The beautiful island of Malta has long been a favourite refuge for professionals, politicians and performers alike, thanks to its warm Mediterranean climate, idyllic beaches and secluded location. Although it’s an extremely popular holiday destination, Malta also has a highly competitive international property market, with traditional housing particularly in demand. The country’s laid-back lifestyle, stable economy and favourable tax conditions only serve to make investments here an even more attractive prospect, and the presence of six Engel & Völkers shops on the island confirms Malta’s place as a prime second-home destination.
Although the area’s real estate market has seen sustained growth over the past few years, there are still plenty of areas in Malta that have managed to remain largely untouched by the influx of tourism. These locations have become fiercely sought after among investors hoping to capitalise on the high demand and relatively low supply of luxury properties built in traditional Maltese style, with easy access to the island’s many world-class amenities.
Some Maltese residents have already invested in second and even third homes around the country, renting them out to tourists as a primary source of income. However, almost a third of all property buyers still come from other countries, with convenient air travel promoting a strong Western European presence. Recent years have also seen a rapid surge in interest from both the USA and the Middle East.
In order to respond to these favourable market conditions, Engel & Völkers have recently opened several new offices in the region. Located in areas like Msida, St. Paul’s Bay and Sliema, Engel & Völkers Malta offers brokerage of high-end residential property, commercial real estate and premium yachts, bringing together the company’s three business areas. As an island nation, Malta has a very well established nautical tradition. Sheltered ports on a Mediterranean coastline have helped to secure Malta’s position as a top sailing destination, with many yacht owners using the country as a summer base for their sport.
The Licence Partners and Managing Directors of Engel & Völkers Malta, Sara Grech and Raymond Bugeja, both have several years of experience working in property brokerage and finance. Sara Grech’s father opened the very first real estate office on Malta in 1964 and with more than 25 years’ real estate experience behind her, she’s understandably excited for this new chapter in the area’s real estate history: ‘It is a pleasure for me to be able to offer the benefits of Engel & Völkers’ network and service on Malta. The international demand for prestigious property and professional consultancy is very high indeed here. And an international network of buyers and sellers is absolutely key to success.’
If you’re considering a second home on Malta, Engel & Vӧlkers are ideally positioned to help you find your dream property. All three outlets of the business are represented on the island, with residential, commercial and yachting shops proving the company’s commitment to this unique and spectacular island. Combining the international expertise of the company with Sara Grech’s intimate knowledge of the island market guarantees you’ll get the best of both worlds when it comes to advice on making that all-important investment. For more information, visit our E&V Malta website.