Valletta prepares to be crowned european capital of culture

View from the balcony of a luxury Valletta apartment Photo: Malta Sotheby's International Realty

In anticipation of being crowned European Capital of Culture in 2018, Malta's capital city of Valletta is undergoing a transformation.

In anticipation of being crowned European Capital of Culture in 2018, Malta's capital city of Valletta is undergoing a transformation.

Following the completion of the Renzo Piano main gate project and being voted one of Europe's top destinations, the city - inheriting the name of Grandmaster Jean de la Valette - is restoring to its former glory, when the Order of St. John adorned it with baroque architecture across Europe.

Valletta was voted high amongst the top 10 European Destinations of 2015 on an online poll organised by European Best Destinations, surpassing cities such as London and Paris.

Indeed, Valletta's streets are coming back to life through the various cultural events that are being regularly organised and its colourful nightlife scene.

Whereas up to some time ago, Valletta's streets were crowded during the day and mostly deserted in the evening, people are welcoming the fresh breath of this Change and looking forward to evenings spent in the capital. Both the local government and the private sector are putting in significant investment that is contributing towards raising Valletta's profile and placing the city in the spotlight. People are looking at Valletta, going there and also staying there.

The concept of boutique accommodation in the city has become popular and Valletta property owners have started reconsidering the potential of their old buildings, which had been kept locked up and abandoned.

"roperty in Valletta previously enjoyed an advantageous location but now that the general physical environment is undergoing regeneration and Valletta is benefiting from the status of one of Europe's most attractive destinations, it is much easier to point out the advantages of investing in property here," comments Sotheby's International Realty.

"In view of Valletta's most promising prospects and upcoming events, now would be the ideal time to invest in property here, as the market has just started to really gather momentum."