Property prices appear to have increased slightly in 2012, up by an average of 0.5% according to the Central Bank’s advertised property price index.

Despite the slowdown in business activities, the performance of both the construction and real estate sectors was described as positive in 2012, the Central Bank said in its annual financial stability report.

“The generally stable situation in the Maltese property market contrasted sharply with continuous depressed conditions in real estate markets in several euro area countries, nota­bly Ireland, Spain and Greece. The rise in domestic property prices was, however, not sufficient to offset the downward movement in prices that occurred in recent years, particularly in 2008 and 2009,” the Central Bank.

Despite stable property prices, the volume of property sales, both for residential and com­mercial purposes, declined. The Central Bank said property Was still perceived to be somewhat overpriced for both residential and commercial catego­ries.

The number of units for which permits were issued by the Malta Environment and Planning Authority declined by around 22% in 2012, when compared with the same period a year earlier. “The slowdown in the issue of such permits may reflect the oversupply of property in the real estate market. This may continue to persist, in view of slower growth in mortgage credit and the uncertain economic outlook overseas, which has a negative impact on foreign demand at the high end of the market.”

On the positive side, the Central Bank noted the government’s re-launch of a revised permanent residence scheme in June 2013, with the objective of attracting more for­eigners to buy property in Malta.

The generally subdued sentiment in the Maltese property market induced banks to maintain their cautious approach when lending to the construction and real estate sectors. The exposure to the construction sector accounted for 21.5% of corporate loans, while lending to the real estate sector amounted to around 8%.

Mortgage lending by domestic banks increased by 6.8%, but consumer lending contracted by 1.2%, while corporate credit contracted by 1.1%. Customer deposits remained the main source of funding of the core domestic banks, increasing by 5.6% during the year.

In 2012 the profits of the core domestic banks rose by more than a third, reflecting a steady income stream from their traditional banking business operations. These banks remain exposed to the construction and real estate sector, due to the increase in the level of non-performing loans.

As reported by Malta Today on 23rd August 2013

There are several Non-European Nationals considering moving to Malta again due to the recent changes in the law related to residency in Malta made by the new Labour Government where they have reduced property price minimums and completely removed the 500 K bond to provide further incentivise investment and residency in the country. Property in Malta reports that there have apparently been several new requests from South African Nationals considering Malta as their new Malta residence Scheme. Speaking to a South African national about recent developments who wished to remain anonymous said “Malta is on the same time zone, the weather is almost like home and being an ex-British colony means that there is a great British influence which has resulted in the fact that most Maltese speak in English.” “Most importantly there is practically no crime rate which is very inviting.”

On the 16th of May 1997 Malta and South Africa signed a double taxation treaty which means that South African Nationals that claim Malta as their residence will only have to pay tax in Malta. The two states have a long term trade relationship with the Maltese exporting mainly pharmaceuticals, machinery and mechanical equipment to the African destination to the tune of €2 million in 2006 and just over €850 000 in 2008 according to reports. Malta on the other hand have imported mainly fruit and nuts, beverages, spirits, and paper from South Africa in the region of €1.7 million per year on average.

Malta has a population of just over 440, 000 people and summer lasts for at least 6 months of the year, the country has every modern amenity and their properties are of a very high standard and come with decent %age of capital appreciation rate considering 95% of Europe’s prices are in the doldrums. The Malta real estate market is vibrant and their coastline is spectacular with amazing oceanfront properties practically touching the beautiful blue Mediterranean Sea from where you are able to spot the fish from your terrace views. The Island also has some award winning developments in Malta namely the Portomaso Marine development in the heart of St. Julian’s, Pender Gardens also in St. Julian’s, Tigne Point which is overlooking the 2018 Capital of Culture, Valletta from Sliema, Fort Cambridge in Sliema, Ta Monita in the south of Malta and Fort Chambray located on Malta’s sister Island amongst others. These properties offer luxury accommodations to say the least and all have their own little character and add even reason to live in Malta or Gozo.  The price minimum for Malta is €275, 000 and for Gozo and the South of Malta the minimum there is €220, 000.

If you’re in Business then Malta also offers several benefits and advantages. Many a South African have taken task to base themselves in Malta and this works. The highly educated workforce and Malta Infrastructure supports businesses with very advantageous tax benefits, diminishing your corporate taxation bill to a mere 5% if your business fits within the criteria.

Just to add some more food for thought we’ve lifted this

Infographic from another website(http://www.ifitweremyhome.com/compare/ZA/MT) that compares living to Malta to living in South Africa. It does sound exaggerated maybe but statistically it is true. If you are delving into the idea of a move we think Malta could suit you. A webinar is taking place on the 26th September 2013 @ 5pm CEST. If you are interested in listening in please feel free. Here’s the link

There is a lot of hype about the new fangled ways of making our homes environmentally friendly and of finding cost-effective methods of diminishing our water and electricity consumption bills. Yet, when looking at old Maltese houses, one remains impressed at how most of them were created with a great deal of insight into how architecture can turn a simple family home into a haven that beats all weather odds.

Take old farmhouses. The barren outside reveals a generously distributed inside. Generally the first thing you step upon passing the front door step is a small or large central open courtyard (Spanish hacienda style) out of which the entire house radiates into different rooms. The central courtyard provided fresh air to all the house. It also provided considerable shade from the walls that encircled the open enclave which was usually supplemented with a generous inclusion of foliage creepers and other greenery. The space was also excellent for keeping all the family’s animals and allowing free communication between different members of the family, whatever chores they were doing in the different parts of the house.

Every self-respecting farmhouse possessed its own deep water well which contained rainwater collected from the flat roof (or roofs) of the house. Wells were generally excavated out of rock and the more typical ones were bell-shaped, containing more water on the lower extremity. This meant that the water was not stored immediately under the house’s foundations but deeper down beneath the rock which supported the foundations themselves.

Roofs were covered in solidly packed layers of hand-crushed clay particles that created a superb insulation from the scorching rays of the sun whilst maintaining impermeability to safeguard the roof’s security and stability. Ceilings were very high which meant that hot summer air could rise up, leaving a semblance of cool lower down in the room. Walls in farmhouses were exceptionally thick. This made rooms  well insulated one from the other, keeping the noise under control. Something else which thick walls controlled was the heat of the summer season, whilst maintaining the warmth indoors during winter. Windows were small and peeked out from the thick walls to filter sunshine. No large windows were allowed to bring in the sunshine for the old Maltese folks… they had enough sunshine to contend with in the fields each day.

Moving out of the countryside and into the village cores, we can check out the town houses or small palazzos. Again, roofs were constructed in much the same method up until WWII or therabouts. Ceilings were also very high and wells very deep and large to contain the large quantities of rainwater from the generally larger roofs. Windows were larger, long and narrow since town houses were rarely detached and mostly looked out onto alleys or narrow village streets. However they were covered with wooden louvres that filtered sunshine perfectly. Front doors were majestic yet did not introduce one directly into the house. They opened onto a glass door known as an ‘antiporta’ that again, let in the light but allowed nobody in. During bad weather, the ‘antiporta’ served as a second barrier to the great outdoors.

If you check each and every room in a town house, you will notice a screened ventilation vent in the upper corner of one wall. This vent  was generally connected to the roof on the upper floor and to the outdoors in the ground floor. The vent served the purpose of aerating the room even when all windows and doors were closed – a superb way of countering off humidity and mould. External walls always had a double strata of stone bricks in order to maintain heat and cold out. This was especially so on the front and back of the house and on the side if this was exposed to the elements.

The courtyard was still a central focal point but was shoved further back on the ground floor level, generally leading out of the hallway and on to the garden. Smaller town houses had a reverse method of installing a courtyard at the back of the house which however was preceded by a ‘loggia’ or covered glassed space that was excellent for bringing in the light without being completely ‘outdoors’

A neat method of bringing in light without taking the town houses occupants outside was via the wooden balcony, traditional, spacious and a welcome step towards the external world. Screened, veiled and as cosy as its owners needed to make it, it served several purposes – conservatory, storage, clothes drying, people watching, festa watching, etc

Once you know all this about old Maltese houses, chances are you will respect them and their builders that much more.

This article was written by Marika Azzopardi, a freelance writer and journalist. A frequent contributor to national English language papers and magazines, she writes about a bevy of topics including art, people and life in general. She is also the author of children’s books and short stories, delving into adult fiction from time to time.

A new article has arisen with regards the controversial Citizenship for sale scheme that the Maltese Government has recently announced.  Non-Europeans can today purchase a Maltese Citizenship for €650, 000 but it is not clear if they even have to visit Malta ever.  The Malta real estate market is also commenting on this latest announcement.  Would the New Malta Global Residence Programme be over looked.

Would you go for the Malta residency or Citizenship?

RE/MAX Malta recently launched a page on their real estate agency website (www.remax-malta.com)  with some interesting facts about the property market in Malta and with reasons why it does make sense to purchase property in Malta. From the article the real estate company confirmed that property prices did in fact decline slightly but this was a price correction in the market due to the Global crisis. On the other hand they confirmed that capital appreciation has been steadily increasing over the last few years with the high-end market seeing increases between 2.5 – 5% above average.

To read the original page on their website go to Why Buy Real Estate in Malta

The benefits of staying in a five star hotel are endless. Fresh clean linen every day, breakfast served, excellent restaurants in the complex, a choice of pools, gym facilities and I can go on and on. The thing is that staying in a five star hotel can be overrated if you have the opportunity of staying in Tigne Point where the standard of the property and the location may possibly even beat the luxury of a hotel. Imagine waking up to the fantastic views of the World Heritage City Valletta. Imagine having every possible luxury amenity in your Tigne Point apartment; including Free Wi-fi, Freshly Crisp Towels, Living Room with 42 inch TV. It wouldn’t be so bad?

Recently a businessman and his two colleagues had trouble finding a five star hotel in the month of August. During the peak season in Malta besides there being several company incentives where businesses plan trips for their staff, when you hit the late part of August you are touching the start of the conference season. The possibilities of finding a hotel during this time of the year unless you book in advance are difficult let alone finding three rooms. The agent that was dealing with the businessman recommended an apartment in Tigne Point. He sold it on the idea that it would be cheaper but the quality of the property and the location was even better. It turned out that the client loved the apartment, location and every aspect of idea.

The businessman that requested to remain anonymous said “Tigne Point is a wonderful complex, with a great pool area, shopping mall, supermarket and excellent atmosphere in the Piazza with the added benefit of having a variety of restaurants to choose from.” “It is simply a different world especially the apartments there – they have a superb quality of finish and are excellently furnished as well.”

Tigne Point, a mixed use development is an exclusive complex located at the peninsula of Sliema and is surrounded by Fortifications built by the Knights of St. John. It is an ideal location to stay in for that Holiday or even business trip. There is one of the largest shopping centres located within Tigne Point however if you may prefer to check out the hustle and bustle at the High Street it is recommended to check it out. Every morning you may avail yourself to fresh croissants, excellent Italian coffee and then head out and endeavour yourself into the abundance of shopping that is available.

An excellent pool facility, great atmosphere at the Piazza, Luxury apartment…. It sounds like a plan.

RE/MAX Malta real estate agents recently launched a neighbourhood guide for St. Julian’s in Malta to further assist foreigner’s seeking to relocate to the Town where they would either purchase or lease a property. The guide is a brief summary of the city however if provides relevant up-to-date information about the lifestyle, beaches, restaurants, accommodation as well as the real estate market. The guide also features over thirty easily accessible links that direct the users to relevant search results based on the type of property and the budget criteria of the user. The page can be found here http://www.remax-malta.com/saintjulians.aspx

As part of the company’s digital strategy the real estate giant in Malta intends to continue to provide more relevant information to further enhance the customer experience.

Malta is probably the only European Island country where you can touch down, drop your bags, and start communicating with the natives immediately. This is something I feel we tend to take for granted forget to realise that this is salient point, which is a very important factor that allows ex-pats to easily settle in.

In France, Spain, Italy, Greece you are always going to find a language barrier and although the Austrians and Germans are much better at helping you out, one will not find a place like Malta where you are immediately greeted, understand the signage, traffic signs and get straight into what ever you arrived to do.

The British blessed us with their rule and if there was one thing that they left behind, it is the English Language.  English must be the widest spoken language around the world.  Those reigning from South Africa, Botswana, other African Nations, Britain, Australia, New Zealand as well as the Americans have always complimented that having some 95% of the people speaking English not only helps business communications it makes Malta a much easier place to do business.

The language factor is also a key selling point when recruiting people.  Where else in Europe can you move to a Sunny Island and practice your trade in your own language.  There is over 8000 ex-patriates employed in different sectors, of which the majority are in the iGaming Industry whereas the other come from Finance, Software, Internet as well as manufacturing amongst others.  50% of them work in the iGaming Industry and the rest are split up some way or another.  The Interesting thing is that this strategically positioned Island is achieving to recruit new companies and highly qualified individuals from the various sectors and at a fast pace.  This summer we nearly had a halt in the rental market.  A market that we have had the major market share for at least 10 years and it hit us without us even seeing it coming.  Thanks to our efficient letting agents and management, they overcame the challenges and superseded their targets during these tough months.

Going back to the English Language. It is good to note that our property rental agreements as well our promises of sales (Konvenji) and for that matter any type of legal documents are also written in the British Language therefore ensuring a smoother process rather than having to translate every paper like you would have to do in other countries resulting in the occasionally finding out that you do not own the title of the sea front apartment on the Spanish coast.  Of course, if English is not your primary language, in Malta we have excellent Translation companies that may translate any legal documents pertaining to the sale or rental of your home in Malta.

The English language also allows ex-pat communities to freely network amongst themselves and improve their English.  For example, any official reception, party or otherwise you will find a pre-dominantly English-speaking group.

To conclude this article the point is that the English Speaking factor is a major salient point which we sometimes do take for granted and should promote more to those Ex-pats looking to relocate and eventually rent or invest in property in Malta.

If you’re looking for a family friendly location to buy or rent a property in Malta, it is important that you find a place that is not only safe for the kids but close to all the amenities especially if you do not plan on driving in Malta.

Malta has limited to practically no crime, however there are a couple of places that you should avoid during the late evening/early hours of the morning.  Paceville, located on the outskirts of St. Julian’s – bordering Swieqi and within walking distance to Pembroke is known for its late night clubbing.

The other area that may not be recommended as a family friendly area to purchase or rent a home is Bugibba.  Bugibba has been touted as the Benidorm of Malta and is a frequented holiday resort where there are several bars, restaurants and clubs.

Where to Live in Malta?

Sliema

Living in Sliema means living in the centre of it all. You’ll be close to shopping malls, high street shopping, cafes and restaurants, living by the sea, and there is a wide choice of properties available for sale and for rent along the promenade as well as inland.

Within the Town of Sliema there is also a number some apartment developments with internal security namely Tigne Point & Fort Cambridge.  School bus routes all pass through Sliema.

On the downside, it gets very busy and traffic is nearly always heavy. Parking can be a problem, even in the back streets.

Swieqi

Until recently, Swieqi was mostly semi-detached houses or large apartments. Recent development  means it now offers a wider variety of properties to choose from, in different shapes and sizes and highly finished.  A desirable suburban area, Swieqi is close to the shore and to the largest cinema complex in Malta, a bowling alley and several shops.  On the down side, it’s also close to Paceville (Malta’s clubbing hub), which can cause parking and noise problems in some areas.  As the school transport pass through Sliema it also passed through Swieqi as well as our next Town, notably Pembroke.

Pembroke

If your kids are students at Verdala International School or St. Catherines School, you may want to consider Pembroke as a place to live.  Quiet and suburban, Pembroke is located along the coast, all of which is still unspoiled. There’s plenty of countryside for walks and playing. There are also a relatively large number of schools and sports clubs in the locality.

Balzan

Balzan is a lovely place to look for a town house with a garden. You may also find lovely spacious apartments, maisonettes not to mention the odd farmhouse with pool. It’s quieter than neighbouring Birkirkara. Takethe little ones to San Anton Gardens nearby in Attard, or to the very child-friendly Ta’ Qali National Park, which is close by too. There are some lovely cafeterias as well as Supermarkets.  School Bus Routes also pass through Balzan.

San Gwann

Busy in general, but depending what you are looking for, you may find the San Gwann valley area appeasing and convenient.  It is a stone throw away to Sweiqi and St. Julian’s through the valley, a two minute drive to Mater Dei Hospital and University, easy for shopping, and with great transport links including School routes. It’s like being far enough away from the hustle and bustle but close enough to visit whenever you feel suitable.  In San Gwann there are a number of rental investment opportunities as well as some lovely semi-detached and detached villas and terraced houses that are somewhat reasonable.  One may also choose to go to The Village or Monterosa Gardens which have since become extensions of San Gwann.

Gharghur

Situated on top of a hill, Gharghur is a quiet town. It is a great place for nature walks as it is surrounded by valleys. It’s also relatively close to the coast and the largest Maltese water park.  Gharghur is better known for either houses of characters or large apartments.

The town is very intimate whereby most families know each other within the core area.  The Town has grown however and its extended areas which are closely touching Madliena one will find some beautiful homes overlooking Gharghur Valley namely Wied Id-Dies.

Zebbug

Not far from Buskett (Malta’s woodland area, ideal for picnics), Zebbug is another old village with some lovely old homes available. If you’re after old family town house, this is a good place to start looking. Think narrow streets, church bells ringing, and a large village square that gets busy on summer evenings.  It’s also close to Balzan.

Birzebbugia

Busy around the beach area but quiet in the back streets, Birzebbugia has a sleepy feel too it.  It can be a bit run down in places but, as it’s right on the coast, it could be a good alternative to other busier coastal towns. It’s quite close to Smart City. Birzebbugia has a number of restaurants and beaches, namely Pretty bay.  Birzebbugia also is known for its archeological site Ghar Dalam.

Marsascala

Also close to Smart City, Marsascala is another seaside town. It can get rather busy in the summer and is an ideal place to take a dip as well as to go out fishing. The area has a safe feeling with the people being very hospitable and trustworthy.  It is very close to Sant’ Antnin Family Park which is a leisure area for both locals and foreigners.  Together with Birzebbugia, both located in the south of Malta, attract several local and foreign families. There is a variety of properties for sale in Marsascala mainly in the form of apartments and terraced houses. Ta Monita is also a development that one should definitely look into when considering Marsascala.

Mdina

Not an obvious choice, but this could be a great place for kids. Small in size, enclosed and with no cars, Mdina is a great place for children to play outside, not to mention the sports fields in the moat surrounding thiswalled town.

Mdina might not be the best place to find a home, although there are a number of beautiful townhouses dated back hundreds of years located within the town.  Mdina is also very close to San Andrea and San Anton Schools both independent educational centres located in L-Imselliet, L/O l/o Zebbiegh.

We hope this article assists you in that it provides you a good idea of popular family friendly areas where one could live in Malta.  It is recommended that you visit the towns and also check out the available properties in Malta.

If you are exploring the idea of buying a second home or relocating abroad whilst investigating the islands as one of your prime candidates, we would like to make life easier for you and provide a few reasons why buying a home in Malta makes a lot of sense.

First off, in comparison to other main cities in Europe, property prices are still fairly reasonable. Now Malta is not London or Barcelona but it does have the perks of the healthy real estate market. Whereas most major countries are still recovering from the ravishing of their real estate market due to the global crisis, the Maltese islands were hardly affected. This was due to stringent banking practices and a solid foundation of homeownership in that over 90 per cent of Maltese prefer to own rather than rent their abode. According to a recent European Union report Malta was recorded as being one of the only European countries where property prices were increasing, and at a rate of 3 to 5 per cent. In major developments where foreigners are known to purchase property, this has been recorded as being even higher than that. The fact that the English language is widely spoken in Malta is something that many people take for granted when they are factoring the advantages of Malta.  If you were to head to another resort in Europe you are bound to find a language barrier, whereas in Malta and Gozo this is non-existent. All contracts in Malta and Gozo are written in English and may be translated in your own language.

Going back to the property market in Malta, if you purchase a property in one of the Special Designated Areas located in Malta or Gozo there is nothing restricting you from property for rent Malta. The rental yield in these areas can be anywhere between 4 to 7 per cent.  So, if you’re looking for a place in the sun which has the sea at your doorstep, the island lifestyle, Mediterranean cuisine, a hub for business that also has an attractive residency programme and a healthy real estate market, Malta is the right place for you.