Malta is Latest Destination to Embrace Fractional Ownership Real Estate

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Fractional Development Express has launched the first fractional ownership property on the Mediterranean island of Malta, in conjunction with local agents ReMax.

The company is selling 1/13th shares in a two-bedroom apartment at the T10 block in Tigné Point for €58,000.

The company decided on this particular property after a research visit to the island. "Tigné Point stood out. You are in the heart of Sliema. You've got the pjazza, the shopping centre... in a sense, you have your own little holiday spot and facilities right on your doorstep," said co-founder Richard Lowther.

"Fractional ownership is a comparatively new concept, becoming more popular particularly within the current property market, where people are more interested in getting value from the lifestyle aspect of a property rather than from appreciation," he added.

The 148-square-metre apartment is on the first floor of the T10 block and comes with a sea view. "We chose it because when you are in the apartment, you know you are in Malta. We wanted a property with the Maltese ambience and, with views of the Valletta skyline and Marsamxett harbour, I think we have achieved that," said Lowther.

"My expectations are that foreigners would want to come to Malta and use the property as a holiday home every year. It's a superb development; the location is perfect for what we have in mind. We really do believe Tigné Point will be a success because the developers have done a great job there. It will be fantastic when the remaining construction is completed," he added.

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