Real Estate Investor Magazine South Africa December - January 2014 | Page 68

MALTA

BY ALEX BURGER

Living In Malta

The gateway to Europe, North Africa & Middle East

M

alta has been the subject of many
books and f ilms and, due to its
natural advantages, Mediterranean
climate, idyllic scenery and location, it has
become both a tourist destination and a true
international business location. Once a central
point for shipping and a strategic military/
navy base in the Mediterranean, it is also now
serviced by many of the major airlines. Malta
has graduated to the “big league” as a result of
the efforts of its government to rapidly grow its
financial services, ICT and other technology
related industries. The government has actively
encouraged foreign nationals to settle in Malta
for business purposes, fiscal advantages and
lifestyle benefits.
The Republic of Malta (“Malta”) was founded
in 1964 following independence from Great
Britain. It comprises three islands Malta,
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Gozo and Comino. Malta joined the EU in
2004 and the Eurozone in 2008. Valletta was
originally built by the order of the Knights
of St John’s and today it houses the business
heart of Malta. Valletta and the Neolythic
temples are now UNESCO World Heritage
sites. The temples are the oldest standing in
the world and predate Stonehenge and the
Egyptian Pyramids. The Cathedral of St
John’s in Valetta and the Ports of St Elmo
and St Angelo were built in the time of the
Knights of Malta.
St Julien’s and Silems on the west coast have
attracted contemporary residential properties
while medieval cities such as Mdina and
Rabat, rural villages and fishing ports retain
the Island’s unique charm. Properties range
from contemporar y high-rise apartments
to villas and even palaces. Foreigners may

December January 2013/4 SA Real Estate Investor

purchase property and they are normally
restricted to owning one property. However
recently there have been a number of 5-star
developments with luxury apartments, which
are exceptions to this rule. The purchase prices
are apparently usually half those of similar
properties in the UK. The rental market is
varied and ranges from affordable to high-end
homes and even rural estates.
For residents and visitors, modern Malta
has a vibrant social life characterised by many
nightclubs, bars and jazz clubs. The worldrenowned tennor Joseph Calleja is Maltese as
is Edward de Bono, physician, consultant and
author of the book “Lateral Thinking”. Malta
is very famous for its gold and silver filigree
jewelry and hand blown glass. The Maltese are
very hospitable people and it’s a wonderfully
safe place to live and visit.
www.reimag.co.za