E&V SG Private Residence Autumn Edition by Engel & Völkers Malta

Private Residences â&#x20AC;˘ Malta Autumn 2014

and the comprehensive range of services we offer - but also by our international network, which opens up almost limitless possibilities for us and therefore for you.

Benjamin Tabone Grech Chief Operating Officer Engel & Völkers Sara Grech

Dear Reader! We are pleased to present to you today our first edition of ‘Private Residences - Malta’. The purpose of this publication is to make up for the recent increase in demand of high-quality real estate on our islands. Whether you are looking for a new home, a second home or a holiday home, whether you aspire to live in highly vibrant villages or more quiet towns; Engel & Völkers Sara Grech will take care of all your real estate needs right from the start. This is confirmed not only by the excellent reputation that we have established around the world over the past three decades, thanks to our outstanding consulting skills

Property area

There are certain elements that distinguish us from our competitors; for example, our unique shop concept where our presence stretches across 550 shops in over 38 different countries giving us a further reach and optimal service from anywhere around the globe. Our success relies on our professional real estate agents. Currently we have over 80 agents with almost half of them originating from foreign countries. Every E&V SG agent gets professional in-house training from local and foreign real estate experts. This is an ongoing process, as we believe that agents should develop themselves constantly in today’s dynamic real estate market.

in a delicate manner. Through our marketing we promote our brand and our agents, as we believe that in this business credibility and experience is what matters for our clients who are about to embark on an exciting time and experience, whether buying or leasing for personal or business reasons. I invite you to read through the ‘Private Residences’ as there are numerous reasons why this is the right publication to end your search. Should you fail to find it in this edition, I encourage you to have a look at our website: www.evsaragrech.com or visit us in one of our property lounges. In either case, our experienced real estate agents are very much looking forward to assisting you!

Kind regards, Another crucial aspect of our business is our tailor-made marketing. In this business every case is unique and therefore we treat each property in our portfolio with utter focus and

Living space

Bedrooms

Benjamin Tabone Grech Chief Operating Officer

Bathrooms

Engel & Völkers Shops in Malta

St. Paul’s Bay

St. Julian’s

St. Paul’s Bay

Portomaso

Sliema Sliema Msida Msida

Attard

Fgura

Msida

St. Paul’s Bay

The Emporium, Rue D´ Argens, Msida | MSD 1362 Phone +356 2347 0000 Hours 08:00 - 20:00 (daily) 09:00 - 13:00 (Saturdays)

Mosta Road St. Paul’s Bay Phone +356 2347 0220 Hours 09:00 - 18:00 (daily) 09:00 - 13:00 (Saturdays)

Portomaso

Attard

St Julians Terrace, St Julian’s Phone +356 2347 0240 Hours 09:00 - 18:00 (daily) 09:00 - 13:00 (Saturdays)

Triq iż-Żagħfran Ħ’Attard Phone +356 2347 0250 Hours 09:00 - 18:00 (daily) 09:00 - 13:00 (Saturdays)

Sliema

Fgura

Tower Road Sliema Phone +356 2347 0210 Hours 09:00 - 18:00 (daily) 09:00 - 13:00 (Weekends)

Triq Haz- Zabbar Il-Fgura Phone +356 2347 0230 Hours 09:00 - 18:00 (daily) 09:00 - 13:00 (Saturdays)

www.evsaragrech.com 2

Contents

Country Introduction

Market Overview

Residential Properties

6–11

Commercial Properties

12–17

Rental Properties

18–21

E&V SG Recruitment

22–23

Country Introduction - Malta

alta, officially the Republic of Malta, a small island nation of 316km², is one of the smallest countries in the European Continent. A southern European Island country comprising an archipelago of 7 islands in the Mediterranean sea. It lies 80km south of Sicily and 284 km east of Tunisia. The Capital city Valletta was unaimously named European Captial of Culture for 2018. The capital city is looking forward to celebrating its title during the year 2018 with an aim to establishing a legacy for the following years. Malta is attractive to the foreign investor. Our stable democracy inspires confidence in the investor. 1 2

We enjoy a politically stable parliamentary republic with a free press and active political parties. Malta is well regarded as a safe and secure place to do business. Malta enjoys an 'A' investment grade rating by Standard's and Poor's and A3 by Moody's. Both agencies rate Malta's outlook as stable. Moody's upgraded the foreign and local currency government bond ratings from A2 to A1 following the introduction of the Euro currency on January 1, 2008.1 The Maltese economy has grown in recent years with GDP at constant prices growing at an average of over 4.3% per annum during the years 2007 – 2010 (estimates), except for 2009 when the economy contracted. The annual rate of inflation was 1.5%

http://www.eubusiness.com/europe/malta/invest PWC – Doing Business in Malta, (04.2012) page 8

in 2010. Unemployment in February 2011 stood at 4.5%. Gainfully employed persons include a relatively high percentage in the public sector (27.6% in March 2011). The government maintains an ongoing review of human-resources development in the public sector, aimed at improving systems and efficiency in public service. The Employment and Training Corporation (ETC) provides specialised training in various employment sectors in addition to its primary function as a recruitment agency. The Maltese economy is based on the free enterprise system. While a major part of the economy is privately controlled, public utilities are mostly provided through government-controlled entities.2

Market Overview

eal estate in Malta is defined by a property consisting of land or buildings. This holds true with Malta’s real estate market. During the year of 2013, Maltese property prices fell by just 0.6% (-2.42% inflation-adjusted), based on figures released by the Central Bank of Malta CBM)3. On a quarterly basis, property prices rose by 1.54% (3.28% inflationadjusted) in Q1 2013.

From 2000 to 2007, the Maltese property market enjoyed strong growth, with the overall house price index rising by 78.9% (53.4% inflation-adjusted). Over the same period: • Terraced houses saw the largest price increase of 105.3% • Apartment prices rose by 83.3% • Maisonettes prices rose by 81.4% • Townhouses & villas prices rose by 71.9%

By property type: • Terraced houses prices rose by 4.1% • Apartments prices dropped by 2.4% • Maisonettes prices rose by 2.3% • Townhouses & villas prices rose by 4.9%

The local property market, all in all, has held its ground in a volatile situation. In the first quarter of 2014, the all-property price index increased by 0.8% compared with the corresponding quarter of 20134. Property prices have become more dynamic over the past 4 years, and

there is clearly a shortage of quality investment properties on offer. Additional stimulus is being created through lower financing costs combined with an enduring high level of available monetary liquidity in the context of the uncertainty surrounding alternative investment products. EU citizens are free to buy more than one property whilst non EU citizens can only buy mulitiple properties if the property is situated in a Special Designated Area, such as Tigne Point, Portomaso, Pender Gardens, Madliena Village, Ta’ Monita Fort Chambray in Gozo and more.

3 www.globalpropertyguide.com 4

NSO (June 2014) page 1 – Diagram in Appendix

Central · Mosta Expertly converted house of character located in a very quiet area. E&V ID W-01ZIGB · Price € 360,000 approx. 35 sqm

approx. 125 sqm

Engel & Völkers Sara Grech · Phone +356 7975 9051 Malta@engelvoelkers.com

East · San Gwann Lovely penthouse furnished and finished to very high specifications. E&V ID W-01W6RB · Price € 420,000 approx. 105 sqm

approx. 110 sqm

Engel & Völkers Sara Grech · Phone +356 7975 9022 Malta@engelvoelkers.com

Central · Naxxar Exclusive spacious apartment in a peaceful area. E&V ID W-01H1TI · Price € 192,000 approx. 67 sqm

approx. 118 sqm

Engel & Völkers Sara Grech · Phone +356 7975 9002 Malta@engelvoelkers.com

East · Pieta Penthouse enjoying fantastic views E&V ID W-01VKM3 · Price € 350,000 approx. 30 sqm

approx. 160 sqm

Engel & Völkers Sara Grech · Phone +356 7975 9034 Malta@engelvoelkers.com

2 1 East · Sliema Beautiful townhouse in the heart of Sliema. E&V ID W-01KHKJ · Price € 1,700,000 approx. 114 sqm

approx. 286 sqm

2 East · Sliema Duplex penthouse enjoying panoramic views. E&V ID W-01F6X3 · Price € 1,400,000 4

approx. 180 sqm

Engel & Völkers Sara Grech · Phone +356 7975 9034 Malta@engelvoelkers.com

approx. 150 sqm

2 1 South · Qrendi Enchanting palazzo in a traditional locality. E&V ID W-01CWRO · Price € 1,160,000 approx. 560 sqm

approx. 640 sqm

2 Central · Iklin Centrally located villa with pool and garden. E&V ID W-01JAVV · Price € 4,700,000 2

approx. 5,080 sqm

Engel & Völkers Sara Grech · Phone +356 7975 9034 Malta@engelvoelkers.com

approx. 420 sqm

2 1 East · Gzira Office located in a highly central area. E&V ID W-020JXS · Price € 5,000 monthly approx. -- sqm

approx. 355 sqm

2 East · St. Julian's High standard and modernly furnished office. E&V ID W-020HXS · Price € 8,300 monthly 2

approx. 7 sqm