Category Archives: Property Related Pages

A rare opportunity to invest in the silent city of Mdina.

Tigne Point, Portomaso, Madliena, Fort Cambridge and the Sliema seafront are a few places that come to mind when people think of exclusive addresses in Malta. However, one of Malta’s most visited tourist attractions, the fortified and silent city of Mdina could easily be top of the list. The problem is that the stock of real estate in Mdina is extremely limited and very little ever comes on the open market as they are usually passed on from parents to children for years and years. One must keep in mind that Mdina is almost 4000 years ago and from its first years it was mainly built and inhabited by Noble families. – hence the nickname Citta Notabile!

For this reason, we at Malta Property Auctioneers are very excited to have been commissioned for the sale of No.3, Triq Mesquita, Mdina – For those who know Mdina well, Mesquita street enjoys the beautiful Mesquita square (pictured below), a most beautiful and tranquil pjazza housing the Mdina experience.

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Mdina is still fully inhabited and what surprises most visitors is the silence inside its walls especially at night. On an island stuffed to the brim with vehicles and traffic, the fact that cars aren’t usually allowed to get in is a major added bonus.  Mdina can offer the discerning client a lifestyle like no other with tranquility and safety galore coupled with a great selection of cafes, tearooms, winebars and restaurants all within a 2 minute walk.

So what about this property? –  While I am still trying to gather the history and date of this particular house, it doesn’t seem to be as old as some other properties within the walls. We are not talking a 400 year old house with flaky walls and arched ceilings surrounding a central courtyard. In fact the style is more reminiscent of your typical Sliema townhouse. A double door entry (anti-porta) welcomes you into a lovely hallway. Upon entering one will immediately notice that even though the house needs some T.L.C, or should I say modernizing, the condition is immaculate. All the original features such as an elegant staircase, beautiful and diverse patterned tiles in all the rooms, perfect  high ceilings held up by great quality wooden beams, all the original wooden apertures including shutters as well as your typical “Maltese” balcony are all extremely well kept and hardly need any attention.

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The layout is very accommodating. Off the hallway are 2 large rooms, ideal as living and dining. Another large room will make the perfect kitchen/breakfast with pantry and guest WC. All rooms lead onto a good sized back yard and provide ample light to the property. Upstairs are 2 large bedroom and a bathroom. The roof terrace is begging to be converted into a lovely roof garden overlooking a chapel cupola and with views of all the Mdina churches.

With minimal expense this property can be upgraded into a truly outstanding property in Malta, in a unique location and environment,

The property will be auctioned at our 31st Property Auction to be held in October 2016. The guide price is €625,000 to €675,000 and more detailed info and pictures can be found here.

Exquisite Detached Villa – Ready to move into – For sale by Auction

Moving house is very often the most stressful time in our lives, however, refurbishing a 1970’s villa is way more stressful than that, especially on an island renowned for slow, undependable workers. Chasing workmen, tile-layers, suppliers and acting as project manager is no easy task especially whilst simultaneously juggling a full time job plus wife and kids. For this reason, its not often that a refurbished villa comes on the market at a young stage of the property’s new life, especially one that has been painstakingly restored and finished to very high standards.

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BEFORE

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NOW

 Malta Property Auctioneers are very proud to be appointed as exclusive agents for this recently refurbished detached villa with pool in the sought after area of Monte Rosa Gardens in Mensija (l/o San Gwann).

When the current owner purchased the property some 30 months ago, there was very little to please the eye. Dated apertures, chipped floor tiles, a falling apart kitchen and a layout not very fitting for today’s lifestyle. With a vivid imagination the owner decided to take on a project to give this property the new life it deserves. Several months, hundreds of hours of hard work, and plenty of arguments (with both wife and workers) later, and the property is unrecognizable.

Standing outside the property one immediately notices that the property has been completely re-plastered and painted, the apertures have all been changed to top quality double glazing , the main door restored to new life and the surrounding gardens re-tiled as well as the use of astro-turf to create a perfect play area for the kids. The inside has been equally cared for – the property, which was gutted to its innermost skeleton is now finished to perfect detail using a wonderful mix of textures and materials. Underfloor heating as well as air-conditioning throughout are only some of the extras included. The property boasts two living areas (one for the adults and one for the kids), a private office or study, a wonderful kitchen (see pic above) and dining area all leading onto the pool, bar and deck/lounge area, which is an incredibly private space.

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An extension has been built to make space for a 4th double bedroom (2 of which are ensuite and main enjoying a seriously nice sized walk-in wardobe).

The guide price for this property has been set at €695,000 – €735,000 which is incredible value for all the property has to offer. There is very little on the market that compares to this outstanding fully detached home. Viewings have already started and we expect many more before auction day. If you are looking for that ideal family home, with no expenses spared, ready to move into and in a nice villa area with no overlooking apartments around, I suggest you make that call to take a look before its too late.

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For more info, photos & Google Map location click here

A Successful 29th Property Auction

Malta Property Auctioneers Ltd. looking forward to their 30th Property Auction

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Malta Property Auctioneers held their 29th quarterly Auction last Saturday 30th January at the Royal Malta yacht Club. Another successful and satisfying auction for all the participants, both vendors and buyers with almost €6 million worth of property sold under the hammer.

“This was another pleasing event for us and we are really looking forward to launching our milestone 30th Auction. Nine years ago today we opened our doors and where a little skeptical whether the idea would take off in Malta. Today we are the smart choice for buying and selling real estate. So much so, that other names in the local Real estate scene are trying to dive into this more targeted business model.
“It was only a matter of time before others followed suit. In fact others have already tried and failed. It is very typical of the Maltese to take a good idea and try to make it their own, to see who is successful and try to steal their recipe, but we have been in business for nine years and we have established our own market niche. Besides, who wants to drink Star Cola when the original Coca Cola is sitting on the same shelf ??? “ – remarked Stefan Consiglio, when questioned about the hearsay that other property auctioneers where about to launch.
“To be a successful property Auctioneer one needs to have extensive knowledge in the local real estate market, an auctioneers licence and a team of highly trained sales agents – Our experience in real estate goes back over 30 years through Pierre Faure Real Estate. The other ingredient for a successful auction, is a large database of highly qualified investors together with an aggressive marketing campaign – both items we have been harvesting and perfecting bit by bit over the last 9 years as auctioneers.
“We are a company that keeps up with current trends in marketing and are always looking into the newest marketing mediums to get the best possible exposure for your property with the intention to sell it to the highest bidder within a short period of time by creating an environment of urgency. Our business model is a win-win situation for all parties and the results are there to be seen . Moreover we are always willing to work together on a commission sharing basis with other agencies or brokers making our sales force even larger – this way we do not close a window of opportunity to anyone but rather open doors to all – pun intended.”
Malta Property Auctioneers’ exact 30th Auction date will be announced shortly but will be held around April/May. We are currently in the process of putting another attractive portfolio of properties together so for those willing to sell their property fast and efficiently – now is the time!

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Malta Property Auctioneers – The only Property Auction house in Malta

In the past, auctions were a relatively uncommon way to negotiate the exchange of property in Malta. Today, we at Malta Property Auctioneers, a brainchild of Pierre Faure Real Estate, have become a household name, synonymous with offering property vendors a different marketing tool. Different because it gets your property sold in a much faster timeframe and with lower expenses.

Malta Property Auctioneers has revolutionized the real estate industry in Malta. We are now the smart choice for buying and selling unique real estate. In practice, haggling and negotiating and sales by set-price have always been significantly more common. Today however, Malta Property Auctioneers have proven that you can sell your property for the highest price and within the shortest period of time.

“We have modeled a process that focuses on creating maximum exposure for a property combined with the element of urgency and efficiency. This is what our sellers are attracted to. What we do really well is delivering what we say we will! – provide a detailed, aggressive and attractive marketing campaign for your property both locally and overseas and combining it with our knowledge, expertise in the local real estate market. We offer buyers the opportunity to purchase properties at values much lower than what they might be advertised at with agencies yet at the price they are willing to pay.

“Our business model is a win-win situation for all parties – the buyers, the sellers and even third party intermediaries, as we are always willing to work together on a commission sharing basis should a purchaser be introduced by another agency or broker.”

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Our next auction will be a milestone as it will be our 30th Auction and we are looking to offer our most exclusive portfolio yet. So what are you waiting for? If you own a luxury property in Malta and are tired of sitting around waiting for the “right” buyer to come along, give us a call now and let us show you the results we can achieve.

Stefan Consiglio – Manager – Malta Property Auctioneers

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www.propetyauctionsmalta.comwww.maltauctions.com www.maltapropertyauctions.com

#propertyauctionsmalta, #maltauctions, #maltapropertyauctions

2015/2016 Budget Measures related to Property in Malta

Pierre Faure Real Estate welcomes the budgetary measures related to the property sector announced by the government on the 12th October 2015.

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The main points covered in the budget included new laws with regards to first time buyers, tax on commercial letting and incentives for properties in Urban Conservation areas.

First-time property buyers:

Any resident of Malta that has never purchased a property will have no stamp duty to pay on the first €100,000 . Basically this is an exemption from the payment of duty on documents up to a maximum of EUR 5,000 on their first property. This will apply retrospectively for preliminary agreements entered into as from 1st July, 2015. Those first time buyers who have in the meantime entered into a preliminary agreement and final deed of sale after the 1st July, 2015 will be refunded the duty on documents they paid.

 This scheme has already proved extremely successful since it was introduced last year, boosting sales throughout all budgets and naturally giving a helping hand to lower earning individuals to get onto the property ladder.

Tax on Rental:

In 2015 the goverment announced that tax on residential letting will be reduced to 15%. This was well welcomed and a large amount of landlords registered their properties with the authrotities and declared their incomes.

In this years budget, complimenting the success of this lower rate in reduction, it has been announced that A 15% withholding tax shall also apply to rental income deriving from commercial properties or from property rentals to companies.

 Inheritance: 

The law shall be amended so that in cases were properties have been inherited and a minority of the heirs do not wish to sell such properties, the properties may be sold after 3 years if the majority of the heirs so wish. Once sold, these properties will be registered on the Land Registration Area register.

The main aim of this measure is to release dilapidated properties which cannot be sold due to family or inheritance disputes, reducing the amount of vacant homes, embellishing areas which look unpleasant due to neglect  and releasing more properties on the market without the need to construct them.

Special benefits for UCA’s

Purchasers of properties in Urban Conservation Areas shall benefit from a reduction in duty on documents to 2.5% instead of 5%,. Subject that the final contract of purchase is entered into between 1 January 2016 and 31 December 2016.

Urban Conservation Areas (UCAs) are important areas within the towns and villages in Malta with certain architectural value. These areas represent the identity of the various localities.  Again we feel that incentives to persons that regenerate old properties into their original former glory is a good measure that should release properties that are high in demand without the need for modern blocks

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On the same line, when a refurbished property in an Urban Conservation Area is re-sold, the Final withholding Tax shall now be reduced to 5%.

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Stefan Consiglio – Office Manager – Pierre Faure Real Estate & Malta Property Auctioneers

Attard Townhouse facade

The Perfect blend of Old & New – House of Character in Attard, Malta

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When  we at Pierre Faure Real Estate sold this house of character 3 years ago, it was in an awful dilapidated mess. We often took clients that wouldn’t even walk through the front door in fear of the ceiling collapsing on their heads. One particular client, however, who was tired of trying to find a home in Malta with a good finish at a fair price, decided that maybe a fixer-upper was the right choice of property for him.

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The features the Malta property had , or at least those that could be seen to the inexperienced eye, where a lovely courtyard leading onto a decent size (approx 80 sqm) garden. Apart from that, nothing in particular stood out, or at least, not in the mess and dust that engulfed the run down property. But the location was good, tucked away in a rather wide alley in one of the most sought after and quiet villages of Attard. After some convincing that the house truly had potential to be something outstanding, the sale was made.

3 years later, the owner contacted me to view his project – As I reached the address, I actually thought I was in the wrong place. The facade, now a typical townhouse totally restored to its former beauty and glory, was already unrecognizable. I couldn’t wait to get inside.

As soon as I entered the front door, I was absolutely gobsmacked. The conversion, done by a group of renowned local professionals was nothing but awe-some. I felt like I had never been to this location before. The entrance hall, with its magnificent high ceiling was overwhelmingly welcoming. The first room, one which i had myself explained will one day host a lovely TV room, was converted into the most elegant formal dining room. The central courtyard was gone and replacing it now is the most grand , bright and spacious , double height living room with more than enough space for a study, library and piano. Overlying this massive room is now the main bedroom, equally grand , bright and spacious with its own walk in closet and en-suite bathrooms as well as ample storage space.

The project itself, unearthed some amazing features, namely a carved stone dating back to the 1700’s and moreover, a lovely arched cellar which underlies half of the well landscaped garden – a perfect place to store wine.

What amazed me most about the house however, is the combination of the old walls and replica patterned tiles , wooden beams and arched doorways mixed with flat wallpapered walls, as well as the mix of tones and materials from granite to hardwood floors and an abundance of different textures all blending well and finished to the highest levels. The bathrooms, 3 in total are of topmost quality and the house enjoys loads of little nooks ideal for storage, one of which is your typical “birth room”. the apertures are large and flood the typical Maltese house with light

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“This place was top notch…and I wanted it on my books….”

3 months of persuasion down the line and the property is now listed exclusively for sale by auction with Malta Property Auctioneers with a Guide Price of €545,000 to €575,000. A very attractive guide price for a family home of this caliber especially with respect to its size, location, outside space, and standard of finish.

You can find more photos and an exact google map location herehttp://www.maltapropertyauctioneers.com/Home/Property?code=HC9308

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Is This The Right Time To Buy  a Property in Malta???

It always seems to be! Says Stefan Consiglio, Manager at Pierre Faure Real Estate.

 

For all those first time buyers, foreigners seeking Permanent Residency in Malta, investors looking to take advantage of the rapid increase in rental prices or homeowners that are just seeking to upgrade their home. YES, this is the time to buy!!

We all know that over time property will always appreciate. Ever since I started my career in the Real Estate field 13 years ago, I always recall hearing the negative people talking about a bubble about to burst. So far, this hasn’t happened here in Malta. Yes there might have been a year or two where the increase wasn’t as large as other years, but Malta has yet to see a property bubble burst, and to be honest, I still don’t see it happening any time soon.  Bank interest rates have remained relatively low for a few years now  and the rental market is still extremely healthy, with prices still on the rise and demand still higher than supply.

Malta is a tiny island with land a true scarcity, but moreover it is one of the most populated countries in the world per capita and thousands of foreigners are still moving here annually. Some move here because of the weather, others because of the culture or friendliness of the Maltese people, others cause of the language or schooling, tax reasons or of late, simply because Malta is the iGaming and finance hub of the world. The place to be if that is your line of work. Whatever the reason, an increase in people moving to Malta will always result in an increase in demand for homes in Malta. There is an extremely good choice of property out there and this is definitely helping to keep the value of homes more competitive.

 

Rental returns a decade ago were a mere 3 to 4 % and you always had some vacant time in between finding “the right tenants.” Today properties in prime areas are never left vacant for very long and the normal yield is 5% with opportunities to invest with better returns also possible. So what more can one ask for?

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Pierre Faure Real Estate has a number of Good Value homes to offer in Malta which can get much better returns than any other types of investment, and that is not even considering the capital appreciated on the property’s value over even a small number of years. So what are you waiting for?  Send us an email or give us a call and we will assist you throughout the whole transaction, from finding the right property to leasing it out to qualifies tenants at a good return.

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Buying Property at Auction

Traditionally, buyers scour the market for homes that interest them by attending open houses, going on neighbourhood tours, scouting multiple online and newspaper listings, as well as contacting several agents. Sellers, on the other hand, typically work with listing agents to sell their properties to interested buyers. Unfortunately, this is not always the best option as it is not always easy to evaluate the market value of a property. Even the most experienced agent may provide misleading advice. Real estate auctions provide an alternative for commercial and residential buyers and sellers. While some cautious buyers and sellers might hesitate, there are advantages for both through the auction system.

As a seller, real estate auctions afford you the opportunity to show your property to multiple buyers simultaneously and ultimately sell it to the highest bidder. Potential buyers must qualify for financing before they are eligible to participate in the auction. As a result, potential bidders are already pre-qualified to purchase your property, which maximizes both the buyer’s and seller’s chance of concluding a deal.


Why would anyone be interested in buying a property at an auction?

Auctions offer an exclusive chance to snap up genuine properties at attractive prices with the security that the vendor is committed to selling. This is of utmost importance, especially in the case where the property has been inherited by a number of people as the purchaser will have the peace of mind that none of the vendors will back out at the last minute. Auctions make the negotiation procedure open and public, eliminating long negotiation periods. In addition to this, the purchase and closing dates are always known in advance and since the auctioneer normally prepares most of the notarial searches on the property, the period between the promise of sale and the final contract is much shorter. Moreover, through open competition, the bidder knows that he has purchased a property at a fair market price.

In theory, some of the best properties are offered at auctions because the auctioneer and his team put great effort into offering properties which are high in demand and searching out vendors that genuinely want to cash-in fast without asking for exaggerated prices and waiting for the right client to come along.

Malta Property Auctioneers is the only property auction house in Malta. We are working towards our 22nd property auction which will be held in October. Their team of highly trained staff offers professional advice and evaluation on any kind of real estate on the island.

For more information, visit: www.maltapropertyauctioneers.com

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Renting a home in Malta

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Malta is one of the most dense countries in the world and thrives on the tourist industry, so it may come to no surprise that it is not always easy to find your dream home.

At the moment, it is quite obvious ,that even though construction in Malta never seems to stop, the demand for property is still outreaching the supply. If you intend to rent a home in Malta, you will need an experienced real estate agent, one with good contacts, a large database of good properties and more over , a reputable one which landlords trust and are happy to work with.

At Pierre Faure Real Estate, our team of experienced staff are trained to be professional at all times. We know the island like the back of our palms and moreover are ready to listen to your needs and wants in order to match clients and properties as best we can. Our rental properties in Malta start from as little as €250 per month, but we also cater for a vast range of up-market, top of the range properties to suit all needs. If you are thinking of renting a home in Malta, be it because you want to relocate to Malta or just wish to spend a long holiday in the sun, Pierre Faure Real Estate will be able to assist you. We believe that at any given time, there is always a property out there to suit ones requirements.

Our revamped property website, www.pierrefaure.com, offers good photos and all the information you need. Moreover, you can like our facebook page here and you can keep updated with the best properties which we post regularly.

If you are a property owner, and have vacant property in Malta & Gozo which you would like to let click here , fill in the form and an agent will get in touch. Our aim is to leave your property vacant for as little time as possible.

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An ever growing trend in purchasing property in Malta by auction!

The traditional way of searching multiple real estate listings online and working with many different real estate agents can be tedious, confusing and nerve racking and will very often lead a person into making the wrong decisions. A new channel of acquiring property has been gaining popularity rapidly in Malta – Auctions! – A fairer, more transparent  process where ultimately a purchaser is guaranteed a fair price.

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“On auction, as the hammer falls, you can find yourself walking away with an amazing deal! A property listed on an open agency can easily be sold for up to 30% less than its original listing price.  We spend a lot of time , energy  and effort singling out those vendors which don’t want to sit around waiting for the right buyer to come along but just wish to sell as soon as possible – for whatever reason.  There are a number of reasons why a person might wish to sell quickly. Bank repossessions, failed marriages, family feuds , deaths and genuine “owner leaving island” situations are the kinds of vendors Malta Property Auctioneers seeks out in order to offer purchasers unique investment opportunities and a fair chance to make a fantastic deal.”

The culture with vendors in Malta has always been to list your property as high as possible and wait around for the foreign millionaire to come around and give you the full price. Realistically this never happens and people may sometimes hang around for months on end without even a single showing, even after having listed with multiple agents. With an auction, things work the other way round. A reserve price relatively below market value is usually set. Potential purchasers are invited to view the properties beforehand and may then either place an offer immediately or wait for auction day to see what interest there is and bid for the property . Pre-auction offers are dealt with in the traditional negotiating manner and vendors have the right to accept or wait for auction day.

“Malta is one of the most populated countries in the world per capita and generally people move home often, especially since over the last twenty years they have seen their property values come up at tremendous rates. Some people do get stuck with their properties for a very long time, but it has been proven over and over again that a property priced reasonably will sell exceptionally quick. That is why we thrive in offering the Best Value properties on the market.”

“In 2010, €47million worth of property was placed on our auctions. In 2011 this went up to €51 million and already over €25 million in the first six months of 2012.  We sell almost 75% of these properties and the main reason for our success is that people know and feel comfortable that they are getting a good product and extremely good value. We cater for all budgets, from small apartments to luxury villas and sometimes even exciting commercial opportunities – as long as we feel that the price is right!”

Malta Property Auctioneers is the only company in Malta specializing in the sale of property by auction. All staff are highly trained and updated with the market trends, therefor having exceptional knowledge about the reality of property values in all areas of the islands. The company also boasts a reputation for having a friendly and experienced team offering professional consultancy on the investments they offer as well as being able to assist with any part of the purchasing process. Pierre Faure, founder and Managing Director of the company has been in the real estate business since 1980, spending several years selling real estate in Canada where he won several awards including the prestigious “Award for Merit” for four consecutive years as one of the top producers in Canada. Locally he is renowned as a leading agent due to his reliability and trustworthiness , key factors to becoming an established property auctioneer.