Why Buy Property in Malta?
According to the Central Bank of Malta, residential property prices increased at an average rate of 6.3% in 2015.6%
Terrace houses had the highest price increase of 17.86% during 2016.18%
Development permits for new dwelling units rose by 34.4% in 2015 to 3,947.34%
In 2016, the EU expects Malta's economy to expand by 3.9%, the third highest in the EU.4%
The reasons for investing in Malta are many. Though our island is one of the smallest countries in Europe, Malta possesses sound legislation, a highly skilled workforce, solid infrastructure, excellent international links, a favourable taxation system as well as numerous Government grants and exemptions. Malta is fast becoming the go-to country for setting up a business in the Mediterranean.
Malta is economically and politically very stable, and so it is a highly attractive prospect for anyone wishing to invest in or set up business. The number of foreign investors and residents is growing year on year, thanks in no small part to the island’s strong property market. Upward trends in property prices were partly thanks to Government incentives to support the ever-growing demand for properties, most notably the new Individual Investor Programme. First-time buyers in Malta may also benefit from a stamp duty exemption (until 31st December 2016), saving up to €5000 on a property purchase.
Malta’s workforce is dedicated and multilingual, with the majority of persons able to speak Maltese and English, and with a large number also able to speak Italian, French, German or Spanish. A high concentration of education and training facilities also enables Malta to be able to offer additional support for whatever industry wishes to invest on the island.
Thanks to its EU status and its links to major European and world airports, maritime ports as well as its geographical location in the heart of Mediterranean trading routes, Malta is able to benefit all investors, including those seeking to do business with Africa, the Middle East and Asia. Malta is rapidly becoming a strategic corridor linking this side of the world to Europe, and in particular, the financial services, maritime and manufacturing industries are becoming more and more attractive investments on our island. In recent years more modern legislation has also encouraged the growth of the technology industry, including electronics, IT, pharmaceuticals and gaming.