Developments
Since Malta has already established a reputation as a premiere travel destination, it is should not be surprising that there are reasons to invest in the country. The wealth of cultural and historical attractions and the exception weather all year round, are great incentives to start with. Add to this the fact that the country’s second language is English and you may begin to see the appeal to many foreign investors. Those who visit Malta may decide to return with the intention of making the island their home or as a regular vacation spot. As a result, the rental property market in Malta is experiencing increases since many properties are sold as rental investments. It also helps that Malta is known as a “tax haven,” meaning that there are no rates, no municipal taxes, no federal taxes and no provincial taxes. With the country’s decision to join the European Union in 2004, the property investment market has improved further. It is now easier to buy property in Malta; this has made the island a main attraction for more property investors.