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Maltese Property Market History @ EMCS Forum

The following speech was given by Mr. Frank Salt today 4th June 2008 at the EMCS Property Forum, Hilton, St. Julian's.


I will start by giving you a brief summary of the history of the Maltese property market.

We shall start in the 1960s. Malta at that time was very dependent on the income generated by the British forces, who were at that time living and working in Malta. When the Maltese Government were told that the British bases were soon to leave, a different way of earning money had to be found.

One of the ideas that came forward was the introduction of a permanent residency scheme, that took advantage of the many British that were leaving the old colonies in Africa. This scheme was very successful, as the climate in Malta was very acceptable and the taxation being offered of sixpence in the pound was very attractive.Those were the days of taking foreign clients out in coaches, and each salesperson selling over 25 properties a month.

Then there came a change in Government...

A st…