Euro attracts property investors to Malta
maltamedia.com, 20 July 2007
Overseas property investors will look to Malta following the announcement that it is set to adopt the euro currency as from the 1st January 2008.
Currency specialist HiFX said that it has already witnessed a doubling in the number of Britons looking into buying property in Malta, as well as Cyrpus which will also adopt the euro on the same day, according to the United Kingdom’s (UK) Hot Property News.
"We predict the property market on both islands to continue to grow due thanks to a number of reasons. British purchasers like the legal system in Cyprus as it is easy to understand-being based on the English one," noted HiFX marketing director Mark Bodega, adding that "Malta boasts far lower taxation than the UK and there are no annual council or property taxes and inheritance tax was abolished in 1992."