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what about Malta?

Discussion in 'Cyprus Property' started by AlexBu, Oct 30, 2007.

  1. AlexBu

    AlexBu New Member

    Hi everybody,

    I was wondering if Malta could become a new attractive place for property investments, such as Cyprus

    Malta is in the UE, and it's moving to Euro in the first months of 2008. Not only but investors from the UAE are going to build "Smart-City" in Kalkara, a model of business area based on Internet City or Media City in the EAU, making the country even more attractive

    If you consider that English is one of the official language, and that it's a beautiful Mediterranean island, perfect for tourism, I wonder why nobody speaks about it?

    Are there any problems in the buying process?

    Let me know,
    Cheers
    Alex
     
  2. Ann Jenkins

    Ann Jenkins New Member

    Yes, Malta is certainly growing in the property investment sector!!!

    Most definitely!! Malta is surely up and coming in the property investment field and is viable as a second home location with easy access to all amenities bearing in mind the size of the island. It also lends itself well in the "buy to let" investors section, especially for short term rentals in particular. The new avant garde property development projects in the offing offer a "lifestyle in the sun" with the latest designs and amenities. The North of the island is particularly beautiful! Add this to friendliness, safety , ease of communication , beautiful seas and glorious weather, culture and history and what more can you ask for?







     
  3. AlexBu

    AlexBu New Member

    hi

    Hi Ann, for both of us it's the first post ever in this thread, it seems we gathered here to support Malta's market! well, actually I'm working on other countries, and I was just curious about Malta :)

    Any leaseback in this country? it would be good to find holiday homes with this scheme there (tax advantages, guaranteed rental income, managed properties), probably there could be something similar in SmartCity ( //smartcity.ae/malta/ )

    Let me know,
    Cheers
     
  4. Ann Jenkins

    Ann Jenkins New Member

    How about Malta?

    Hi Alex,
    Well I live in Malta and there are many new positive projects in the offing. I am involved in a project which will be launched very soon on the market which would offer state of the art accomodation, managed facilities, shopping plaza, outdoor pool (1200sq m.) indoor olympic size lap pool, indoor virtual golf and a prestigiuos hamam spa.(3000 sq metres and fully equipped gym. It is situated conveniently close to all sandy beaches in picturesque , tranquil surroundings with easy access to outdoor activities such as fishing, water sports, hiking,sailing etc.There is also a proposed marina in the area so boat owners would find it extremely convenient.There is a choice of seaview or country view accomodation ranging from studios and one bedrooms (ideal for rental investment) upto four bedroomed and also penthouses with their own private pool! The launch should take place in March 2008 but pre launch prices will be available before that.The International Facility Management Company will be offering rental services for purchasers aimed at short stays for people who are seeking a luxurious break with five star facilities but at a better price. As you can see there is alot of seriuos investment going on in Malta and now would be the right time to be involved.
    Designated areas such as this project allows foreigners to purchase multiple units and there is an added attraction, bearing in mind the tax incentives that are being offered to foreigners. Malta's tax legislation provides for relief from double taxation and there is also a low flat rate of income of 15% with a minimum tax liability of LM1,800 (E4,193) after double taxation relief per annum. Businesses are also offered very favourable incentives.

    Have you ever been to Malta ?

     
  5. AlexBu

    AlexBu New Member

    Hi Ann,

    What you say is very interesting, unfortunately I've never been to Malta but some months ago I was working with colleagues who were native Maltese, so we were usually speaking about current investment opportunities there!

    I'm sure you will find a lot of people interested in the project you're following. Is the rental income guaranteed for these properties?

    Cheers,
    Alex
     
  6. Ann Jenkins

    Ann Jenkins New Member

    Hi Alex,

    You should come to Malta. Its a very welcoming place and most people fall in love with it! Regarding the rental investment guarantee: - Unlike other projects in other European and Meditterreanean countries where prices were inflated in order to offer guarantees and customers were left disappointed, the system we have works as follows:-

    A rental management company has been appointment solely for the rental of the apartments available for rent against a commission so the sole income of this said company is derived from doing their utmost to make it work! The facilities included (unlike other luxury residences in Malta) offer the use of the Hamam spa, gym, outdoor and indoor pools, all included in the price of the rental. . As you can see the rental attraction is amplified when taking into consideration the fact that there is no similar facility on the island whereby a visitor can rent out luxury self catering accomodation with all the above included. Each block has its own concierge, underground parking and twentyfour hour security. All apartments are fully air conditioned with designer kitchens and state of the art finishes. A study of renting out a studio for 70% of the year is estimated to yield 9.23% per annum. This is being quite conservative.
    The owners of the project are 50% Maltese and 50% Kuwaiti. They both have a fantastic reputation and track record in both their respective countries which makes investing in this project a very sound one. Actually its all very exciting since this project is set to be the STAR!! I am investing in this property myself.


    Regards
    Ann



     
  7. cin7166

    cin7166 New Member

    Hi,

    I've been to Malta and it really is a lovely island. I would live there tomorrow, but I thought the property was already expensive.

    Ann, the development you mention sounds great! Please keep us posted on any updates.

    Regards,

    Cheryl
     
  8. Ann Jenkins

    Ann Jenkins New Member

    Dear Cheryl,

    How lovely to hear from you. The project I have been talking about will soon be officially launched and I will then be able to reveal prices etc. All I can tell you is that this dream of a place will cater for all pockets!! If you send me your e mail I can keep you posted. The development is flanked by country and seaviews and with the facilities included, just imagine arriving home daily to a sauna, steam bath, gym , indoor or outdoor swim.......and its all included with the purchase..................just my kind of life!!!!!!f

    Regards, Ann
     
  9. grumpy001

    grumpy001 New Member

    There are many attractive new porpositions all over Europe which is great, my main concern is with many of the new "Eastern Block countries" that are coming in. I see Bulgaria etc being marketed as a high yield investment, however I rarely se many articles about the infrastructure or climate they have.
    Good luck with Malta
     
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