Year Overview – The Year of 2012
Looking at past news, initiatives and milestones, we see where we have been, what we have done and hopefully also find some inspiration for things to come. It is beneficial for anyone to celebrate these past events of note, as it provides us with a roadmap of the steps we have taken to not only learn more, but to improve ourselves and to evolve to where we are today. We hope you will all enjoy this summary of the Year that was 2012!
Highlights of 2012
Frank Salt Real Estate Launches Luxury Property Portfolio
In 2012, in their constant efforts to promote Malta and its best property offerings, the company published a brochure featuring all major luxury developments available for sale in Malta and Gozo.
With information on the islands’ Special Designated Areas, as well as other high profile residences where there are absolutely no restrictions to acquisition of property for foreigners, these are very popular to this day with foreign nationals looking at buying.
The publication was the first of its kind and an excellent addition to the other publications of Frank Salt Real Estate.
Team of New Recruits Embarked on a Career with Frank Salt Real Estate
Following the success of Frank Salt Real Estate’s career days organised earlier in February 2012, the first batch of recruits completed their extensive training course organised by the company and took up office in one the then 14 branches.
Over a hundred people participated in Frank Salt Real Estate’s Career Day held at Inspire (ex-Razzett tal-Hbiberija). A similar event was held in May of 2012 which included a number of informative seminars on real estate.
13th office for Frank Salt Real Estate in Spinola Bay St Julians
2011 was a positive year for the company, with an increase in demand for high-quality, finished properties as well as investment properties. The rental market maintained its steady growth and the company felt the need to complement existing offices with a new outlet.
In line with its expansion strategy, the Frank Salt Real Estate Group opened its 13th office on the island at 88, Gorg Borg Olivier Street, St Julians, facing scenic Spinola Bay.
The Project Management Division undertook a complete refurbishment of the premises and the branch was managed by company Director Douglas Salt, who also managed the neighbouring St Julians Branch in Paceville Avenue.
Of Tombs and Crypts – Frank Salt Real Estate goes Treasure Hunting
What is Mozart’s link to Malta? What does Elvis Presley recommend to mothers? What do St Agatha and St Paul have in common? The Frank Salt Real Estate team got involved in uncovering mysteries and treasures hidden in the heart of Rabat and this undertaking was related to the annual Spring Team Building activity organised for the company’s employees by its Marketing and Human Resources Divisions.
Teams had to solve complex riddles and visited St Agatha’s crypt, St Paul’s Catacombs as well as other sites that are well hidden from view in the village. Throughout the afternoon they also had time to admire the architectural gems of Rabat.
The treasure hunt’s winning team consisted of Jonathan Sammut (Accounts Division), Jacqueline Micallef (Mellieha branch), Alison Vella (Company Director) and Noel Galea (Balzan branch).
Savoy Gardens award for Marika Stagno Navarro
In 2012 Savoy Gardens introduced a new annual award within the local real estate industry aimed at recognising the efforts of the agencies that work hard to assist in the promotions and sales of units within their developments. The winners were announced at a luncheon at the Marsa Golf Club, with Frank Salt Real Estate securing the Top Selling Estate Agency Award, as well as the Top Selling Property Consultant Award.
Frank Salt Real Estate succeeded in getting 80% of all units getting sold at Savoy Gardens, and The Top Selling Property Consultant Award was presented to Marika Stagno Navarra from the Sliema branch.
Sliema Aquatic Sports Club Announces New Sponsor
Sliema A.S.C is Malta’s most successful water polo club and had an impressive 31 league championships to its name in 2012. During the same time it was announced that Frank Salt Real Estate was the club’s new sponsor after their sponsorship arrangement with McDonalds came to an end.
Club President Michael Gatt said he was very happy about the agreement with Frank Salt Real Estate and that he believed that the co-operation between one of Malta’s leading Real Estate companies and one of Malta’s top water polo teams would be mutually beneficial and that the backing of a strong partner was crucial. The deal saw the Frank Salt Real Estate logo prominently displayed on the team’s outfits and at their club premises.
Grahame Salt commented at the time that sports activity was an extremely important element of any society and that water polo was one of the most followed sports in Malta. Endorsing the club was giving something back to the community and Graham also wished the team the best of luck.
Intensive Training by Top Internationally Acclaimed Sales Consultant
In 2012 Frank Salt Real Estate organised a three-day seminar for its team of consultants, including its latest team of recruits and this was organised in conjunction with Carlo Pignataro, a senior and internationally acclaimed sales consultant who specialises in sales and selling techniques.
At the time, Joseph Lupi, the Managing Director of Frank Salt Real Estate said: “In today’s competitive market it is not just enough to have the best product offering to close sales, but good practices, added value and complete customer satisfaction are ever more important.”
The seminars provided consultants with a fresh approach to how to deal with customers and how to improve on their sales strategy. Other factors such as determination, body language, assertiveness, having a positive attitude and market knowledge were also addressed.
Malta reconfirmed as the best retirement destination for the Brits in 2012
Extensive research was carried out by Yahoofinance.co.uk in conjunction with prominent US insurance company Castle Cover in 2012 to find the world’s most popular country amongst retirees. Countries popular as retirement havens were graded on the basis of its rainfall, hours of sunshine, property prices and property tax, petrol cost, expat numbers, criminality rates, healthcare cost, distance from home and their grocery index amongst others. Out of all the countries in the survey, Malta affirmed itself as being the best retirement option, pipping Portugal, Barbados, Australia, Jamaica, Greece, Spain, Thailand and Morocco to the post!
In 2011, Malta had the best Quality of Life Index as published by International Living magazine and the country was also named as “safest country to live in” by the United Nations in its annual World Risk Report. At this time, Maltese were also considered amongst the happiest people in Europe, being placed 6th in the European Quality of Life Survey(as carried out in 2008).
2013 – A Year of Opportunities for Property Buyers and Investors
Frank Salt Real Estate registered a growth of 14% throughout its operations in 2012, and this reflected the success of the company’s growth strategy and its role as Malta’s leading estate agency.
The Company’s Annual General Conference was held at the end of March at the Corinthia Palace Hotel in Attard. Sales to foreign buyers remained on the same level as per the previous year, with Malta capturing foreign interest not only as a holiday home or a residency option, but also as an investment opportunity. More than 20% of total sales were investment purchases, either for capital appreciation, or more frequently as rental investments.
The local market was still fuelled by first time buyers with a strong improvement amongst registered second time buyers, the latter which saw an increase of 36% in sales. The average price of properties sold also went up, with a particular increase in interest in terraced houses and houses of character.
The rental market also saw a steady growth with company revenue up by 29% in 2012. The year saw a relaxation of capital gains tax regulations, reduction in stamp duty, reduction in income tax on rentals and a revision of the permanent residency scheme, particularly those affecting non-EU residents.
The commercial division also registered positive growth, with the number of enquiries generated in 2012 growing by more than 200% when compared to those of the previous year. This was partly due to the company’s restructuring strategy to have a dedicated division focusing on Commercial Property. In the first quarter of 2013 the company has also embarked on an aggressive recruitment drive aimed at enrolling more consultants to cater for the expected increase in sales and lettings demand for both residential and commercial properties.
During the conference, awards were handed out for “Best Sales and Letting Consultants” and the awards went to George Vassallo and Ludwig Farrugia respectively. “Best Branch” was won by the Marsascala Branch. Other awards and company appointments were also announced. Presentations were given by company chairman, Mr. Frank Salt, director Grahame Salt, Marketing manager Nick Bilocca and Kevin Fenci from Fenci Consultancy.