With its incredible Mediterranean location and exotic feel, Malta is a destination that has long appealed to visitors from all over the world. From the ancient Phoenicians to modern day holidaymakers, the unique draws of Malta have made the islands a favourite of many for centuries.
Malta’s growing tourism industry, stable economy and incredible landscape come together to make this a destination of great interest to investors. The following are ten reasons driving investor confidence in property in Malta:
1) Government Stability and Neutrality Bolsters Property Investor Confidence in Malta
The parliamentary democracy of Malta has been in existence since the 1970s. The country gained its independence from Great Britain in the 1960s and forged its republic in 1974. Since that time the Maltese government has maintained a neutral stance in world affairs and has worked hard to create stability and peace with its neighbours. The country’s strong leadership and favourable international relations inspire a great deal of confidence among investors, expats and holidaymakers alike. Whilst the country only boasts three habitable islands and a population of circa 450,000, it has maintained a favourable view on the international scene.
2) European Union Membership Lends Itself to Creating a Comfortable Environment for Property Investors in Malta
Malta’s 2004 entry into the European Union has opened the doors for easier investment, closer ties with the whole of Europe and a sense of stability and camaraderie. All of these factors bode very well for boosting investor confidence in the country and its government. The move to the euro in 2008 makes this country very attractive to investors.
3) Stable Economy and Low Unemployment Rate Makes Malta Very Attractive
Malta does not have the biggest economy in Europe by any stretch of the imagination. What it does have, however, is stability. The country’s US$ 7 billion GDP is bolstered by tourism, shipping, financial services and electronics industries that are solid. Residents here enjoy a very high employment rate and low inflation. All of this is good news for investors who prefer stable, growing economies. Malta doesn’t enjoy massive gains, but it consistently holds its own.
4) Growing Tourism Industry Appeals to Holidaymakers and Investors
Malta is a tiny country, but it boasts a tourism industry that is very healthy and growing. The Foreign & Commonwealth Office estimates more than 450,000 Brits alone travel to Malta each year. The World Travel & Tourism Council estimates Malta’s tourism industry will continue to grow at a rate of 3.9% per annum through to 2017. This is excellent news for investors who want to cater to the holidaymaking crowd with buy-to-let purchases. Rental yields are estimated in the moderate 6% range in many Maltese holiday making destinations. With its beautiful beaches, wonderful climate and ancient historic sites, Malta is a favoured holidaymaking destination for many. It is also enjoyed by many expats and buyers of holiday homes.
5) Interesting History Draws Many Holidaymakers to Malta, Making this Location Attractive to Investors
Malta’s history dates back to prehistoric times. The group of islands once served as a base for Phoenicians and even the British. Its ancient ruins are legendary. The megalithic temples on some of the islands date back to 3500 B.C. Evidence of Roman visitors and other ancient civilizations still exists. The unique collection of ruins found within Malta make this destination a favourite among ancient history buffs and those who want to see some of the wonders left standing from humanity’s earliest civilizations. The unusual historical draws of Malta bode well for investors looking at buy-to-let strategies. The county is on many holidaymakers’ must-see lists.
6) Malta’s Geography and Climate make it a Favourite Destination for Many, Inspiring Long Term and Strong Real Estate Investor Confidence
Malta is one of the southernmost points in all of Europe. Located in the central part of the Mediterranean Sea, the archipelago is noted for its rolling hills, beautiful coastlines and bays, terraced fields and incredible weather. The country experiences hot, dry summers and spectacularly mild winters. With a close proximity to Sicily, Tunisia and Libya, Malta is accessible by many would be holidaymakers. The country is often considered a paradise between two continents. Its beautiful natural features and welcoming climate combine to make Malta very attractive to holidaymakers and investors with buy-to-let and buy-to-hold strategies.
7) Common Language and Traditions Make Many Feel at Home in Malta
Malta has a long and storied history. Whilst it was once settled by the ancient Phoenicians, it long stood as a British holding. Since its independence from Britain in the 1960s, Malta and the UK have maintained close ties. In fact, most holidaymakers and investors here find the customs, traditions and even language make them feel right at home. Whilst Maltese is spoken, English is the favoured language by many residents and is one of the official languages of the country.
8) Straightforward Buying Process Makes Investing in Property in Malta Fairly Easy for EU Members
Buying property in Malta tends to involve a process that Britons are very accustomed to. Since the country’s legal system is based on English common law, the ins and outs of real estate buying are easy to grasp. Whilst some restrictions are in place on foreigners buying property in abundance, there are exceptions to the rules. Britons, who are interested in the resort areas for example, will find it is often more than possible to purchase a variety of properties for buy-to-let potential and resale returns. The rules in regard to foreign ownership have relaxed greatly since Malta joined the EU. The overall process and its straightforward nature make Malta very attractive to investors who desire reasonable buy-in procedures.
9) Established Real Estate Market Makes Malta Attractive to Investors Who Don’t Enjoy Huge Risks
As a former British holding and independent country since the 1970s, Malta’s real estate market is anything but new. Whilst it does experience periods of ups and downs, the natural appeals of Malta tend to ensure hearty comebacks. Since the market is well established, prices here tend to be a bit higher than in riskier, developing regions, but they are still quite affordable by most European standards. It is possible to find apartments in the €100,000 range for example, and because there is a geographic restriction on the amount of property that can physically be constructed in Malta and an ever growing demand, there will always be a greater demand than supply of Maltese real estate which of course supports increasing property price potential.
10) Easy Access is Very Appealing for Buyers of Property in Malta
Malta is highly accessible by EU residents. Most airports in Europe offer direct flights to Malta, making travel here simple. Plus, the country’s transportation system is very well developed, ensuring holidaymakers and investors can get to where they desire easily. These things all combine to make Malta very attractive to investors seeking holiday homes or buy-to-let properties that they can easily inspect on their own and to which potential tenants and buyers can easily get.
From its Mediterranean coastlines to its ancient megaliths, Malta is a country like none other in the world. Investors looking at Maltese property will find the country holds promise for a number of very compelling reasons.
[Text courtesy of www.nubricks.com]