The heart of the Mediterranean
A Brief Overview
Malta is the most southerly country in Europe, a small, sunny Mediterranean Island measuring just 27 km by 14.5 km. A warm and welcoming population, low crime rate, and up to 300 days of sunshine each year are just a few of the reasons that make Malta a perfect location to reside. The dual island nation gained its independence from the UK in 1964, although a colonial influence remains in Malta to this day, including English as the second language, the judicial system, and some stunning architecture. Malta’s close neighbour Italy has also proven influential over the years, resulting in the evolution of a unique blend of culture and cuisine. Malta encompasses a classic Mediterranean aesthetic, comprising several cosmopolitan towns, picturesque local villages, rocky beaches, olive groves, and vineyards.
The smaller, sister island of Gozo lies to the northwest of Malta and offers an even quieter retreat, providing the perfect getaway to enjoy a slower, more relaxed pace of life. Due to the recent growth in the popularity of Gozo, Gozo has, over the past year or so, experienced, positive economic growth.
Although listed as the 10th-smallest country in the world, Malta’s economy is classified as advanced by the International Monetary Fund. The dual island nation joined the EU in 2004 and became part of the eurozone monetary union in 2008.
Malta is an attractive destination for tourists, with its warm climate, numerous recreational areas, and architectural and historical monuments, including three UNESCO World Heritage Sites: the Hypogeum, Valletta, and seven megalithic temples that are some of the oldest free-standing structures in the world. Malta’s tourism infrastructure has developed dramatically to accommodate up to 1.6 million visitors each year.
Country Real Estate
The Maltese real estate market has in recent years been one of Europe’s success stories, experiencing five years of consecutive growth prior to the global pandemic, both in the number of properties purchased and overall volume.
Malta is a nation of homeowners and Maltese people like to invest in property. This cultural propensity, together with the arrival of many foreigners, particularly from the affluent gaming and finance sectors, has created demand for property from locals and foreign individuals alike. While the property market appears to be stabilizing, there is a constant demand for high quality property. Sliema, St. Julian’s, and Valetta are popular destinations for local and foreign investors.
The majority of real estate investors choose apartment living, and many modern developments have sprung up over the past five years to satisfy the demand for this type of accommodation. For those who prefer something with authentic Maltese character, elegant townhouses can be found in Malta’s towns and villages, together with classic countryside villas.
The sought-after areas of Sliema and St. Julians are well served with restaurants and entertainment facilities. Their seafronts are dominated by apartment blocks. Properties with sea views are always in demand, while traditional Maltese townhouses are found in the streets set back from the seafront.
The capital, Valetta, is renowned as being Malta’s commercial district, with very little residential property available. This is slowly changing but due to its UNESCO World Heritage Site status, development in the city is very restricted. The city is filled with buildings that epitomize Malta, but renovation of these old properties can be challenging, and high quality residential property is in short supply.
Malta’s residence process offers investors the option to invest in real estate, thus ensuring the recoverability of those funds after the required five-year holding period.