5 Reasons to Buy a Real-Estate Property in Malta
In recent years, Malta became one of the most interesting places for real estate investors. According to reports, the prices of real estate properties in the area have increased by 10.83% in the first quarter of 2019. With the booming economic activity in the real-estate sector, a lot of investors consider getting a property for sale in Malta. Here are five great reasons why you should consider buying a property in this island country.
1. Properties Are Accessible
One of the most attractive aspects of getting a property in Malta is the fact that a lot of properties are available in the area. Whether you have a multi-million budget to spend or just enough to start your own family, a wide variety of properties can be seen in the country. You can find available real-estate properties by searching for real estate listings in the comfort of your room online.
2. Lower Cost Of Living
Another thing that you might find attractive in Malta is the fact that its cost of living is way lower compared to other European countries. Expect that imported items would be more expensive as Malta is an island. However, if that’s not a problem, you can find yourself saving more while living in Malta. For example, the rent in Malta will be lower by 75% or more compared to the rent expenses when you live in NYC or San Francisco.
3. Real-Estate Market Is Growing
In the past years, the prices of real estate properties in Malta have been risings steadily. This rise in market value is not exclusive to any specific kind of infrastructure. Prices of apartments, terrace houses, maisonettes, townhouses, villas, and other structures all saw a price increase. This boost was because of the fast-growing economy of the country.
4. Potential Income from Tourism
Tourism is one of Malta’s biggest assets. Some of the best works in architecture can be found in this place. One such structure is the Valletta, Malta’s capital. Two harbors serve as a navigation for Valletta: the Grand Harbour and Marsamxett Harbor. If you want to see some medieval structures, the hilltop town of Mdina will not disappoint. With the potential of tourism, you can turn this as an opportunity for additional income. If you have a vacation home at the island, opening it up for rentals during the peak months would bring a decent amount of passive income.
5. Peace and Hospitality
Citizens of Malta are known for their kindest and hospitality. Since it’s an island country, almost all the people know each other and will not hesitate to help new people in town. And unlike other countries and tourist destinations, the Maltese doesn’t take advantage of tourist ignorance in the country. You would also enjoy the change in traffic. Because most of the places on this island are short-distance, the traffic is mostly light. It’s a significant change, especially if you’re from a place where a traffic jam is a norm.