Foreigners are snapping up real estate on a tiny Mediterranean island to get EU citizenship, and it highlights the significance of 2nd passports as status symbols among the wealthy


Malta's real-estate market is on fire.

Thanks to a robust economy and government incentives to foreign buyers and businesses, the Mediterranean island's property market is one of the world's strongest, Ruth Bloomfield for The Wall Street Journal reported. Asking prices have increased by more than 10% in the past year, she wrote, citing Knight Frank's latest Global House Price Index.

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