If you’re considering purchasing property in the Mediterranean, then Malta may well be the perfect place to do so. With its advantageous tax regime, mild climate and convenient proximity to the rest of Europe, the island is primed for investment, whether you’re planning to move here permanently or simply want to buy-to-let.
‘Malta’ is a buzzword at the moment. From international magazines to huge global blockbusters, the island has taken its place in the spotlight and has found its time to shine.
Many foreigners visiting Malta now wonder why they haven’t done so before. So much so, that hundreds each year now choose to pack up and move to the island, effortlessly enveloping themselves in a Mediterranean lifestyle that is coveted all over the world.
Since joining the EU in 2004, Malta has successfully attracted people from across the region and beyond. And who can blame them for choosing it? The island provides a plethora of fantastic aspects and amenities that make it the ideal place to live, do business and invest.
In a nutshell, living in Malta promises around 300 days of sunshine every year, which is enough to interest most people. Meanwhile, the authentic Mediterranean dream also provides everything that is pledged on the tin – a gorgeous landscape, beautiful beaches, a relatively crime-free society, excellent medical and national services, friendly locals and a vibrant cultural calendar.
However Malta also offers so much more. Beyond its traditional charms, a cosmopolitan personality has emerged too. So residents here literally have everything they want – from world-class restaurants and designer shopping, to stunning homes and developments that embrace a luxury lifestyle.
Property in Malta
In fact, the property market has definitely proved to be a ‘pull’ factor for internationals considering Malta as their new home.
For foreigners keen to make the island their base, there are a plethora of options to choose from, including world-class luxury apartments with open views of the Mediterranean Sea, sprawling villas with ample grounds, and renovated houses of character with charming historic features.
Investing in Malta
Beyond that, Malta has also proved its worth as a rental investment. Thanks to the constant stream of people moving to the island, as well as a boost in the number of locals choosing to lease instead of buy, there has never been a better time to buy-to-rent. Once again, there are numerous options open to you, including central two- and three- bedroom flats catering to the needs of young professionals and families, and luxury seafront apartments tailored to the wants of the wealthy expat crowd.
Several ‘Special Designated Areas’ also exist around Malta. These modern developments are earmarked for international buyers and enable them to purchase them with the same rights as Maltese nationals. They have also been crafted around the needs of discerning property purchasers and include excellent facilities such as underground parking, communal swimming pools and landscaped gardens, as well as convenient maintenance and cleaning facilities.
Whichever option entices you – whether you are buying-to-let or to live in it yourself – you can also be assured of Malta’s steady property market. Thanks to the island’s small size and its on- going business boom, it successfully managed to ride the wave of the 2008 international financial crisis without much of a sway in property prices at all.
Today the market remains stable, and continues to promise steady capital growth to its investors. The properties available literally span across price ranges, with apartments starting at around €75,000 in certain areas, and upmarket options in sought-after areas selling for several million euro.
Pleasingly, the government has chosen to really encourage internationals to move to Malta. It has put certain measures in place to support that, including the Global Residence Programme for non-EU foreigners, which allows people who buy or rent a property in Malta and direct their income to Malta to benefit from a residence permit. In addition, it provides a range of benefits and an advantageous tax regime to EU/EEA individuals seeking to acquire residence on the island.
Moving to Malta
So, if you are considering basing yourself here, you will certainly find the financial reasons make it happen, as well as excellent advice and support from professional local companies that will ensure your move over goes as smoothly as possible.
And if you need any more persuading, simply think of that Mediterranean dream – the beautiful sea view, the gorgeous weather and those endless days of sunshine. Now, should we help you pack?