DURBAN – The latest data on Eurozone property shows that Malta is the top performer in the region and it is also the top offshore property investment destination for South Africans.
It is also the top choice for Eurozone residency and citizenship according to Lance Cohen, a Director with Seeff Atlantic Seaboard who markets Malta property.
He says further that the first successful citizenship programs have been completed and it is now the first proven European destination where you can actually get citizenship, rather than just residency as is still the case with Portugal for example. With English be the widely used business language, there are also no language requirements, adding to the attraction, he says.
There are essentially two aspects to the Malta promotion in SA, says Cohen. The first, is to invest in property without residency or citizenship, purely for investment or second home purposes. Malta property market offers excellent prospects and you can find property from just R3m-R4m, far less than what you would pay for a holiday apartment on the Atlantic Seaboard.
Owning property in Malta is highly sought after with foreigners from the UK and Europe already heavily invested there with fast rising demand from SA and other Middle Eastern countries. There are a number of different areas and options to choose from and attending the new round of Malta seminars is ideal to get first-hand insight and information about these.
The Malta property market has performed well over the last few years. It has proven to be the most successful country in terms of investment and is currently the fastest growing property market in the world. Malta recently recorded the largest surplus and highest decrease in debt among the 28 EU states. It is a stable economy which continues to experience robust growth.
Property values continue to appreciate, says Cohen. Aside from own use, Malta also boasts a busy rental market with high demand for both holiday and residential rentals. It is popular for tourists from all over the world, especially the UK and Europe and there is a large expat base, all of which supports the buoyant rental market.
The ease of access, close proximity to mainland Europe, the UK and USA are all part of the attraction of Malta. It boasts excellent infrastructure and a superb lifestyle and climate. Malta ranks as one of the best passports to have in the world which allows full access to the Eurozone and USA, hence it is experiencing the highest demand for citizenship in the Eurozone.
In addition to providing information about property investment opportunities, Cohen says experts from Malta will also provide information on residency and citizenship. The cost of residency starts at EUR30,000 plus an investment of EUR150,000 into government bonds which you have to hold for five years as well as a property investment for upwards of EUR320,000. Citizenship costs upwards of EUR 650,000 to around EUR1 million) for a family of five.
To meet the high demand for Malta, the information sessions in association with our Malta partners will cover real estate and investment opportunities, taxation and residence and citizenship, says Cohen.
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