Malta is home to 35 foreign Ultra-High-Net-Worth (UHNW) individuals and two foreign billionaires, with each UHNW individual worth some $160 million, according to the findings of Wealth-X and Malta Sotheby’s International Realty.
The report published this week reveals that 77 per cent of foreigners, who have acquired a residency permit in Malta and who are UHNW individuals, are self-made.
One of the billionaires who reside in Malta is Irish-born Denis O’Brien. He was listed among the World’s Top 200 Billionaires in 2015. The other billionaire remains a mystery. Mr O'Brien owns Communicorp, a media holding company which operates across Europe, but particularly in Ireland.
UHNW individuals are people with a net worth of US$30 million or more (after accounting for shares in public and private companies, residential and passion investments such as art, planes and real estate).
France, Germany and the US are the top countries for foreign UHNW individual investing in property in Malta.
The average listed price for homes over $1 million in Malta is $2.5 million, while the average price per square foot in that price range is $678. The average age of UNHW individuals resident in Malta is 59.
Malta’s citizenship programme an ‘opportunity gateway’ for UNHW individuals
According to the report’s findings, Malta is deemed to offer a good long-term investment opportunity. In the past year, market volatility in certain nations, particularly China, has led buyers to seek homes in economically and politically stable locations as a hedge against market instability at home and Malta offers the desired stability in both regards. In view of this scenario, “Malta’s citizenship programme enhances the island’s position as an attractive location for investment, especially as the EU is the most significant region of citizenship application”.
The report states that global citizenship is becoming an increasingly popular tool for the world’s ultra wealthy and Malta’s citizenship programme enables foreign nationals to purchase one property anywhere across the island, although more than one property situated within Special Designated Areas (SDAs) can be bought. Most of the island’s luxury lifestyle developments, it says, are located in prime, highly sought-after locations in the island’s commerce, leisure and activity hubs.
Wealth-X is the global authority on wealth intelligence, providing sales, marketing, strategy and compliance solutions to clients in the financial services, luxury and education sectors. Its award-winning research and ‘thought leadership’ are regularly cited by the world's media such as CNBC, the Financial Times, Thomson Reuters and the BBC.
The report provides an insight into the UHNW residential real-estate opportunities in Sydney and Vancouver for buyers seeking safe investment diversification; and Malta, the Bahamas and Sao Paulo, which may appeal to ultra wealthy buyers who are seeking citizenship or residency through property investment.