Residents are known as Gozitans rather than Maltese - and are regarded as a rather strange bunch by the mainland residents of Malta itself - and vice-versa!.The property rental market on Gozo is strong, as the island is a magnet for both the Maltese and overseas visitors alike. Tourism in both Malta and Gozo has seen strong growth in the last 3-4 years from across Europe, Scandinavia and even the US - driven by a new network of low-cost air flights.
Off-plan developments exist, such as one at the popular seaside resort of Marshalforn. With most properties enjoying sea views, 85000 euros for a 2-bed apartment represents excellent value - but remember that you will have to pay the finishing costs.
A number of very select apartment developments are also taking place on Gozo.
Stunning views are the major feature of a unique development at the historic Fort Chambray which overlooks the main harbour - that links Gozo with Malta. The Fort provides an amazing backdrop and is over 300 years old. Prices here start from 315,000 euros for a 2 bed ground floor maisonette with pool!
A development at Tal General in San Lawrenz - has apartments that all face south and have views ‘to die for’ of one of the best shore locations on Gozo. Prices start from 200,000 euros for a 2 bedroom apartment..
For those looking for something out of the ordinary there are currently, a number of converted farmhouses and houses of character with pools for around 350 - 400,000 euros. These represent excellent value for those looking for traditional character in a modern setting.
Regular ferry and seaplane services link Gozo to the mainland.
Ray Woods from maltabuyproperty said: “Gozo remains an undiscovered haven for many potential investors and those looking for a retirement or holiday home. Its quiet rural location does not appeal to everyone, but for those who seek privacy and relaxation, it is well worth a visit.”
Finance is readily available on Malta and Gozo - subject to status and the banks are in good shape. Both HSBC and The Bank of Valletta offer competitive finance, negating the need for large capital transfers of sterling in the current climate.
English is taught as a joint first language from primary school - and this has influenced HSBC to open its Regional Call Centre and financial centre on Gozo.
The islands are members of the EU and are politically stable. The economy has been enjoying a sustainable level of growth that is reflected in property prices and is well-placed to withstand the world recession.
The proximity of Malta and Gozo to Italy, mainland Europe and the North African Coast makes them an ideal base. Sicily and Mount Etna are only an hour or so away by high speed ferry.
Low-cost carrier Ryanair has daily flights from Luton and Dublin. The airline is also launching flights from Edinburgh and Bristol in March.
Easyjet flies from Manchester and shortly - Newcastle.
Air Malta and the charter lines also fly from most major airports. BA flies from Gatwick.
The increased availability of lower cost flights has helped to increase demand for good quality property for rental purposes.