4 ms·
The entire article is about how these people don't even plan on living in Malta. They are buying access to Europe, not Malta.
by dublinben 12y ago
The entire article is about how these people don't even plan on living in Malta. They are buying access to Europe, not Malta.
- michaelochurch 12y agoThat makes it even worse. It'll drive up property prices and make the locals, relative to cost of living, a lot poorer. There's so much filthy global money in Manhattan and California real estate right now that it's mind-boggling. And as Malta is a tiny island nation, and real estate exhibits extreme price inelasticity, this sort of thing can happen quickly. Real estate hyperinflation is a plague that must be fought with any means necessary.
- go1979 12y agoCanadian real estate prices are a case in point. Crazy/greedy real estate brokers egg buyers on to take ever larger mortgages at current low rates. Buying a starter home should not take 30 years to pay off for the average buyer.
- deleted 12y ago[deleted]
- wavefunction 12y agocutting throats figuratively (and literally where apropos) is the order of the day for all human beings who wish to maintain their dignity
- meric 12y agoYour comment is unpopular with other real estate investors on this board.
- saryant 12y agoHis comment doesn't make a ton of sense given that you can buy property in Manhattan and California (and the rest of the country...) without holding American citizenship. Moreover, Malta is clearly selling this as a means of entry to the entire EU. Few will likely choose to relocate to Valletta.
- meric 12y agoProperty in Manhattan is a lot more expensive, relative to median incomes, than in countries where property ownership is limited to locals, like in Indonesia. The yield is at least double. I suppose the thing with Malta is anyone who was from the EU can already go there.
- jane_is_here 12y agoGood way for Greece to make some money.
- wavefunction 12y agobut Greece and Malta are two different actors :O
- desdiv 12y agoI think what jane_is_here was trying to say is this: Malta is essentially selling EU-wide* permanent residency permits and is making mad money out of it. Greece is in dire need of money, and is also entitled to the issuing of EU-wide permanent residency permits, so it makes sense for Greece to follow suit. * Technically speaking, Schengen-Area-wide.
- rizwank 12y agoHow did this point somehow not make it into the article, is what I'd like to know.
- klipt 12y agoIt's only EU-wide as long as Malta is in the EU. Which may not be for long if the EU decides it doesn't like Malta selling EU-wide residency permits.
- pjc50 12y agoThere is no process for expelling countries from the EU, or even voluntarily leaving. Only route is full treaty renegotiation.
- klipt 12y agoAll I'm saying is, if I were a rich country, and opened my border to a small poorer country who then sold the rights to my open border to the highest bidders, I would reconsider the situation very quickly.