Wetag International Insights Luxury Property, Architecture, Culture and More

Old meets new. Classical meets contemporary. To call their house a mere abode would be a gross understatement in fact. From the location and positioning of their home, to the pastel colours chosen for the facade, accentuated by bright red geraniums you can easily tell that this is definitely not the run of the mill when it comes to Maltese houses.

The house, just to put you in the picture, is called Il-Palazz tal-Kontessa (The palace of the countess), and a palace it is. But not in the sense of the oft garish and overly ornate baroque and rococo ambiences generally associated with palaces.

This is a place which oozes with contemporary grandeur. Actually the word which comes to mind is taste, with more than a touch of class too. These people obviously know what they’re doing, they are A-class strategists at planning any space to the most minute of details.

Inside is another matter. If you had any shred of a doubt concerning what these home-owners did for a living, stepping into their front door would confirm any initial speculation or suspicion.

The first two rooms to greet visitors are the working studios. Here functionality and fun meet and literally embrace. The ceiling lights double up as potent fans; the skirting along the walls serves not as a decorative feature, but has rather been devised in such a way to hide all the wiring of the rooms. Books, sketches, swatches of paper and assorted paraphernalia just help give the added feel that this is where the ‘magic’ happens. Moving into the heart of their home, the eye quickly travels along a spacious corridor and settles on an open space with thick transparent glass flooring. This beautifully roofed courtyard is a quasi cloister which doubles up as a mini art-gallery. Interestingly, this space transforms into a modest dancing-floor, which can sustain the weight of some 60 people. And should anyone suffer from vertigo, a faux turf carpet is stashed away and “on call” should the need arise to hide the glass flooring.

Natural light abounds, yet it is suffused by the UV-filtering skylight, and one can only imagine the gorgeous atmosphere this place possesses at night. Needless to say, the place is pointedly punctuated with several design prototypes from their various enterprises; these eye-catching pieces often free-standing, dominate the individual spaces, and could easily be mistaken for contemporary sculptures or installations.

The eye travels further and is met by a lush green garden, complete with a green mosaic swimming-pool, just the right garden furniture and standing lamps – all of which merge perfectly into the natural surroundings whilst simultaneously complementing the overall ambience.

The house is moreover divided into segments, the formal entertaining part on the ground floor comprises a gorgeous wet bar/small sitting room alongside a formal dining room, off of which a children’s room was planned for their ‘younger’ guests. Upstairs however, a much larger sitting room and adjacent library clad with antiques and contemporary pieces alike, establish a true note of excellence the likes of which are only seen in historic house museums.

The kitchen on the other hand, is a spectacle – a haven for any gadget or electric appliance connoisseur. Although it is the room where function prevails, form has definitely not been compromised or sacrificed – even a top chef would have a fieldtrip given the run of such a space.

Their home also boasts an elevator, an ample basement, a sauna, a wine-cellar, a meditation room, walk-in closets and a wonderfully tranquil conservatory-cum-dining area.

All the while the A to Z of the household ensures complete security, child friendliness, and energy efficiency, without compromising on the entertainment, fun, style and cutting-edge design.

The Palace of the Countess - Luxurious Villa on Malta - View this property for all details >>

Posted By: Peter Rabitz

Bilanz Homes, Switzerland’s real estate magazine just published a very interesting article on some of the world’s most interesting tax havens worth to by a property. Switzerland itself is one of the investment friendliest countries in the world so Swiss citizens more likely looking for a place to escape the cold and wet winter weather, but where they still enjoy financial advantages.

Countries on that list who are offering a very mild and warm climate, white sandy beaches with palm trees and a relaxing lifestyle are St. Kitts, Bahamas , Croatia and Malta just to name a few. St. Kitts for example features a very tax friendly climate for foreigners. The 168 square miles big island, part of the British Commonwealth, is a independent country located in the northern group of the Antilles and only approx. 2000km south-east of Miami, Florida. Besides its stunning beaches and crystal blue water it also offers no income tax, no capital gain tax and no inheritance tax. When purchasing a property, there is a 6% stamp duty of the sales price and further 0.2% to be paid into a state insurance fond. The annual property tax is 0.2% of the market value. A nice side effect when buying in St. Kitts is that you will be able to become resident when buying real estate worth more than $400’000. So without a doubt, this is really of interest if you are living in a country where it’s of great advantage to be able to hold dual citizenship so traveling for example will become easier.

One of the rising stars in Europe as being a tax haven is Malta, a small island in the Mediterranean Sea south-west of Italy. The small country with a population of round about 400’000 and with one of the lowest GDP’s in Europe joint the EU in 2004 and the Euro zone in January 2008. Furthermore its part of the Schengen Country. Malta has a unique tax infrastructure featuring very interesting fiscal incentives not only for individuals but also for organizations. Malta has no value added tax and no sales tax. A 5% transfer duty has to be paid when purchasing real estate on the island. There are also no regularly recurring taxes or fees on properties. Officially, you don’t generate income with real estate so there is also no income tax to be paid. A foreign individual who takes tax residence in Malta, is taxed at 15% on the income brought into Malta, whilst organizations that set up a real office in Malta, although still attract a corporate tax of 35%, the foreign shareholders are refunded 30% of the tax within 20 days. Malta is also named “little Hollywood” because its ideal for filming and many box office movies have been shot on the island. The country offers a variety of incentives for aviation and vessel industry. Wetag is offering one of the most sought-after luxury properties on Malta. The townhouse like villa or palazzo is located in Rabat and features stunning interior design by Schembri Design Studio, boasting all luxurious amenities of these days. High end finishing’s and a great setting with the possibility to have also your own office in house make this property a rare find on the island. With all these above mentioned advantages combined with 300 days of sunshine all year round, Malta has seen a huge influx of high net worth individuals, organizations and foreign investment.

Posted By: Peter Rabitz