GOZO, MALTA - Ajay Ahuja

GOZO, SANNAT (MALTA)

Population

0.395 million persons

PopulationGrowth

0.740%

Land Area

320 sq km

Currency & exchange rate

1 Maltese lira (LM) = 100 cents(~ 1.559 GBP)

GDP-PPPMethod

5,380.0 millions of US dollars

GDP Growth

-1.730%

GDP Per Head

13,636.0 Thousands of US Dollars Per Person

Financial

Interest Rate

Inflation Rate

3.75%

2.2%

National Bank

Central Bank of Malta

Political

Malta’s presidency is largely a ceremonial post, whilst executive power is held by the Cabinet. Although the country has enjoyed close links with the UK for 200 years, in recent years, close ties with North Africa, notably Libya, had contributed towards political division over the question of joining the EU.Nationalist Party Leader, Dr Eddie Fenech Adami, was sworn in as Prime Minister in April 2003, following the March 8 referendum which was won by the "Yes to Europe" vote and the general elections, which were held on 12 April. Dr Fenech Adami retired as Prime Minister on 22 March 2004 and was replaced by Dr Lawrence Gonzi, who won the backing of his party by a wide majority

Malta shares close trade relations with the EU, which accounts for 46% of Malta's exports and 67% of Malta's total imports (Central Bank of Malta Quarterly Review - March 2003).

Social Security

Yes

Languages

Maltese, English

Customaries

The usual European courtesies are expected, but the visitor should also bear in mind the tremendous importance of Roman Catholicism; if visiting a church, for instance, modest dress covering the shoulders and legs will be expected. Smoking is prohibited on public transport and in some public buildings, including cinemas

Ethnic Make-up

Maltese

Tax

Income Tax

Capital Gains Tax

Residents are taxed differently depending on whether they are married or not.Non-residents are taxed on the same level regardless of whether they are married or not.

Taxable income		Tax on lower amount	Rate on excess
Exceeding (Lm)	Not exceeding (Lm)	(Lm)	%
0	300	0	0
300	1,300	0	20
1,300	3,300	200	30
3,300	-	800	35

Taxable capital gains are included with other earnings that are taxed at the rates set forth in rates.

Description

With a small agricultural sector, the tourism and marine support services are two key growth sectors. In addition, although Malta is an island, the fishing sector is relatively insignificant. Approximately 25% of Malta’s foreign exchange earnings come through tourism. The industrial sector consists of textiles, clothing, shoes, plastics, printing and electronics.The major trading partners are the UK, USA, Italy, France and the Benelux countries. Malta has traditionally enjoyed low unemployment, low inflation and consistent growth rates. The economy is however slowing and Malta's large budget deficits and high public debt to GDP ratio are major concerns.

The government is implementing privatisation, pension reform and tax collection programs designed to alleviate macroeconomic imbalances.

Numerous tourist developments are underway in Malta, aimed at revitalizing a sector that has been stagnant for a number of years. Particular emphasis is being placed upon attracting the more affluent traveller.

Investor Profile:

Cash & Equity InvestorPension Investor

Holiday Investor

Retirement Investor

Downshifter Investor

Business Investor

Category:

Silver

Population:

Total

British

28,000

~400

Climate:

Hours of Sunshine Per Day in Summer

Days of Rain Per Year

January

July

AverageWater Temp.

16C

25C

20C

Proximity to:

Airport

Beach

Nearest City

After reaching Malta by plane, Gozo could be reached in two ways: either by Ferry or by Helicopter. From the Malta International Airport, there is a Helicopter service operating between the Airport and the Gozo Heliport and vice-versa

The crystal clear waters of Marsalforn and Xlendi bays are too beautiful to miss

Ta Cenc

Restaurants and bars:

You will find many good-priced and expensive restaurants in Gozo. Just pick any restaurant, table by the sea, dining next to the lovely blue water, with the air heavy with the smell of sea spray. Many Specialise in Fresh fish, fillets steaks, veal, chicken and pasta dishes.You will find mainly family orientated restaurants and drinking establishments. If you want vibrant nightlife and shopping centres then Gozo is not going to be right for you.

Sports and leisure facilities:

Diving is one of the most popular activities on the island and attracts divers from around the world. Scuba diving is also enjoyed, Swimming and leisurely walks amongst beautiful scenery.

Transport:

Public Transport

Roads

There are some regular bus services from the Capital, Victoria, to all towns and villages in Gozo.Taxis are available Victoria and Mgarr to reach other villages

There are some car, bike and motorbike hire companies available to use the good roads.

Crime rate:

Very low to non-existent

Main types of employment

Being an island, the fishing industry has been the main employer for centuries. Farming is also a key employer.

Future plans:

To maintain its tranquillity and beauty whilst encouraging investment.

Yield range

12 – 17%

Type of property

Entry Price

Rent-Peak

Rent-Off Peak

Average Annual Yield

2 bed apartment

£31,000

£480

£400

17%

3 bed apartment

£48,000

£600

15%

3 bed townhouse

£90,000

£1100

14.6%

Detached

£100,000

£1000

12%

Demand for letting

Peak

Off peak

High

Finance and leisure scores:

Total (out of 10)

Financial (out of 5)

Leisure (out of 5)

Flights scheduled from:

London Airports

Typical cost of flights:

Peak

Off Peak

200 – 400 GBP

130 – 350 GBP

Operators:

British Airways, Air Malta, Alitalia

Description:

Gozo lies about 5 km FROM the North West of Malta. It therefore enjoys warm summers and mild winters and this makes it the ideal holiday destination at any time of the year. Its motto, in Latin is 'Fertilis ab undis caput effero', meaning 'A fruitful land rising its head from the sea'.Yields are very good. Its possible to do very well if you gear up the investment and benefit from the low borrowing rate. It makes a good alternative holiday home as opposed to the normal Spain or Cyprus off-plans and re-sales that we get rammed down our throats.

Its not that easy to get to but you can get cheap helicopter flights and a ferry runs every other hour. For those looking for a quiet retreat, not looking to spend too much money and want to make an immediate healthy return then Gozo would be an obvious choice.

Hot Website:

www.gozo.gov.mt

Estate Agents:

Name

Address

Tel

Web

Christy's Gozo Properties

(+356) 21 55 90 84

guidegozo.com/agenzija/ghalvin@yahoo.com

Dhalia Real Estate

http://www.dhalia.com/