Malta Widely Considered as Viable Luxury Second Home Location by Brits

According to luxury real estate consultancy firm JamesEdition, Malta has been ranked the seventh most affordable place for a luxury second home for Brits.

Malta placed above the United Arab Emirates, Canada and Montenegro, with Ireland occupying the top spot. The publication priced a luxury waterfront three-bedroom property at €635,000 while the same property was costed at €520,000, a study by Proven Partners has revealed.

The countries included in the survey were ranked as such based on Google searches related to second and holiday homes, with Malta being considered attractive due to short flight times and low air fares from the UK.

Criteria included the average price of a tasting menu at a top-rated fine dining restaurant and the average price for premium car hire per day.

Despite the positive placement for Malta, one cannot ignore the dissonance against the recent news that young adults on average wage cannot afford to secure a down payment on a property.

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