Malta may be a new bolt-hole for rich South Africans
With an attractive visa and residency programme, wealthy South Africans can get their own piece of the Mediterranean pie
Malta has seen its pockets swell with multi-millionaires who have taken advantage of a visa and residency programme. It has also attracted affluent South Africans. According to The Wealth Report‚ compiled by global property consultancy Knight Frank‚ the small Mediterranean island country has seen a 12% increase in its "ultra-wealthy population". The report‚ which will officially be launched in SA next week‚ explained that the rich are "benefiting from its investor visa and residency programme and strong growth in the local IT‚ financial services and real estate sectors". Luxury market specialist for Seeff Properties‚ Lance Cohen‚ said the country is fast becoming a new favourite location as a second home for well-heeled South Africans. Properties start from as low as R3m — a bargain considering the price of a holiday home on the South African coast. "I bought a property a few months ago, and for my family‚ it has become the perfect getaway. Although you have everything that you need...
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