Malta property prices increases year-on-year

As published by Fly2Let
Date:August 2008

David Prizeman a former construction worker, who was originally from Dublin, first visited Malta back in 1990; in the same month that Tina Turner played a live concert there.

It was to be the start of a long standing love affair with the island, that 10 years later led him to make his first property investment on the island.

Now permanently based in Malta, David has invested in another property, this time at Tigne Point, which is part of a 450 million Euro brown field regeneration programme offering panoramic views over the capital Valletta.

David said, “My first investment was an apartment in Swieqi, which has served me well over the years. In fact I have just spent the last six months renovating this property into a four bedroom luxury maisonette with its own garden.

“However it was the Tigne Point development that caught my attention. A regeneration programme of this magnitude, in such a sought after location, ticked all of the boxes for my investment requirements.

“Since I first visited Malta, the island has become far more accessible. In the last year alone, Ryan Air has increased direct flights from Dublin to three times a week. This in its self should give a good indication as to the growing popularity of the island. The number of property investors is at an all time high.

James Vassallo Senior Sales Manager for Tigne Point Marketing Ltd said: “Malta is unquestionably becoming far more cosmopolitan than it has ever been before. We regularly receive up to 1.2 million tourists per year and this figure is growing steadily as Malta continues to attract discerning tourists, investors and new businesses from overseas.

“Developments such as Tigne Point further enhance Malta’s reputation as a Fly to Let second home destination where quality of life and convenience take centre stage – these mixed use schemes have been pivotal in positioning Malta on the real estate map of the Mediterranean and have helped attract a whole new wave of international buyers drawn by the unique lifestyle of the islands.”

T10 is the latest residential development to be released at Tigne Point and offers a selection of 59, one, two and three bedroom contemporary apartments along with six penthouses.

On the eastern tip of the Tigne peninsula T10 faces the mouth of the Marsamxett harbour and is close to the new state of the art shopping centre. Additional facilities include private swimming pool, clubhouse and premium health and sport facilities and the attractions of the recently restored 18th century Fort Tigne, the last fort to be built on Malta by the Knights of St John.

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