Malta has witnessed a rise in property prices in the past 12 months compared with a significant drop in the rest of the EU, according to the latest statistics.

Compiled for the first time by Eurostat, the EU’s statistics arm, the House Price Index shows that Malta’s property prices in the third quarter of 2012 were on average one per cent higher when compared with the same quarter of 2011.  On the other hand, the price of property in the rest of the eurozone fell by an average of 2.5 per cent during the same period.   The report said the steepest drops in property prices in the eurozone were recorded in Spain (15.2 per cent), Ireland (9.6 per cent), the Netherlands (8.7 per cent) and Portugal (7.7 per cent).  However, the value of property in Estonia and Luxembourg increased significantly by 8.4 and 7.1 per cent respectively.  Property prices are considered to be one of the pillars of economic activity and normally indicate how the economy of a particular country is doing.  This is the first time the EU has published a House Price Index which will now come out every quarter.  Eurostat said house price evolution was important for economic and monetary policy, in particular monitoring of macro-economic imbalances and of risk exposure of the financial sector.  It is also relevant for households, as it measures changes in the prices of the most import-ant component of households’ expenditure and wealth. The data includes price developments of all residential properties, from flats to detached houses.

Resource: Times of Malta

Remax’s Malta franchise registered €118 million in property sales last year, scoring its eighth successive year of growth. Sales were up eight percent over 2011 while the franchise saw a 37 per cent increase in letting, managing director Kevin Buttigieg told The Times Business.

Remax Malta registered sales of €106 million for 2011. It now expects the property market to see a turnaround in the third quarter of this year when Mr Buttigieg says prices should start to climb.

“Last year was tough and there was a lull that was difficult for all of us,” Mr Buttigieg said. “Prices remained stable, however, and the rental sector is booming thanks to igaming, financial services and third party leasing. We have seen huge increases in the higher end rental market with some rates reaching €5,000 a month.”

Mr Buttigieg explained a significant number of sales were driven by rental investments as investors continued to look to the property market for better yields.

Property of all sizes, acquired in the right location and furnished appropriately, is currently able to return five to eight per cent in the current climate, he added.

Commercial rentals by Maltese clients are growing under a trend which is gathering momentum. Office block owners are increasingly seeking to cash in on their investment and choosing to rent space in the property they previously owned.

Property coming to the market in this way is being snapped up by financial services firms and expanding igaming companies.

“Leasing benefits sales and vice-versa,” Mr Buttigied added. “Two banks became less bureaucratic in the second half of last year, and that helped the market.”

Remax attributes its growth in market share last year to the investment it directed to technology, training, and innovation; the company clocked 750 hours of training.

Its Exclusive Listing initiative launched in 2011 sees 95 per cent of property featured sold within an average 55 days. The initiative will be formally launched in two weeks with 35 properties in its portfolio. Mr Buttigieg added that the company’s own property manager firm had contributed to boosting ‘buy to let’ sales and was currently managing 100 condominiums.

Remax Malta has won a collection of accolades for its performance last year, outshining other franchises within the Remax family around the world.

Its St Julian’s office won first place for transactions, while agent Lorraine Bonnici placed third in Europe. Remaxmalta.com is the top performing portal. At Remax’s convention in Las Vegas last month, Remax Malta was nominated for the top region of the year award which later went to Argentina.

Meanwhile, Remax Malta is handling its first referral from Remax China, which was recently established by a Hong Kong conglomerate. The China franchise has set itself ambitious targets involving 3,000 offices and 60,000 agents. Mr Buttigieg is hoping for more referrals from China where business prospects are promising.

Source: Times of Malta written by Joanna Ripard

RE/MAX Malta has registered a ninth consecutive year-on-year increase in turnover and growth in 2012.

This was announced by RE/MAX Malta’s Chief Executive Officer, Kevin Buttigieg during the Company’s Annual General Conference which held at the Hilton Malta.

During his address to the 192 RE/MAX affiliates he said that “Although 2012 was one of the most difficult years in real estate history, the company faced the challenges head on and was rewarded with yet again another successful year.” He added that the company started seeing the fruit from the years of laying down a solid foundation. “We have invested in technology, in brand marketing and public relations and most importantly in our people through the RE/MAX Academy which today we are proud of as part of a large RE/MAX family.” He thanked all the administration, associates, managers and franchise owners for their collective efforts throughout the year and announced plans to further expand the network in 2013 by opening at least three more new offices in Malta.

Jeffrey Buttigieg, Regional Director, gave an overview on IT, education and marketing where he also announced that RE/MAX Malta was nominated by RE/MAX LLC as International Region of the year. He said “It is an honour to be nominated as the International Region of the Year.” “The company strives for excellence however an achievement like this could not be possible without the clear dedication from our franchise owners who all share a common vision”.

Edward Agius, the Letting Manager gave an overview of performance related to residential and commercial letting carried out by the Letting division and congratulated his team for reaching the milestone of a 40% increase in turnover. Finally, Joseph P. Theuma, general manager of the Group gave a graphical presentation highlighting the milestones and achievements of 2012 which was followed by an awards ceremony and a cocktail reception.

In the category Most Service Fees generated the top individual performers in property sales of RE/MAX Malta in 2012 were Reuben Cini, Mark Schembri and Mark Sapienza respectively.. Roderick Cucciardi won the award for most listing sold whereas Karl Cutajar won the award for most promise of sale signed throughout 2012. As for the Top Office Awards in property sales, RE/MAX Real Estate Specialists won Top Sales Office Per Capita/Day whereas RE/MAX Alliance, Tigne won the award for Top Office, Most Service Fees Generated. The top individual performers in property letting were Michaela Tabone, Lorraine Bonnici and Jason Cornthwaite who came first, second and third respectively whereas Mario Caruana won the award of top listing associate.

The individual top winners of the awards are provided a complimentary trip to Las Vegas to attend the RE/MAX International Convention.

Ta’ Monita is found in Marsascala – a seafront village found in the South of Malta. The project is a joint venture between Tumas Group and Gasan Group of Companies – two of Malta’s leading development companies – offering a luxurious residence to those wishing to reside in the south of Malta.

Covering an estimated 16000m² footprint, Ta Monita Residence includes several one bedroom, two bedroom, or three bedroom apartments and penthouses, several of which offer fantastic views of Marsascala …. View:  Property in Ta Monita Residence

Malta has Mediterranean climate with mild and wet winters and hot, dry summers. Spring and autumn, are the best seasons to visit, when the temperature is pleasant and the sea is good for swimming.

Situated in the heart of the Mediterranean Sea, Malta is a country made up of 3 amazing islands. These Islands were part of the Great Briton and in 1964 they earned their own independence. National Language is Maltese , however English is spoken by 99% of the country and is recognized as an official language.

Since the introduction of low-cost airlines Malta has become a very popular tourist destination. Accommodation in Malta is relatively reasonable and one may opt to rent a holiday apartment in Malta. There are few things you should know about renting an holiday apartment in Malta. The holiday home you choose could define your Malta experience thus it is important that you utilize a reputable local real estate company that can assure that you receive a fully comprehensive service during your stay.

The easiest way to arrive in Malta is by plane. Malta has an international Airport – the Malta International Airport. One can still travel by car or by catamaran however this is for those that are interested in travelling overland which is a completely different experience. It is always advisable to make accommodation arrangements prior to your arrival in Malta.

You may rent a holiday apartment in Malta through a reputable real estate agency in Malta. Booking through an agency as opposed to directly through an owner is a guarantee that should something go wrong, the real estate agency in Malta would be responsible to ensure that any problems are dealt with or if worse comes to worse they may even opt to find you an alternative.

Most holiday apartments in Malta are fully equipped and have the following should come as standard: TV, heating/airconditioning/fans, all kitchen utensils, linen, washing machine, electric kettle, toaster and fridge/freezer. More luxury holiday apartments may include various other amenities however it is of utmost importance that you review the website and ask questions to avoid any disappointment.

A holiday in Malta is ideal for those who prefer to live at their own pace. One of the advantages of renting an holiday apartment in Malta is that you will save in the daily living costs, especially on breakfast which is generally built into the cost of the hotel.. In Malta you can find history, culture, entertainment: water sports, spectacular scenery with cliff-edge sea views, marinas as well as underwater caves. The public transport is excellent having only recently changed their transport system to modern buses run by an international company. There is also a great number of Taxi and Chauffeur services available in Malta.

Here in the Mediterranean, it usually can’t get any sunnier than sunny Malta. With an average sunshine lasting five to six hours a day in winter and more than 12 hours a day in summer, the island boasts highly enviable seasons which are ideal for those who hanker after the sun’s warming rays of light after spending most of their year in gruelling winter weather. Read original article here: Preparing to spend summer in the sun – renting options in Malta

RE/MAX Malta recently announced the launch of the Exclusive Added Value Listing, an innovative way of selling property in Malta. The Exclusive Added Value Listing is a professional service that RE/MAX Malta are providing to home owners that are interested in selling their home within a minimum amount of time and at the top end of market value. When signing up for this service, which is free to the home owners, the company provides a comprehensive evaluation of the home, prepares a comparative market analysis and implements a marketing strategy that has proven to sell homes within 90 days.

Included in the service is also a staging of the property by a qualified personnel and interior designers who will style the home, take professional photography as well as provide free consultation to the home owner on how to prepare the home before a viewing. Should the property be in shell form or a plot of land with planning permission, the company will go through the expense of creating 3D image designs of the home so that they will be in a position to provide buyers with a real life presentation of what the individual units will look like.

Speaking about the service, which is already being provided to the general public, RE/MAX Malta, managing director, Kevin Buttigieg said that, “This way of selling property has been around in the United States of America for over three decades whereas in Europe, Exclusive Listings have been around for a bit less than a decade. We have spent over eighteen months researching and developing the feasibility of this project and thankfully today, our research has bared fruit and we are seeing very positive results.”

The company went through great lengths to ensure that home owners would receive the full benefits from their new service. The marketing efforts that are invested into each Exclusive Added Value Listing is very extensive. This includes top placing in search results of their website, which receives over 3.2 million page views a month, an individual brochure for each property, a website created specifically for the property with its own URL, daily advertising through Facebook and other social networks, a large banner affixed to the façade of the property and other marketing activities that complete their offering.

The company has also invested heavily in training their agents to provide the service for the Exclusive Added Value Listing. Their in-house dedicated trainer and International speaker for RE/MAX Europe put together a specific training programme which every real estate agent working for RE/MAX is required to undertake. The course includes dealing with the sellers, providing weekly feedback and most importantly specialising in a niche area and learning to personally market Exclusive Added Value Listing through their network of buyers and fellow associates that work within the same niche area. Each sales associate at RE/MAX is encouraged to work in specialises areas so that they are able to focus on particular properties in specific towns and villages in Malta. Using this procedure, the agents are in a better position to understand the market they are working in and are able to provide more knowledgeable advice to home owners and buyers alike.

Michael Polzler, the Managing Director of RE/MAX Europe has commended RE/MAX Malta for their efforts in being the first to launch Exclusive Listings to Malta. He said that “It is the mission of RE/MAX to change the way real estate is sold in Europe by not only providing a superior service to vendors and buyers alike but to also provide a different experience that is a more effective way of doing business in today’s real estate market. I am very proud that RE/MAX Malta have not only brought this new way of selling property to Malta but as leaders in the Industry they are also setting the service level standards which will improve the whole real estate Industry.”

The service of the Exclusive Added Value Listing is taken with great care and professionalism by RE/MAX Malta. As part of the listing process, each property is vetted by a committee of managers and senior associates that will have the necessary experience in the town in which that the property is located. In this way they will be able to assess the quality control of the listings.

This service is new to the market in Malta and benefits both home owners and buyers alike. Mr Buttigieg added that “Although we are providing a specialised service to the vendor, the buyer in Malta also benefits automatically. Because the approach is so professional, the buyer really is able to view a property online and offline much more clearly before they actually visit the property. To add to this, since our listing agents specialise in their respective specialised areas they are what we call in real estate “Gurus” in the area of choice of the buyer. There is no other agent that can offer such a personalised service and that understands the market better”

Last Saturday the Maltese Government launched the new Global Residence Programme which is replacing the HNWI Schemes that were introduced by the previous Government.  The New Maltese Government sought out consultation from the various stakeholders and have come up with a much more attractive Global Residence Programme.

The programme has been created to attract further investment into Malta from both European and Non-European Individuals living outside the European Union and those living outside the European Economic Area.    One of the major changes that will affect those Non-Europeans is that the bond of €500, 000 which will be a relief.  Other changes is the amount one must spend on purchasing a property or renting a property.  The Previous amount was over €400, 000 where as with the Global Residence Programme the amount is €275, 00 if a property is purchased in Malta and €220, 000 should the person opt to purchase a property on Malta’s sister Island of Gozo or in the South of Malta  The rent amount was €20, 000 where with the new Global Residence Programme the new amounts are €9, 600 for Malta and € 8, 750 for Gozo or the South of malta.

The tax bracket remains at 15% where as the tax threshold has been reduced to € 15, 000 on worldwide income. It is said that those that have previously applied for the retirement scheme and the HNWI can easily opt for the new Global Residence Programme.  According to local experts, this new Programme has put Malta straight back on the Map for those seeking new residences.  Malta is a beautiful country to live in, the lifestyle is not only magnificent but crime free and and added Bonus is that English is practically the local language with Maltese being widely spoken as well.

The educational system is excellent, the Finance industry in Malta is rock solid and the property Market is one of the only EU countries that is actually on the increase in capital investment. Recently, Malta was ranked by Yahoo’s index as the best place to retire whereas only 2 years ago Malta’s climate was ranked No 1 Climate on the planet. There are already a number of Permanent residents in Malta. Those that were introduced to Malta after the 1994 as well as the latest additions that have become residence with the new HNWI.

Will the new Global Residence programme attract foreign investment and was the idea to remove the HNWI completely a good thing?  The Global Residence Programme is a great initiative that will attract New foreigners and will hopefully reignite the Foreigners that were considering Malta before the change to the HNWI.  The idea is a smart one. Though it is nice to attract the more wealthy individuals to your country, the limits that have been set now are reasonable.  The programme should be welcomed by all!

The advertised prices of properties have continued to rise, jumping by just over six per cent in the last three months of 2011 compared to the same quarter in the previous year, the Central Bank said yesterday.

Its survey shows that the increase was primarily driven by higher prices for upmarket apartments.

Last year as a whole, the bank’s index increased at an average rate of 1.3%, following a rise of 1.1% in 2010.

Although the rise during the last 2011 quarter was spread across all housing categories, among the most significant increases were in the prices of apartments.

Making up almost three-fifths of properties in the sample, they saw an annual increase of 6.4%, with a higher number of advertised upmarket properties contributing to this rise.

Over the year as a whole, apartment prices were four per cent higher than in 2010.

During the fourth quarter, asking prices in the “other” category, which consists of townhouses, houses of character and villas, rose by 15.4%, largely as a result of higher asking prices for townhouses and villas.

However, for the year as a whole, prices in the “other” category, which are relatively volatile, dropped by 2.5%. In addition, prices of maisonettes gained 3.6% during the quarter, resulting in a 1.7% increase over the entire year.

On the other hand, asking prices for terraced houses remained unchanged during the quarter, resulting in an overall decline of 0.8% during 2011.

The bank noted, however that the number of advertised properties contracted by seven per cent on a year earlier in the December quarter.

http://www.timesofmalta.com/articles/view/20120627/local/Flats-fuel-rise-in-property-asking-prices.426123

There are varied ways in which one can choose to paint Malta with diverse perspectives being adopted according to each artist’s personal inclination. The work of artist C.S.Lawrence has included a huge chunk of artwork inspired by typical Maltese characteristics that help to render the island and several of its key locations that much more unique.

The artistic work of C.S.Lawrence has become a constant presence within local artistic events and she has contributed to the local art scene with her regular participation in collectives and her personal collections being exhibited in public. It helps to understand something of the artist’s background, especially since her background is so variegated and steeped in cultural uniqueness.

“My paternal grandparents originated from Malta. They emigrated to Port Said in Egypt during the early 1900s and my father was born there. When my father was working in Dubai in the ’70s, he bought a house in Malta and we would regularly come here on vacation. During my childhood I lived in Nairobi, Mombasa and the Middle East but also in Surrey, England. When I decided to move from the Middle East to Malta in 2000, I began the process of applying for a Maltese citizenship which I ultimately acquired. It was during this procedure and the procurement of all the necessary paperwork, that I discovered how my paternal roots lay in Bormla alias Cospicua as it is also known. Largely on account of that I decided to settle and open up an art studio in Bormla.”

Being one of the Three Cities, Bormla offers the artist plenty of inspiration to paint the several seascapes which characterise her work. Whilst the sea is much loved by her as well as all variations of blue, Caroline claims it is also the architecture and ambiance of the historic areas of the Three Cities, Valletta  and Mdina which excite her, apart of course from the stunning colours of the rocky coastline of the island.

A widely travelled person, she must have visited many a tantalizing location. So what magical aspect of Malta  inspired her to choose it and stay on permanently? “In spite of all the damage I have seen being done to the urban areas of Malta, still Malta remains a fantastic place to live. Particularly for an artist. Particularly for an artist living in the Three Cities. It’s magical. The colours of the land and the sea continually inspire me. I have spent most of my life living near the sea and I fully intend to spend the rest of my life doing the same. I think the sea has a very calming effect and encourages a contemplative mood which helps one to detox the mind of all the stresses and strains that daily life exacts on us and in so doing, keep in perspective what’s important in one’s life.”

Whilst admitting that her favourite scenic spot is The Grand Harbour, Caroline S.Lawrence admits she would definitely change all the ugly matchbox-like, built-up areas of Malta’s towns and villages, because they do not respect Malta’s rich architectural heritage. “On the other hand, I would you never change the Grand Harbour region of the Three Cities and Valletta, because each corner of this part of the island is a living, breathing museum of invaluable wealth, both from an historical as well as a cultural perspective. These cities are testimonials to Malta’s rich history and heritage.”

The artist is currently building up a collection of  paintings in which she wants to merge her fascination of street art, urban wear and tear, with iconic images that capture the essence of the subject. “In my new paintings of Valletta I want to incorporate all the things that I identify with Valletta: the long steep stepped lanes, the ornate church facades with their statues standing in niches, street corner statues, beautiful old faded shop signs, cafe life….”

C.S.Lawrence’s artwork can be viewed on http://www.cslawrence.com/