Despite its diminutive size, Malta is something of a boating Mecca of the Med - and its property market has not been slow to tap the portside potential offered by marina and waterfront developments.
This small island 93 km from Sicily and 300km from the North African Coast, plays host to a range of both sail and power driven ocean going contests. These include the 600 mile Rolex Middle Sea Race that attracted over 70 entries in 2008 and one of the spectacular Powerboat P1 races.
The Royal Malta Yacht Club has been playing a major role in events like these since 1921 and it is rumoured that there have been organised water born competitions taking place on the island since 1835.
A selection of developments that not only offer berthing and maintenance facilities for modern matelots - but also such land locked essentials as up market shopping malls and health and fitness salons - together with the requisite private or communal pool, are attracting buyers from across the World.
The island also offers good facilities for boat rental and yacht charters for aspiring but slightly less well heeled sailors.
Developments currently luring the ocean going community like modern day mermaids include Portomaso in St Julian’s, Ta’Xbiex Marina adjoining the fortress capital of Valletta and St Angelo’s Mansions - similarly situated on an old portside marina - with views to die for of the main Maltese harbour.
At Portomaso, apartments are available in sizes ranging from 70 – 450 square metres (average size 250 square metres), with one to four bedrooms and spacious private terraces, some with their own individual swimming pools. Breath taking sea views are enhanced by a tranquil tree-lined promenade that extends right around the marina, providing a total water frontage of 1.6km.
Extensive underground parking is provided for residents and their visitors, making the whole marina side of Portomaso a quiet, car-free zone. The development includes quality bars, restaurants and shops; a luxurious five-star Hilton International hotel with its own superbly equipped fitness and leisure centre and an adjacent business and convention centre. Apartment owners also enjoy the use of an adjacent beach club.
A wealth of up market shops, restaurants and nightspots can be found in the surrounding district of St. Julian’s which is well known as the centre of Maltese nightlife.
The latest design and engineering techniques have been used to make this one of Europe’s first zero-emission marinas, with the added advantages and sheltered berthing in even the stormiest weather.
Prices range from €230,000 for a 1 bed apartment to €800,000 for a penthouse.
Blue Harbour in Ta’Xbiex is a purpose built yacht marina development offering a choice of apartments ranging from a generous 220 to 700 sqm., all enjoying wide frontages and large terraces. There are duplex apartments at the lower levels, spacious 2 and 3 bed roomed flats and penthouses, luxurious sky villas with the options of sunken pools and gardens. A one car space is included.
Blue Harbour will offer a boutique hotel, an exclusive health spa, a five star restaurant and extensive commercial space.
The Msida Yacht Marina offers world-class service with over 700 berths in a well sheltered creek yet easily accessible to open water. All apartments also enjoy lovely views of the marina and the historical fortifications of Valletta/Floriana.
The spaciousness of the apartments and the facilities on offer are reflected in prices of €536,000 for a 3 bed apartment to €1.5m for a penthouse.
St. Angelo Mansions complex forms part of a unique waterfront regeneration project of international importance. With the backdrop of the magnificent architectural gem of Fort St. Angelo and other historic buildings on the waterfront which date back to the period when the Knights occupied Malta, the project is designed to include, amongst other developments, an international Yacht Marina, a luxury hotel, a Health Spa, Casino, restaurants and various cultural outlets.
Each block of ten apartments is served with its own private entrance and lift. Parking facilities for residents are available in the car park situated on the ground floor.
Each apartment has an approximate area of 140 square metres. Comprising an entrance hall, a sitting/dining room, kitchen, 3 bedrooms, 2 bathrooms (1 ensuite with the master bedroom) and front balcony.
All apartments enjoy unobstructed sea and mainland views..
Here a finished apartment will cost from €326,000.
While foreign buyers are definitely smaller in number Ray Woods, a spokesman for UK based www.maltabuyproperty.co.uk said that increasingly the property market in Malta was proving to be the ‘triumph of quality over quantity’ with the island’s unique position in the Med a major attraction for those of a nautical persuasion and with money to invest.
Issued by Ray Woods of www.maltabuyproperty.co.uk (In association with Frank Salt Real Estate of Malta). Tel: 00 44 7967 686230
The next Rolex Middlesea Race begins on the 17th October 2009.
Property jpegs available on request.
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