MBR_Issue_28 -February 2017 (1)

Malta Business Review
REAL ESTATE INTERVIEW OF THE MONTH
Malta Business Review
Character
&
Trust
By George Carol
Thanks to their specialised and professional
approach, the Belair Property team is on
the right path. In charge of this well-known
and respected specialist in the Maltese
real estate market, Ian Casolani, Managing
Director, who is a prime mover and shaker
shaping the real estate marketplace and
changing the skyline, lifts the lid on present
prestigious projects and beyond.
Ian Casolani, Managing Director at
Belair Property
MBR: The property market has boomed
over recent years, do you think this
growth is sustainable?
IC: The property market has had a good
run and just as we thought it could go
no further, it did just that. People talk of
bubble and overpriced properties, and
everyone seems to have their own take
on this matter, however, what is certain
is that a market is controlled by demand
and supply and while demand remains
high, prices will remain so too. The market
has evolved radically over recent years
and nowadays it is not only the local
looking to buy a home, but it is also the
investor looking to put savings into a solid
investment and earn a reasonable return,
it is the expat who has spent considerable
time here and now wants to invest in his/
her own property rather than a rental and
then there is the larger investor, local and
nowadays also many foreign, who are
appreciating the way Malta has positioned
itself internationally over the last ten or so
years, and believe they should be taking
advantage of this. All of this compounded
with the increasing number of High Net
Worth international clients obtaining
residency or citizenship on our islands,
continue to fuel this growth and allow it
to remain sustainable. Saying all that, it
is imperative that developments become
more sustainable and investors do not
get carried away, since if things had to
change, it is a cautious and sustainable
approach that will then reign supreme.
As a responsible Real Estate Agency, it is
also our duty to guide developers well to
ensure that the developments that come
on line are quality developments and
meet client need and expectations.
MBR: Belair Property has a solid
reputation as an established and
reputable player on the local Real Estate
scene, how do you feel this adds value to
buyers and developers alike, both locals
and foreigners?
IC: Over the years we have worked hard
to grow slowly but surely, ensuring that
our clients, and this includes both sellers
and buyers, feel comfortable enough to
trust us and take on our advice. This has
been fundamental in achieving the trusted
reputation, we feel humbled to have
managed to earn to date. Most agents
can sell or rent a property (if not they
might as well change careers), however
for us it is more than just that, we take
pride in guiding our clients into the right
investment, we crunch numbers down
to the last penny for them, when trying
to determine which would be the better
property for them to invest in for rental
returns. We sit with developers both
small and large, to study the market,
guide them on current trends, advise on
suitable pricing and more importantly
insist on the criteria and qualities that
their project would need to meet, in order
to be competitive and ahead of the game.
This is part of the added value we have
really managed to develop over the years
and a value which we know our clients are
appreciating and for which developers are
treating us as partners and not just as their
agent.
As a responsible Real Estate Agency,
it is our duty to guide developers
well to ensure that the developments
that come on line are quality
developments and meet client need
and expectations
MBR: Belair has continued to grow, how
do you think 2017 will be for the property
market and what are Belair’s plans for it?
IC: Our head office in Gzira and our
St.Julians Offices, both continue to perform
very well. Our more recent office in Naxxar
has had a great first year and looks all set to
continue to grow. 2017 should be another
exciting year for the property market and
we feel very confident that Belair Property
will yet again leave its mark. For the first
time in the history of Maltese Real estate,
one agency has been entrusted to sell a
major development exclusively. Belair
Property was entrusted to sell the entire
iconic 14 East development (previously
Hertz building) and has since sold the
entire commercial core of this project,
including 4500m2 of high end office space
and to date already 50% of the first phase
of residential units launched, within a
matter of days. In addition, Belair Property
was also given joint exclusivity with
another agent to represent the new City
Centre project. This proposed mixed-use,
lifestyle development is set to become
one of Malta’s prime real estate and we
are proud to have been entrusted with the
sales of the first phase of this project. All
this, together with our ongoing marketing,
events and seminars overseas, including
our continuous efforts to strengthen our
management and back office structures
should keep us pretty busy and we are
quite sure that this should be an exciting
year ahead ! MBR
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