https://timesofmalta.com/article/mercury-towers-penthouse-listed-22-million.1096239
OK, es ist eine „Villa im Himmel“. Das Anwesen verfügt über raumhohe Fenster, Balkone, ein Heimkino, ein Fitnessstudio, zwei Büros, eine Bibliothek, einen Serverraum und Fußbodenheizung.
„Der Verkäufer hat sich die Zeit genommen, die Ausstattung der Wohnung persönlich auszuwählen.“
"Die Küche beispielsweise ist mit „italienischem Marmorboden und Holz höchster Qualität“ ausgestattet.
Ich verstehe auch, dass das Staatsbürgerschaftsprogramm ein Anreiz ist. Aber ich glaube nicht, dass es dafür notwendig ist, so viel Geld für ein Eigenheim auszugeben – oder doch?
Wie schön das Anwesen selbst auch sein mag, lautet meiner Meinung nach nicht „Lage, Lage, Lage“ das Mantra im Immobiliengeschäft? Und ist Malta wirklich ein Standort, der 22 Millionen Euro wert ist? Meiner Meinung nach nicht. Aber ich würde wirklich gerne andere Meinungen hören.
What would induce someone to spend €22 million on a property in Malta?
byu/trumpeting_in_corrid inmalta
Von trumpeting_in_corrid
21 Comments
Literally only money-laundering. Nowhere, and I mean NOWHERE in Malta any property is worth 22 millions.
Yeah no matter how beautiful the place is once you go out of it you’re smack in the middle of Paceville. The value should to down drastically haha 😂 Will be super pissed paying 22M to go out and see students vomiting and making a ruckus everywhere. I value peace and quiet too much.
Money laundering or launderingn of money are kinda the first 2 things that come to my mind. But could also be money laundering…
Speculation.
Nothing more. Nothing less
Worldwide, we‘d be much better off without property and housing speculation.
They buy it as an investment, hoping the price goes up, in the meantime renting it out to companies fo events or whatever
Theyre aiming for mega rich american investors… this is pocket change for them.
Expensive airBnB
As a real estate professional with 12 years of experience on the continent and 12 in Malta, I do not understand how most of the properties are priced as they are.
Okay, the Mercury Tower was designed by Zaha Hadid and everyone in real estate knows her name and designs so it is more like a brand you are paying for and the unobstructed view. Also, it will be fully finished and equipped.
But back to the Maltese standard properties. They are built and renovated below standards, using the wrong materials and not following the building rules. So, for me, even seeing a 300k apartment that needs finishing or further renovation is mind-blowing. An average sqm price for a shell apartment can be anywhere between 3k and 6k.
I have renovated a peoperty last year where the purchase price was 5k but after the renovation it was 10k, with a tremendous amount of profit.
Unique properties that are smartly designed using the highest-quality materials are rare. But Malta is not the type of country where I would personally spend my money on any kind of property.
I love Malta. But if I had 22 million to drop on a house, I wouldn’t pick Malta.
It’s money laundering pure and simple. The cut to clean money can be as high as 40 – 60%. So if a 22 million cash transfer is somehow approved by some bank for a transfer to the vendor to finance this acquisition, you might have a more realistic valuation of 10 – 15 million for the 800 square metre property in a future transfer.
Now I would not pay this money either but many would, especially if the lot is split into 5 decent sized units with front terraces overlooking an excellent view. It’s true the street below is clubs and pretty raucous but once you put your car in the garage you are in a pretty insulated environment and the investment going into this area will gain a momentum of its own. I have some very cautious optimism that with so much money tied up here, we will finally be seeing some improvements in the next ten years. Politicians can’t be relied upon but when big business investment is involved , it’s a different matter
People need to realize that tax avoidance is different to tax evading.
If this apartment can be marked as a deductable it is essentially “free”.
This is not money laundering, it is simply who is richer affords to keep getting richer.
Most people here are thinking in real life terms. But property at that price is all about status.
You’re paying 22 million so that you can point to the massive tower visible from a distance and say I have property there. It’s purely a status symbol.
Money laundering is a possibility though.
The people shouting money laundering really have no clue what they are saying. Yes, real estate is inherently risky when it comes to AML, but not more than any other country.
The fact that Mercury Towers lies in SDA (Special Designated Area) means that Non EU buyers with no links to the country have full rights to purchase said property. This status is given by governments (The Lands Ministry). The same for Portomaso and a few other areas in Malta which have bene granted SDA status over the last decades. Without SDA status only Maltese and EU nationals would be able to freely buy property in Malta.
This means that the market for the real estate is now open to super rich Arabs, Americans, Russian etc who have spare millions in their bank account who would rather invest it in brick and mortar.
Yes though I do believe that the property is over valued
I don’t believe is the real price even money launderer have their limits
Money laundering .. like the rest of the economy ..
Maybe they need the launder the proceeds the cocaine whores made from issuing 18 thousand id cards to Egyptians and other nationalities.
There is no accounting for taste. The home theatre and white piano? Ugh!
Mental illness!
22mil will get you 275,000 nights in a 80eur Airbnb, the average person lives for 26,481 nights. Who wants to spend 22 million to clean their own sheets and apartment?
Speculation… Most multi million apts in new york are bought just for speculation purposes, with the aim of reselling in the future for a profit
The question isnt “is it worth it”, the question is “will someone pay that much for it”.
And most likely yes, someone will pay 22m for it.
There is a market for anything and everything. Low or super expensive.
Afterall, people pay 50 bucks for some bathwater and 100s of dollars for used underwear.
Why is it crazy to think someone would spend 22m on a house/apartment if its the most luxerous in the area?
From what I’ve understood, Portelli has a mountain of debt with many individuals. BOV are chasing for their payments which he cannot do. He’s using his name as an anchor to try and obtain more funding, he recently asked for a further 20 million.
22 million for a property in Malta is beyond ridiculous. But he’s trying to sell the only one of this kind in Malta and trying to recoup something until it goes tits up.