Market Spotlight: Houses of Character
19th August 2015
Colourful Gozo farmhouse, located in an idyllic, tranquil setting. The island is renowned for its countryside converted farmhousesThe high demand for homes of character due to their attractive features ensured for these properties an appreciating value on the market year after year, particularly as demand started outweighing supply and availability keeps grows shorter and shorter. Owning a house of character Houses of character are sold either converted or unconverted. The latter entails that the property still retains most, if not all, of its original feature in their original state and was most likely never or hardly ever restored or renovated. On the other hand, a converted house of character entails that restoration and renovation works were carried out on the property in order to turn it into its current state. This may include works on the stone structure, a change in layout and further development to the original structure.
Stunning traditional townhouse in Rabat, artfully renovated to incorporate classic and modern styleIt is important to know that due to their old age, these houses tend to need more maintenance and attention, particularly when passing from one owner to another, therefore such costs need to be factored in. Due to these houses being built to accommodate the needs of their time, certain modifications to suit a contemporary lifestyle may also need to be carried out. However, after taking the initiative of restoring the house to its former glory, the final result is highly rewarding and the homely atmosphere generated by a restored house of character is unlike any other. Houses of character as a home or an investment Many converted properties enjoy ample outside space and are fitted with a swimming pool and dining area ideal for entertainment, making for highly attractive homes. Historic palazzos, particularly those in Valletta are all the more being sought after to be turned into boutique style accommodation.
Majestic palazzos, particularly in Valletta, are being increasingly sought after to be turned into boutique style accommodationThe foreign market, especially tourists, on their search for authenticity and the discovery of the Maltese character want to stay in such buildings in order to experience the local lifestyle to the full. Many owners who own older-type townhouses also find that there is a demand for the rental of their older-type accommodation, both for the short and long term. All in all, there is hardly any reason whatsoever to reject the offer of traditional timeless charm combined with modern luxuries and contemporary style that befit today’s needs.
For more information about houses of character and property investment in Malta, kindly direct your request to firstname.lastname@example.org or visit our website.
Share this Article