The island of Malta is aptly known as the pearl of the Mediterranean, thanks to its beautiful and strategic location along this iconic coast. It also boasts having one of the world’s most lucrative ports, which is a gateway to all of Europe and North Africa’s major cities.
Aside from that, the island of Malta has remarkably agreeable year-round weather, some stunning landscape and architecture, a hospitable charm and warm people, as well as a rich in history and culture.
A majority of the population speaks fluent English, which is the second official language after Maltese, so international visitors can feel at home with no language barrier to worry about. Plus, in the year 2007 Malta was integrated as part of the Schengen zone, and is one of the more stable EU Member countries.
Now, looking at these facts, it only makes sense that Malta has become the latest real estate hotspot to catch massive investor attention, and if you’re looking to invest in the Maltese real estate market, then you’ve come to the right place.
Below we’ve got some interesting information and statistics which show why investing in Maltese real estate is a truly smart move.
Malta’s economic outlook
At present Malta has very good economic standing, as the island country boasts a per capita GDP rate of USD27,250, placing it on the 31st position of countries with the highest nominal GDP rates in the world. The Maltese economy is also one of the few which managed to remain strong and stable during the market crash of ’08, and has only improved since then.
Moreover, the Maltese economy saw a healthy 3.7% in growth during 2017, which meant that Malta was the third fastest growing economy in the EU region, trailing only behind Luxembourg and Romania.
And the country is also looking to compete with Europe’s biggest cities as a prime business destination thanks to the construction of a “smart city” that is sure to attract the world’s tech giants and start-ups, thus creating even more employment opportunities in a country that already has a low unemployment rate.
Who is investing in Malta?
A majority of the investors who’ve capitalized on the Maltese real estate boom so far originate from the affluent regions of the world like Belgium, Holland and Scandinavia, as well as English-speaking countries like the UK and South Africa.
In fact, research shows that 35 of the world’s Ultra High Net Worth (UHNW) individuals have made Malta their home, and are worth a combined €145 billion, while over 75% of them are self-made multimillionaires or billionaires.
If you’re wondering what the term Ultra High Net Worth refers to, it basically describes individuals whose investable assets are worth €30 million or more, and this does not include their consumer durables, collectibles and primary residence.
So if you do decide to invest in Maltese real estate, you’ll be in good company.
What are your options?
The great thing about the Maltese real estate market is that there is a wide variety of options available across the price spectrum and it’s backed by a very stable economy and property market. The country’s low cost of living means that there is a lot of opportunity to find strategically positioned properties at a relatively affordable price range.
Malta is also attracting a lot of expats from different countries thanks to its beautiful climate and abundance of employment opportunities in the gaming and finance sector. Then there’s the lure of Malta’s low taxation on residency. So the demand for accommodation is always there from locals and expats alike.
Also, thanks to Malta’s diverse culture and rich history, the country boasts a wide range of architectural styles, including classical, contemporary, modern, rustic and more. This gives investors a wide range of options to choose from when investing in property, from rural luxury farm houses, to contemporary duplex apartments and Luxury sea-facing villas.
At present, investors are still able to cherry-pick from these and other great real estate opportunities in Malta, but of course this opportunity will not last for long. The world is catching on to the top quality real estate market that Malta is developing, and people are looking to make the most of it to grow their investment portfolios.
Why you should choose Malta
It’s an exciting time to invest in the Maltese real estate market right now, as the country has some lucrative property projects in the pipeline, as seen from the Maltasothebys Real Estate website. This includes the refurbishment of existing areas that are sitting on prime land, a move which has only served to increase investor interest further.
Meanwhile, rent prices continue to increase across Malta thanks to accommodation demand breaking even with supply, and ROI on property investment is at 7 to 9% across the region. First time buyers get a discount on duty fees upon the final contract signing, which is great.
The Maltese government on the other hand, has made it even easier for first-time buyers to invest in property on the island, thanks to tailored schemes that facilitate loans from local banks on behalf of prospective buyers, as well as assisting them with subsidies to help in making loan repayments thereafter.
Benefits of investing in Maltese real estate market
Here are a few more benefits that come with choosing Maltese real estate as your next major investment:
Maltese locals lead a very laid-back and relaxed lifestyle which is largely influenced by the beautiful weather. Speaking of which, Malta really only has two seasons, and that is a warm summer and mild winters. As a result, the Maltese tourism industry continues to boom as hundreds of thousands of visitors flock to its shores each year to bask in the sun, sea and sand.
Malta has some of the most gorgeous sandy beaches in Europe, especially along the Mediterranean coast, which is often characterized by pebbled shores. Plus, Malta is home to numerous INESCO World Heritage sites which make for breathtaking, one-of-a- kind trips.
Malta has a very efficient public transport system that includes comfortable buses and taxis. It also helps that the Maltese airline service offers daily flights to all of the major destinations across North Africa and Europe at a relatively low cost to the consumer. This contributes to Malta’s status as a desirable yet affordable travel destination.
4. Medical Facilities:
Malta has some of the best medical facilities around, including private and public medical amenities.
5. Education System:
The education system in Malta is rated as one of the best in all of Europe, while its English speaking schools and tertiary institutions even rival current UK standards.
If you’re a sporting enthusiast, you’ll be glad to know that Malta boasts state-of-the-art sporting facilities and excellent water sports like diving, snorkeling` and sailing. Its world-class 18-hole golf-course is a great place to meet with Malta’s movers and shakers, especially if you want to broker massive business deals.
Malta has some of the most unique and delectable cuisine in the Mediterranean as well, which derives from Arabian, Sicilian and North African influences.