Overpricing

MALTA 7000 YEARS OF HISTORY - In the Heart of the Blue Mediterranean Sea

Natural beauty, peaceful lifestyle, rich cultural and historical heritage are not the only reasons to make the Maltese Islands an ideal home in the Mediterranean: they have much more to offer. Set in the heart of the Mediterranean, Malta is a one-hour flight from Rome, 2 ½ hours from Zurich, 3 hours from London and 3 hours from Dublin.

Maltese real estate is a safe investment; if the past is a reflection of the future then the property market is looking as bright as ever: 90% of the local population owns their home. The Maltese property market has never experienced a drop in value; rather, it has experienced an average capital growth of 10-15% per annum, depending upon the property type and location. Malta is a small island (17*9 miles): land is a limited and dwindling resource. Local demand is on the increase due to the population growth and a thriving economy. Since its accession to the European Union on 1st May 2004 the demand from non-Maltese customers has increased dramatically. In the past year major international investors have entered the Maltese market.

Tecom will be investing $ 300 million to build its European version of the Dubai Internet City, complete with offices, apartments, shopping mall, hotels etc. This major investment enhances the government’s vision of transforming Malta to an island of Excellence within the IT industry, known as Smart Malta.

The population of 400,000 is small but the property market is vibrant and historically stable, with 11,225 transactions in 2005 representing a total value of just over one billion euro. Malta offers retired persons a very favorable tax with a maximum of 15%, coupled with a long list of reciprocal tax agreements. Also international trading companies benefit from excellent fiscal rebates.

On 1st January 2008 Malta adopted the euro as it official currency, removing any hidden transfer costs and offering an even stronger and stable economy. Malta has the right ingredients and determination to succeed within the European Union.

Trafford Busuttil

President of the Federation of Estate Agents and Managing Director of Propertyline International.

WHY MALTA?

• Malta a member of the European Union
• Economic stability
• Currency euro
• English speaking population
• Publication of contracts in English
• Political stability
• Guarantee property title
• Reputable developers
• Good capital appreciation of property
• Ideal retirement home
• Long warm Summers and mild Winters
• Low tax rate of 15% for permanent residents (conditions apply)
• No Council Taxes
• Signatory to a number of reciprocal tax agreements
• International trading Companies maximum tax rate – 4.17%
• Local Banks finance 90% of the value of the property
• Low cost of living
• Served by low cost air carriers
• Friendly and secure environment
• Excellent telecommunications
• High Level of schooling
• Excellent health care services
• Yacht marinas
• Large variety of sports
• Varied entertainment

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