Malta Property News

A traditional favourite with British holidaymakers, the small island of Malta is hoping to attract the luxury property investor. Once home to mass-market developments, Malta has learnt from its mistakes in the past and is now concentrating on high-end developments.

“The credit crunch has been felt far less in Malta because of the rigorous regulatory regimes that Malta has and also because the financial banking sector is not as sophisticated as in other countries. In a sense, whilst Malta may not be totally spared the impact, at least we have not been as badly hit as others”, says Benjamin Muscat, CEO at Midi plc.

Malta is an island 60 miles South of Sicily. This is a country steeped in history and very much loved by the British. It has been a stepping stone and sea base for the powers that shaped the history of the Mediterranean, the Phoenicians, Carthaginians, Arabs, the Knights of St John, the French and then, from 1800, the British.

Buying overseas property has become one of the defining characteristics of consumer behaviour over the last 30 years. Despite the current economic difficulties, there are still purchasers out there.

One of Europe’s southernmost countries, Malta has decisively stepped up a gear as a property hotspot since its EU accession. Up from a steady 8% capital appreciation per annum to 15% per annum for the last two years, Malta now ranks in the top 20 global countries most likely to sustain economic growth over the medium/long term.

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.

Malta is a big hit with those from the UK looking to retire overseas! One of the overriding benefits is its comprehensive health service, which is currently ranked 5th in the world by the WHO (World Health Organization) against the UK which can only manage a lowly 18th place!

Malta is fast becoming the cosmopolitan capital of the Mediterranean. Its new 450 million Euros regeneration programme by Midi plc at Tigne Point and Manoel Island are being credited with a new found international integration, which ultimately is raising Malta’s profile and making Malta one of the most sought after ‘chic’ lifestyle destinations in the European arena.

Most people will have heard of Malta, but how many will have heard of Gozo, its smaller sister island.

As Coronation Street moves back to Weatherfield after a week of broadcasting from the sunny island of Malta, property website worldpropertymalta.com is predicting a surge of interest in this beautiful sun-soaked island in the middle of the Mediterranean.