My name is Lisa and welcome to my mini site about the lovely Tigne Point in Malta.
I have been working in the world of residential lettings for some time in Malta and I must admit that I think Tigne Point is a super place to live with a great mix of quiet, activity, exclusivity, fun and security. For me, the development has it all.
If you have spent any time in Malta, you will almost certainly have heard that there are some amazing Tigne Point apartments for rent. They stand on a par (at worst) with the development in Portomaso and compare very favourably to Fort Cambridge and Pendergardens, making it a location with caché.
Not only is it a wonderful development for living, but it is great for entertaining and shopping. The photograph to the right is of the rear of the The Chophouse, an excellent restaurant that sits between the apartments and the sea, making the most of the famed view of the Valletta skyline. This is certainly a wonderful spot for a romantic dinner for two!
As you can see, there is a footpath that runs between the cliffs and the development as well. This makes it a fun spot for a stroll for both residents and visitors. It is actually possible to climb over the little ridge and then on down to the sea. It isn’t Malta’s best spot for a swim, but it is nice enough.
The whole area benefits from being just slightly set aside – because of it’s position on a spit of land – but very close to much of the action in Malta. Sliema and the shopping and cafe area is only a few minutes stroll away with the Sliema ferries (and therefore boat access to Valletta) only a few more minutes walk. The Fortina hotel – and it’s wealth of restaurants – is next door to the The Point1.
As you may know, The Point is Malta’s largest shopping mall. It is a multistory indoors heaven for shoppers and contains some of the nicest clothes shops in the country. There are also a couple of cafe’s located in and around The Point. The outside area is called Pjazza Tigne (see the photograph to the left) and is a lovely quiet spot for a chat with friends and a lazy morning. There are a number of Tigne Point apartments that overlook the square. This wouldn’t be for everyone I’m sure, but for those that like to people watch and see the world go by, it would be a very nice spot.
As you can see from the picture, some of the apartments are directly above the square and cafe’s while others are back a little. In other words, there is something for everyone.
The development itself has been built in phases by Midi Malta plc2. They are a property development firm whose main projects are Tigne Point and Manoel Island, which is also where the company is based. The protected land (it is a UNESCO World Heritage site) of Manoel Island presents some challenges to develop, but they are building a reputation for care and attention.
Because the development has been underway in phases for around a decade, and there were years of planning and permits to deal with before that, the entire Point area is better known by the Maltese as “Midi”.
There are no two ways about it, Tigne Point has been designed with luxury in mind. Each apartment is individually designed and has been finished to a very high standard. Midi are targeting the top end of the Maltese property market and have done so well. The entire development has a well-earned reputation for luxury, though in the marketing materials they prefer “lifestyle”. This means that at sale, the apartments are priced between 200,000 euros and 2 million euros.
In my opinion, these prices are easily justified.
Obviously, this pricing is passed onto the rental market. It is quite rare to see a Tigne Point rental advert for less than 1,000 euros per month. Many of the bigger apartments with superior views can command over 3,000 euros per month. For the area and quality that isn’t a lot of money, but it excludes a good deal of the local population.
Understandably, these apartments for rent do not spend much time on the market. Tigne Point apartments tend to “rent themselves” and so within a matter of a few days they have come and gone. Potential tenants need to move fast.
The only ones that might last a few weeks on the market, awaiting a new tenant, are the very top end. These are typically, three or four bedrooms, with a great view, a nice terrace and perhaps a pool or a jacuzzi. Even by the exceptional standards of the development, they are luxurious. Needless to say, these properties rent for very high numbers each month and so there is a very small group of potential clients (in Europe, not just Malta).
Hopefully it goes without saying that such properties come with air conditioning, secure underground car parking, lift access and on and on. Every detail you can think of has been thought of and included… When around and about in Malta, you never hear people talk about their Tigne Point apartment and say, “If only it had…” because they simply have everything! The one thing that is harder to share is the legendary Valletta skyline. Not all of the properties have that and so there are some people that wish they could “upgrade”. The view of Valletta is amazing from Sliema and is best from a number of the early developments.
This is a development that has attracted a lot of professional landlords over the years. Property prices have generally increased throughout Malta over the past decade and the luxurious areas have responded as well. This, combined with low interest rates (since Malta has joined the EU and euro, they have been very low) has made investment in apartments like these a profitable proposition.
As such, there is a wide mix of owners. Some own and live in their apartments. Others own but only spend a few weeks per year in it. Some use it as their legal residence (Malta has some very friendly tax rules). Others own as an investment and rent their apartments out in the long-let market.
Conveniently enough for me, there is no one real estate agency that has a lock on Tigne apartments. This is partly because of the fierce competition between agents and partly because there are not enough available rentals to sustain a firm. To a certain extent, most of the agents have access to most of the rentals, which means that the firm or person you choose to deal with ought to relate to who you like and feel comfortable with.
We agents earn a commission when we rent a property and in theory it should be the same amount for everyone. In most respects, there ought to be very little difference between the biggest agencies on the island and the smallest. In which case, feeling at ease and trusting the person that you work to rent a property with ought to be the number one priority.
If there is one thing that possibly holds back the largest Maltese real estate agencies, it is that they are too successful. When talking to other agents, you quickly learn that the staff in the main firms are all trying to do sixty three things at once. While it is a marvel to behold, it is very easy to be overlooked by them. After all, providing excellent customer service isn’t easy when you are trying to do it for a dozen people simultaneously. If you want to receive the special attention that you deserve, then a more private service – such as mine – might be appropriate for you.
I hope that I have convinced you that this exclusive Sliema development might be right for you – or at least worth investigating. If you would like to see the current available properties to rent, please get in touch and I will be pleased to discuss your requirements.