Real Estate Investor Magazine South Africa October 2013 | Page 63
OFFSHORE
EURO 35 000. The table below illustrates the
property prices in Malta.
Before the global economic crisis, the Maltese
property market experienced a progressive price
growth. However, in recent years the various
markets have suffered differently with the
low to middle-end market experiencing drops
in prices while the top-end properties have
remained relatively stable.
Benef icial to potential investors is that
Malta waives property taxes on the resale
of properties after three years. Purchasing
property is subject to a 5% stamp duty and
the country has identified significant niche
market developments geared towards foreign
direct investment. Typically developed around
historic sites, the government allows foreigners
to own more than one apartment within these
complexes and specifically designated areas.
Outside these zones, foreigners may only
purchase one property.
From a South Afric an point of view, it makes
sense to investors looking to benefit from more
than just a financial point of view. The GRP
opens the door to more than just investing in
property in Malta, allowing investors to gain
freedom to move more easily within the EU.
Before you invest, do your homework, make
sure you qualify and that Malta is the right
place for you, after all you have to spend six
months a year there!
Rent Per Month
Range in Euros
Apartment (1 bedroom) in City Centre
300.00 - 400.00
Apartment (1 bedroom) outside City Centre
400.00 - 579.00
Surprisingly enough, though there is
a well-known breed of dog called the
Maltese, Malta’s national dog is actually the Pharaoh hound, with a sleek
tan coat and a profile resembling
ancient Egyptian statues.
2
Film-lovers may recall the epic battle
scenes set in Rome’s Coliseum in Russell Crowe’s Gladiator. What they may
not know is that those scenes were
actually filmed in a replica built in
Fort Ricasoli, Malta.
3
The Megalithic Temples in Malta are,
in fact, older than Egypt’s pyramids
and England’s Stonehenge.
4
Many people with an interest in
ancient myths and legends believe
Malta to be part of the Lost City of
Atlantis.
5
A predominantly Roman Catholic
country, Malta has over 360 churches
– that’s roughly one for every 1,000
residents.
450.00 - 800.00
Apartment (3 bedrooms) outside City Centre
1
200.00 - 350.00
Apartment (3 bedrooms) in City Centre
FUN FACTS ABOUT MALTA
Buy Apartment Price
Price per Square Meter to Buy Apartment in City Centre
2,250.00 - 3,500.00
Price per Square Meter to Buy Apartment outside City Centre
1,100.00 - 1,600.00
CAPE TOWN
Ground floor, Liesbeek House, River Lane, Mowbray
PO Box 23644, Claremont, 7735
Tel: +27 21 680 5272 | Fax: +27 86 670 6490
Official South African marketing agent for
LEPTOS ESTATES | www.LeptosEstates.com
Contact: Jenny Ellinas | +27 83 448 8734 | [email protected] | www.cypriotrealty.com