Figures show property sales in 2009 on a par with 2008

In the latest phase of properties at tigne point, Malta's flag ship development. Only 10 homes remain

Despite the very difficult international business climate, the upper segment of the island of Malta's property sector has fared relatively well over the past 18 months and though sales may not have been as brisk as the boom-times of the previous years the island's robust local market and appeal to those looking to relocate to the Mediterranean have enabled sales to continue steadily.

According to data from Malta's National Statistics Office, sales in 2009 were on a par with 2008 with the vast majority of these sales purchased by local buyers. Overseas purchasers, who can benefit from income tax rates of as little as 15% on income received in Malta, have also contributed to the equation especially when it comes to higher end properties such as seafront properties within the new mixed use developments. With incentives for businesses and ever expanding air routes also drawing interest from companies around the world, Malta aims to withstand the worst of the current economic crisis with stout resilience.

At Midi's Tigne Point, a flagship development situated on the waterfront on the north east cost of the island, it is interesting to note that of the 250 luxury apartments already sold, some 60% were to locals and 40% to foreign buyers.

“We feel that we have a unique product in an unrivalled location; set on a stunning headland at the entrance to the natural harbour across the water from the capital, Valetta and the magnificent Manoel Island, it is quite impossible to replicate”, says James Vassallo, Senior Manager Sales and Marketing at Tigne Point “Because of this and the very limited stock available for sale we have not felt the need to reduce prices and sales have continued throughout the period. Our buyers are discerning locals and foreigners, often business leaders or world travellers, who are looking for quality, luxury and the convenience of living within a secure and managed mixed-use environment.”

Certainly location is paramount when choosing a property and the 450 million euro, 44 hectare regeneration project, is without a doubt in a prestigious and highly sought after region of Malta.

“It is the prime spot that has drawn buyers; the spectacular views across Marsamxett harbour and the Mediterranean proving irresistible.  Tigne Point is easily accessible being only 20 minutes from the International Airport. Owners can reach the capital Valetta by a short drive or boat ride. Situated at the Eastern tip of Sliema, a much sought after commercial and residential hub, Tigne Point combines the very latest in exterior and interior design layouts in contemporary style whilst juxtaposing with the 18th century Fort Tigne which has been meticulously restored by the developers.

In it's entirely, the project comprises luxury apartments and penthouses plus the benefits of leisure and entertainment facilities including a spectacular foreshore pool, a health and leisure centre and a cosmopolitan central piazza lined with cafes and boutiques. There are excellent restaurants and facilities for al fresco ‘dining in style' overlooking the floodlit capital.

There is also a brand new retail complex headed by the UK's much loved Debenhams department store. Coupled with welcoming gardens, shaded walkways and pretty cafes and bars dotted around the car free centre of the development, this is the place for those who recognise style. The backdrop to life on the promontory is the beautiful, historic, World Heritage site of Valetta across the bay.”

“Malta has one of Europe's highest per-capita rates of home ownership and this has ensured that its property market has proved less volatile than many other Mediterranean resort destinations that are almost exclusively dependent on overseas holiday or investment purchasers”

For the business person Malta offers easy access to the Eastern and Western commercial worlds and its unique ambience steeped in history, its friendly people and laid back Mediterranean lifestyle continue to attract overseas buyers.

Tigne Point. A secure and gated environment in landscaped gardens surround on three sides by the sea. The homes, state of the art offices, retail complex ( a 60 store shopping Mecca) plus sports and leisure facilities are all within a 30 acre car free environment.

The remaining homes comprise  -

Two bedroom apartments starting from £360,000
Open plan penthouses, each with private infinity swimming pool from £1,333,000.
 

TIGNE POINT
www.tignepoint.com
+356 2065 5510
info@tignepoint.com

MIDI PLC
450 million euro, 44 hectare development is Malta's most ambitious property regeneration project.
www.midimalta.com