Malta steps up a gear

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. In the recent Inward Foreign Investment report (World Investment Report 2007 – UNCTAD) Malta ranked 6th globally so it is understandable that there is a feeling on the island that when it comes to real estate it is now a case of ‘full steam ahead.

James Vassallo Senior Sales Manager for Tigné Point Marketing Ltd said, “Malta is unquestionably one of the most attractive second home destinations in the Mediterranean. Rich in history, blessed with a mild and temperate climate, this hospitable nation is now rivalling that of many emerging markets in terms of profitability.” Not bad for a country that is now a fully fledged European member.

“In essence, investors into Malta benefit on a number of fronts; the safety and security of a low crime rate, a Mediterranean lifestyle with an English twist and, due to its size and population, a secure property market, as real estate here continues to command a premium purely because of the limited availability and subsequent demand, especially from a very strong and established local market.”

“The island saw an unprecedented six-fold rise in property prices between 1987 and 2007 and with wealthier tourists and retirees now being attracted here for a multitude of reasons, property prices, especially within the top locations, are on the move again.”

As Malta continues its transition into the premier league of preferred destinations, it has been helped along considerably by the groundbreaking Tigné Point development overlooking Valletta, the historical capital of Malta. With a decidedly contemporary feel in contrast to the timeless architecture of Valletta, this landmark 21st century lifestyle development is encouraging a new breed of investor and ultimately creating a very cosmopolitan community.

Tigné Point is not just a residential complex; it is a fully self-sustained, waterfront, brown-field development combining residential, commercial and leisure facilities within a 30-acre car-free zone.

T10 is the latest residential phase to come to the market within Tigné Point. Released in July this year, over 65% has already been snapped up by local and foreign buyers leaving just a handful of seafront homes left for sale. Top local interior designer Pippa Toledo has been instrumental in using quality local materials to bring an unmistakably luxurious feel to these peninsular apartments affording far-reaching views over Valletta and the sea.

Prices at T10 start from £280,000 for a three bedroom apartment.

For more information, visit t10.tignepoint.com