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BRITISH HOME BUYERS STILL TOP IN SPAIN
MALTA: NEW LOWER THRESHOLD FOR RESIDENCY
The Maltese government has lowered the minimum
thresholds for the purchase of immovable property and rental property by foreigners in Malta. “The introduction of a new residency scheme is very advantageous to foreign nationals considering taking up residency in Malta,” says Nick Bilocca of Frank Salt estate agency (
franksalt.com.me). The new residence scheme, referred to as Global Residence Programme, will allow people
who buy or rent a property in Malta and direct their income to Malta to benefi t from a residence permit (and thus income tax at 15 per cent).
In order to qualify for residency, under the new Global Residence Programme, a non-EU foreigner will need to buy a property of €220,000 or over (if the property is in the South of Malta or in Gozo) or of a minimum value of €275,000 for properties in Central and Northern Malta.
Foreign nationals who are
interested in renting a property, can also do so and they are eligible for Residency given that the annual rental value is of €9,600 (or €800 monthly) in Malta and €8,750 (or €730 monthly) in Gozo or the South of Malta.
The new Residence Scheme for Foreigners replaces the High Net Worth Individuals Scheme for non-EU foreigners that has a threshold of €400,000. The apartment above is in Vittoriosa, priced at €398,000 through Frank Salt.
Solvia, the real estate arm of Spanish Banco
Sabadell has reported the sale of 5,946 Spanish homes in the two months from March. Solvia has been campaigning
hard to draw overseas buyers to Spain and their “Impossible Not to Buy” campaign this spring off ered discounts of up to 40 per cent. You can read how a British
couple bought through Solvia on page 60; and overall, Solvia report that UK buyers account for 28 per cent of their international sales, followed by Russians at 15 per cent. The regions of Valencia and
NEW “FREE LISTINGS” FROM
HOLIDAYLETTINGS.CO.UK
One of the leading rentals portals, Holidaylettings.
co.uk have recently launched an alternative listing option for home owners.
It’s more fl exible, perfect for new market entrants and for those just looking to fi ll a few weeks here and there. The “free listing” costs nothing upfront but a 3 per cent
(excluding VAT) processing fee is payable by owners for each booking taken through the site. The “annual listing” is still available at £329 (excluding VAT)
for 12 months advertising, and with both listings, your property also appears on 13 of TripAdvisor’s international websites free of charge. “If you’re new to holiday lets and unsure of how much business you’ll attract or are just looking to fi ll a few weeks here and there, the free listing is perfect because there’s no upfront cost,” says Kate Stinchcombe-Gillies of
holidaylettings.co.uk. “Annual listings are best suited to those fi lling long and busy seasons where a known marketing cost may be more prudent. “Both listings come with hassle-free tools for managing
bookings and payments so that you can off er safe online payments for guests. So whatever your needs and requirements, we now have an option for everyone.”
Murcia accounted for over 50 per cent of sales. Solvia’s fi gures on buyer nationality concur with statistics from The College of Property Registrars released for the fi rst quarter of 2013 for the whole of Spain. The College’s data shows that 8,013 foreigners bought homes in Spain between January and March, representing 8.63 per cent of all the transactions carried out in the period. Their report pointed out that this rate exceeds the 8.12 per cent of 2012 and is not that far off the “high” of the 8.97 per cent of 2006 – the peak of the boom. By nationality, UK citizens
still top the list, purchasing 1,194 homes in the fi rst quarter of the year, which represents 14.9 per cent of all the foreign purchases. Following were Russians at 9 per cent, the French (8.7 per cent), then the Belgians (7.41 per cent).
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