The property market in Malta was one of the few European markets that did not struggle during the recent recession. The outlook for Malta remained as sunny as ever. Whilst things were certainly difficult for many European countries with bank collapses, property market slumps and rises in unemployment, Malta, the little nugget wedged between North Africa and Sicily, remained an exception due to a number of factors.
Malta is a small island with a very high population density, with land being very scarce and therefor always valuable. Moreover, unlike other islands, the Maltese market has a large drive of local buyers who have already enjoyed the fruits of their investments over time.
This tiny island has a lot going for it – besides its strategic position in the middle of the med, the island is sun kissed the whole year round, English speaking and very safe, even politically stable. For Brits, Malta is a delightful mix of the exotic and familiar, so it is no wonder they buy property in Malta and soon make it their second home. The schooling and medical facilities are of very high standard, and the fact that foreigners do not need to learn a foreign tongue makes it all the more appealing.
It is to no surprise that foreign buyers are up again in numbers – The Maltese government promotes foreign investment through a number of schemes which are very attractive to both EU and Non- EU nationals. Malta has always been loved by overseas buyers who get to enjoy the historical and cultural diversity the island offers through its past.
Buying property in Malta is a relatively easy process with various experienced agents available to point you towards the right direction and throughout the whole transaction. The procedure for arranging loans and financing from local banks is not too onerous and those who chose to move here full -time will tend to find the low-tax regime makes life easy – not that Malta doesn’t already have a good quality of life.
Pierre Faure Real Estate www.pierrefaure.com have been helping foreigners relocated to Malta for over 11 years with ample more experience in the property field. Any queries may be sent to email@example.com
Stefan Consiglio – Office Manager – Pierre Faure Real Estate & Malta Property Auctioneers.