Malta Is ‘Best Kept Secret’ For Property Investors

by Carla Johnson, Investors Offshore.com

12 October 2005

An article in the September issue of the Irish financial magazine, The Investor, has described Malta as one of the "best kept secrets" for property investors, with "unparalleled growth" continuing to drive up real estate prices thanks to a strong rental market and demand for office space and residential dwellings.

"With 10 months of sunshine each year, and only three hours flight from Dublin, Malta represents a highly attractive and relatively under-discovered opportunity for Irish investors keen to invest in overseas property," The Investor stated.

According to the article, on average, property prices have increased by 14% during 2005.

However, the article pointed out that the lack of a double taxation treaty between Ireland and Malta is being seen as a hindrance to property investors in Ireland and puts Malta at a disadvantage compared to other countries which hold double tax agreements with Ireland, allowing investors from one country to avoid taxation in the other.

Negotiations are underway between the Irish and Maltese governments regarding a bilateral tax agreement, although there is little indication of when such an arrangement will go into force.

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