Tag Archives: houses malta

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 Market

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.

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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 stefan@pierrefaure.com

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