Spatial patterns among retired foreigners in the Maltese Islands

Abstract

An increasingly popular trend in the developed world is that of migration following retirement in search of amenities such as a warmer climate and a better lifestyle. Since the 1960's, foreigners have been choosing the Maltese Islands as their retirement destination. Retired foreigners reside in various areas of the Maltese Islands. The aim of this dissertation, therefore is to identify spatial patterns created by the chosen residential areas. Patterns created by the types of property purchased and the characteristics of retired foreigners in Malta are also examined.. This dissertation also seeks to find whether retired foreigners have influenced local property prices. The research was carried out through analysis of literature, governmental statistics, a questionnaire and interviews with estate agents. The spatial pattern shows that there is a preference of northern localities, which are traditional holiday areas, such as Sliema, St. Julians and Gozo. There is an avoidance of central south localities, such as Zurrieq. Certain localities such as Bugibba, Zurrieq and Valletta are inexplicably underrepresented. Bugibba might not be as popular as expected because it is noisy. Zurrieq satisfies the criteria of the preferred locality since it is a quiet village, however no retired foreigners reside there. Valletta might be avoided due to its general neglect. The spatial pattern found in Malta is different from that in other Mediterranean countries where retirees purchase property in complexes built for them. The type of residence preferred by the retired foreigners is the apartment, as it requires less maintenance than other types. This is contrary to popular belief of their owning spacious villas. Retired foreigners in Malta are usually relatively young, married and affluent. These characteristics are similar to retired migrants in other countries. Local property prices seem to be increased as a result of foreigners being able to afford more expensive property than the Maltese. The price thresholds imposed on foreigners also contribute to the increase of prices.