Tag Archives: homes in malta

Exclusive Property Listings

What is an Exclusive Property Listing?

When a property is listed with a Real Estate company in Malta, you may know by now that it can be listed either “Exclusively” (Sole agents) or as an Open listing.  When a property is marked as “Exclusive” this means that the sale of the property is “Exclusive” to the one company which has it listed. For example, just imagine that company ABC Real Estate lists Apartment No. 1111 at Portomaso as an “Exclusive” listing – this means that the only agents that are able to advertise, conduct showings/open houses, and ultimately sell this property are ABC Real Estate. Viewing such properties with a different agent, could ultimately result in paying more commission!

In Many countries the norm is to list with only one agent, however in Malta, very  often we find that people opt for Open listings, either not to offend friends or family members that work with other agencies by giving them equal opportunity to sell the proprety but also to increase the sales force by adopting a first come first served basis.

What Does An “Exclusive” Listing Mean For A Seller?

For a Seller, an exclusive listing has several advantages. The first advantage, is obviously a lower commission rate, which ultimately also benefits the buyer. Another worthy mention, is the fact that sellers get a more personalized service since the Sole agent will be more committed to make the extra effort to get your property sold. Locally, another tremendous advantage of listing Exclusively is that you will not have hundreds of agents and agencies wasting your time by showing your property to prospective clients without even being knowledgeable about what they are trying to sell. Exclusive listings are popular among sellers who prefer an added level of privacy during the home selling process. As Real  Estate agents, we only have a couple of goals in mind when working with sellers – the obvious goal would be to sell your property for the best price and in the least amount of time possible. However, another important goal in selling your property would be to bring you the best possible and most suitable conditions (i.e. fair selling price, convenient closing dates, fair conditions. etc.) –  and this is best achieved when working in a more personal manner.

Palazzo in Valletta Exclusively for sale through Pierre Faure Real Estate

Palazzo in Valletta Exclusively for sale through Pierre Faure Real Estate

 

What Does An “Exclusive” Listing Mean For A Buyer?

As mentioned above, as a buyer you will ultimately be paying less commission. Also, when properties are under an exclusive agreement you will most likely avoid a bidding war with other potential purchasers since the agency will be fully aware of other offers received.

Written by Stefan Consiglio – Manager at Pierre Faure Real Estate & Malta Property Auctioneers.

A double Fronted Townhouse in Sliema exclusively for sale through Pierre Faure Real Estate

A double Fronted Townhouse in Sliema exclusively for sale through Pierre Faure Real Estate

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.

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

PROPERTY IN MALTA

Traditionally, buyers scour the market for
homes that interest them by attending
open houses, going on neighborhood
tours, scouting multiple online and
newspaper listings and 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 and 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 at once during a short
period of time and ultimately sell 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 buyers and
sellers chance of concluding a deal.
Why would anyone be interested in
buying a property at auction? Auctions
offer a first chance to snap up genuine
properties at attractive prices with the
knowledge that the vendor is committed
to sell. 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 peace of mind
that none of the vendors will back out
at the last minute.
Auctions of property for sale in Malta make the
negotiation procedure open and public
eliminating long negotiation periods.
Also 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
final contract is much shorter. Moreover,
through open competitive bidding one
knows that he has purchased at fair
market price. In theory, some of the
best properties in Malta 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. Working
towards its 28th property auction to
be held in September 2015. Their team of highly
trained staff offer professional advice and
evaluations on any kind of real estate on
the islands.

More info at
www.maltapropertyauctioneers.com

Stefan Consiglio is General Manager at Malta Property Auctioneers & Pierre Faure Real Estate

Malta property becomes less costly, as pound nears 16-month high

09.05.2014

One more great reason to buy a property in Malta! Malta property has fallen in price lately, as the pound has reached 1.2247 versus the euro, just shy of its highest in 16 months, or since January 10th 2013.

To put this into context, sterling was at just 1.1371 last March, meaning it’s since bounced back by almost 9 cents. Were you to transfer £125,000 to Malta to buy a property, you’d hence get an impressive +€10,688 more today than March 2013. Clearly, this puts your dream Malta property closer within reach!

Why has the pound jumped against the euro?

Sterling has neared this 16-month high versus the euro, chiefly because the UK economy is growing like there’s no tomorrow. For instance, just this week the OECD upgraded its 2014 growth forecast for the UK +0.8%, to a jaw-dropping 3.2%. This will make the UK the world’s fastest-growing major economy, hence boosting the pound.

At the same time, the euro has weakened of late, because the Eurozone faces the threat of Japanese-style deflation. This is where prices continually fall, which sounds nice, but leads to economic stagnation, as people keep putting off their shopping to see if things get cheaper. So that’s brought the euro low too!

Will the pound continue to climb?

Moreover, the pound looks set to exceed its 16-month high in the near future. This is because, with the UK economy fit and frisky, the Bank of England may soon become the first major central bank since the financial crisis to hike interest rates. This will send the pound yet higher, further cutting the cost of Malta property in 2014!

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About the writer

Peter Lavelle is an economist at foreign exchange broker Pure FX. To get free expert currency advice about the best time to transfer money to Malta, call him on +44 (0) 1494 671800 or email peter.lavelle@purefx.co.uk.

Property Page Competition

Pierre Faure Real Estate, in conjuction with www.techmarket.com.mt, are launching a facebook competition and giving away a Samsung Galaxy tab 3 (WIFI).

To participate, all one needs to do is log onto facebook, like Pierre Faure Real Estate’s Page and share the competition as seen below.

Pierre Faure Real Estate are a team of highly trained and professional, experienced real estate agents in Malta always ready to offer a personalised service.

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Renting a home in Malta

Mad Village terrace

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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Summer in Malta

Summer in Malta?

One of the few places that come to mind when considering a summer trip, along with Mallorca, Ibiza, the Greek Islands and a couple more places is Malta. An island with fun and sun where temperatures between 25 to 35 degrees are almost guaranteed and you’re certain not to get bored!

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Holidaying in Malta is a good idea for many reasons besides the beautiful weather all year round. Malta is rich in culture and history, has a population that is multi lingual, enjoys some outstanding resorts as well as some of the best cuisine in the world and was voted as one of the safest places in the world as well as the best quality of life. Malta during the Summer becomes a place of many different types of activities, ranging from spending a lazy day at one of our many beautiful beaches, to an abundance of water sports and experiencing some of the best dive sites in the world to experiencing first hand any of Malta’s famous village feasts – there is one nearly every night!

Here’s what we suggest you do in Malta during the Summer..

1)      Visit as many of the beautiful beaches towards the north of the island as possible, mainly Golden Bay and Ghajn Tuffieha which are two beaches located right near each other or Mellieha Bay since it boasts shallow waters which make it perfect for families. If you intend on visiting Gozo, Malta’s sister island,  then visiting Ramla L-Hamra  – a definite must to witness it’s beautiful red sand. You must also visit Blue Lagoon due to its beautiful crystal clear blue waters since it’s only a quick boat ride away to Comino, the uninhabited sister island which is located in between Malta and Gozo.

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2)      Experiencing Malta by Sea is obviously a great idea as already obvious. We suggest chartering a boat for the day and going around the island, especially a visit to the Grand harbor or the remote Dingli Cliffs to the west. Try as many of the water sport activities available on the beaches already mentioned or if you’re less adventurous, grab a snorkel and mask and swim through all the beautiful old caves we boast on the Maltese Islands.

Boats

3)      After a long day at the beach in the heat, we recommend that you visit one of the many brilliant restaurants along the Sliema / St. Julians front, one of the fish restaurants in Marsaxlokk or visit one of the many older style restaurants in the historical city of Valletta – a UNESCO world heritage city boasting some unique architecture.

4)      Throughout the summer, Malta becomes one of the coolest nightlife places in the world. People from all around Europe have realized that Malta’s partying scene has really grown throughout the years and hosts some of the world’s best dj’s and music artists coming to perform on our island at events such as “Isle of MTV” or “Creamfields” . There are other festivals such as Earth Garden, beer festival, Wine festival and Jazz festival which also make for a unique night out. Bars, Restaurants, Casinos and Night Clubs are in abundance, ranging from cheap, free entrance clubs to high end clubs such as “22” which is located at the top of the Portomaso Business Tower in the area of Paceville / St. Julians.

5)      Something else which is a must do in Malta in summer is visit one of the local village feasts. Nearly every village in Malta throws a feast for its locality once in summer. You can definitely expect loud bands, fireworks and church bells to be ringing throughout the night as people celebrate in the streets.

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6)      Visit Mdina – the silent city. Malta’s old capital is quaint and quiet, and traffic free. This fortified city is a true gem bursting with unique architecture and history. A walk through at night is definitely worth it and some of the restaurants enjoy spectacular views of the whole island, which complement the local wine very nicely.

7) Rent a farmhouse – Many agents in Malta offer the opportunity to live in a typical farmhouse. Rent a farmhouse with a pool in Malta & Gozo. The historical gems, sometimes dating to over 400 years old have been converted to accommodate the ever growing tourist industry on the island. Chill out in the sun by the pool with your favourite beverage and enjoy a relaxing holiday with the family in a typical Maltese abode.

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 Malta is ideal for all ages and there truly is something to do for everyone. Whats more, the island is pretty small and its easy to get around.

 

Brand new property websites for both Pierre Faure Real Estate and our sister company Malta Property Auctioneers.

We have spent the last few months brainstorming on how to service our purchasers and vendors better. Following our office move last month, to much larger Ta’ Xbiex offices, we focused our efforts on creating two brand new property websites for Pierre Faure Real Estatewho specialize in Sales & Rentals of up-market properties throughout Malta & Gozo and Malta Property Auctioneers, who specialize in selling property by Auction in Malta.

What we wanted are two fresh property portals, separate from each other but designed in a way that clearly indicate that both companies work hand in hand with each other. This is very important to us because we want our clients to know that the staff and team they trust at Pierre Faure Real Estate are the same team of professional and ethical members that work at Malta Property Auctioneers and vice versa.

Nowadays, the first thing one does when they are interested in renting or buying a property, home or rental investment is to go online and visit their favorite real estate agencies’ websites. They do this before communicating with the actual agency itself, so obviously, the property website is the first impression the client gets about the agency. We have worked on developing both websites to be as easy on the eye and easy to use as possible, since the last thing the client needs in today’s fast paced lifestyle is for a complicated property website. We have catered for simple search tools, with easy to sort results  together with larger images for better browsing.

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We have done our utmost to provide correct information, show large images and to make it as easy as possible for both locals as well as foreigners looking to relocate to Malta to understand all the different areas and luxury lifestyle developments in Malta, so that they may take a decision on where they want to purchase or rent, based on detailed and sound information. Our easy map tool should also help those who are not too familiar with where certain properties and village are located geographically.

We aim to use this blog to provide as much information as possible with property related news in Malta, such as new tax schemes and incentives that may come to practice from time to time.

We have been in the Real Estate business for over 25 years and have ample experience and knowledge about various parts of the industry. To remain at the top of the list of leading estate agents in Malta we now offer you the freshest real estate websites on the islands catering for both long term rentals as well as short let/ holiday homes in Malta. We hope you like the new designs and we are always open to listening to your feedback. Kindly send any comments to Justin@pierrefaure.com