Malta’ Safe Haven, Not Just For Real Estate
Apparently, according to International Living Malta is not only just a safe place to live but is also a safe bet for your real estate dollars. In a recent article posted this April on their portal they explain how Malta has come out of the crisis untouched. There is much more to Malta than just a safe real estate investment, which makes it the ideal destination in the Med to think of if you’re considering making the move.
Most people who travel to Malta for the first time are always surprised by a considerable number of things. Top of the list is the level of safety felt when walking around the island, even during late evening and night-time. For the locals this comes as a given, but for foreigners who are also seasoned travellers and get warned time and again to protect themselves in certain countries, this is an added boon, especially when travelling with children and family in tow.
There are other factors which make Malta such a popular destination. Consider for instance the vibrancy of the surroundings, the different architectural gems, the historic sites, the close proximity of every locality so that it takes very little time to travel around the island from one point to another. The fact that the island covers an area of merely 316 square km means that in a day one can walk around Valletta, go swimming, have a siesta, visit a museum, dine, and go to a nightspot to enjoy the late evening. All in just one day? Indeed, yes.
It is important to note that Malta is a member of the European Union and in this sense takes its social and legal responsibilities very seriously. Several people from all over Europe and indeed from various parts of the world, come to Malta for further training which is officially recognised and provided in safe and respectable establishments. In a bid to enhance skills, increase
know-how and exposure, ameliorate their profession and status, foreigners often seek temporary employment in this small cosmopolitan niche. With very specific expertise being required to work in highly intensive employment and specialisation segments such as tourism, finance, yachting, hospitality, IT, and gaming, to name just a few, there are plenty of opportunities to be found. And the fact that language fluency in English is high, with fluency in Italian and French in hot pursuit, means that being understood is simply a matter of talking one’s way into the system.
Once on Malta many foreigners seek choice albeit long-term opportunities, and often eagerly search for real estate investment opportunities. These are very easily found especially via respectable and trustworthy real estate agencies. Malta provides a portfolio of property investments that are definitely worth their while. Such investment is available through a seamless process whether you are a European or Non-European. Some restrictions do apply however when one weighs up the opportunities available, it has proven to make commercial sense. Today, there are a handful of residency schemes that are advantageous and worth exploring – all schemes have a criteria that requires one to rent or purchase a property.
As inbound tourist numbers have continued to increase over the recent three-year period, Malta has continued to flourish in more ways than one. Even whilst the rest of Europe is still tottering under the weight of an economic depression that has been lingering for several years, Malta’s minute economy seems to be able to stay afloat and remain virtually intact. This also bodes well for foreign investors including foreign banks and corporations which consider Malta as being one of the few European countries in which to test their grounds in peace of mind. Not for nothing does one find a majority of high profile international and European companies set up in Malta.
There are key locations to be tapped into when considering making a real estate investment. Some of the best spots to invest in are the capital city of Valletta, the town of St Julian’s, Sliema, the varied small villages of Gozo, and there are some central and other coastal areas that also attract a sound investment. Key development projects which elicit interest include Portomaso, Tigne Point, Fort Cambridge, Pender Gardens, of which are incidentally located in the vicinity of St Julian’s and Sliema. If you are looking for rental return on investment you may purchase a property in one of the Special Designated Areas. One may reap from 5% – 8% rental return depending on the way their investment is managed.