Published on 05 April 2007 at 12:32 pm
Filed in Property News for Malta » Can the Property Market in Malta Survive the Challenges Ahead?
The fortunes of Malta, its economy, tourism industry and property market are all intrinsically linked and each has faced many challenges to date. It’s fair to say that Malta has done well in meeting the majority of the challenges it has faced in the past head on - however, as recent events have shown there are more issues ahead if the nation is to continue to develop and prosper from real estate in particular.
The questions is - can the property market in Malta survive the challenges ahead? In this article we examine the situation now, the future potential issues and the actions that are being taken to create a sustainable property based economy.
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The legal system in Malta and Gozo is based on English common law and the property buying process in Malta is relatively straightforward as a result.
Permission has to be sought by certain groups of non-residents for the purchase of freehold real estate on either island, but a well regulated and documented purchase process makes the entire experience pretty painless for everyone.
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Malta is an incredibly popular Mediterranean island destination and property investment opportunities abound in Malta’s real estate sector, particularly for those seeking to target the retirement and tourism markets.
The long term profitability of property assets held in Malta is almost guaranteed because of two key facts. Firstly you have the country’s geographic status as an island! Simply put, the amount of property available in Malta is restricted because of the physical size and infrastructure limits of the island. Secondly Malta is universally attractive to holiday makers, retirees and those looking for a place in the sun, so both the demand for property for sale and rent in Malta actually rise annually.
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The small Mediterranean island of Malta has long been a property investor’s paradise, but certain market and geographic conditions exist currently that make this haven an even more tempting choice for those seeking to capitalise on any investment made in international property over the medium to long term.
Malta’s economy, the country’s strategic position, the fact that it was a former British colony and is today considering the prospects of petroleum exploration are all unique features that contribute in one way shape or form to its intense attraction for property investors, second home hunters and those hoping to make their place in the sun pay with buy to let property investment.
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