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Overseas Property News
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Property in Malta to reach new heights
Country: Malta and Gozo
16 February 2009
Investment in Malta property seems like an increasingly attractive proposition, buoyed by a growing tourism levels and an ever-increasing number of low-budget airlines.
EasyJet has announced that it will be increasing its routes from April by including direct flights from Newcastle twice a week.
Ryanair has also announced two new twice weekly routes to Malta from Edinburgh and Bristol. Flights from Edinburgh start on 31 March and run every Tuesday and Saturday. Flights from Bristol will operate on Wednesdays and Sundays and will start on 5 July.
Scandinavian Airlines (SAS) is also launching a nonstop route from Stockholm-Arlanda airport to Malta starting in April 2009.
James Vassallo senior sales manager at Malta-based ersate agent Tigne Point says: "The increased air traffic is certainly good for the island especially in these trying times. Malta is strategically placed between the west and east and the growing importance of north Africa. It appeals to businesses looking to relocate to the Med and over the years business travel has constantly grown".
An additional advantage to owmning property in Malta is the fact that the country offers average earners a genuine opportunity to cut their tax bill.
Malta charges no capital gains tax on property sales after three years of ownership, while residents are able to take advantage of The Maltese Residence Scheme, which charges a flat income tax rate of 15%, subject to a minimum tax liability of £3,000.
See Also: Malta
Some properties in Malta and Gozo
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Price: £24,147
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Type: Apartment
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Bedrooms: 1
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What would have been a 1 bedroom studio maisonette, ideal for an office, tattoo parlor or hair salon. Comprising of 2 rooms, bathroom, kitchenette and a small back yard.
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Price: £47,489
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Type: House
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Bedrooms: 2
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Unconverted house of character with a 44 foot facade, 76sqm living space and roof. Consisting of 5 rooms and airspace. Features include xorok original wooden beams, arched ceilings and much more. Option to purchase adjacent house too.
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Price: £51,513
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Type: Apartment
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Bedrooms: 1
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Furnished penthouse, open plan kitchen/ living area with front terrace, one double bedroom and shower, possible of developing into 2 bedroom apartment.
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Price: £54,330
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Type: Apartment
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Bedrooms: 2
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2nd Floor apartment being sold in shell form. Accomodation comprises of large Living/Dining, kitchen, 2 bedrooms, 1 bathroom, washroom and airspace. Finished common parts, facade and lift included in the price.
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View details | Enquire further
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Price: £60,367
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Type: Apartment
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Bedrooms: 1
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First time buyers look no further! Spacious 1 bedroom apartment just off the seafront enjoying lots of natural light, separate kitchen, study, living, dining and main bathroom.
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Price: £60,367
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Type: House
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Bedrooms: 1
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A well finished habitable 2 storey townhouse just a stone throw away from Spinola Bay.
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Price: £61,574
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Type: Apartment
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Bedrooms: 1
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A ground floor maisonette in a very quiet street close to all
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Price: £63,587
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Type: Apartment
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Bedrooms: 2
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Newly finished 1st floor apartment. Accomodation comprises of a large living/dining, kitchen, 2 bedrooms, 1 bathroom, washroom and airspace. Finished common parts, facade and lift included in the price
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View details | Enquire further
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Price: £67,611
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Type: Apartment
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Bedrooms: 1
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A great opportunity to purchase a bachelor pad or rental investment very close to university of Malta. This property comprises a large open plan, split kitchen, living and dining area., with walkout onto spacious terrace.
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Price: £68,416
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Type: Apartment
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Bedrooms: 1
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A highly finished and furnished studio apartment facing a green area ideal as a rental investment or just as a holiday residence.
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View details | Enquire further
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