The rapid sell-out of recent developments in Tarxien and Marsascala might seem remarkable in a dynamic property market like Malta’s, but for Vincent Baldacchino, Owner and Managing Director of Owners Best, it’s the logical outcome of a deeply analytical and systemised approach. 

Reflecting on the recent projects, Vincent attributes the rapid success to “two main things”. Firstly, the development itself. Stressing the importance of choosing the right location, Vincent maintains, it’s not just any location, but one where property is in demand, making it inherently easier to sell. Complementing this is meticulous planning. “The units are very well planned and designed,” he smiles.

Crucially, this success is underpinned by trust – something which, Vincent notes, buyers actively verify. “People know that we are keeping our deadlines,” he explains, which in turn, fosters confidence. Nowadays, buyers know to do their due diligence, whether its online research by younger buyers or professional checks by those with more experience, which highlights the value placed on reputation.

Finally, delivering well-priced properties through an effective team completes the picture. “We have a very good team of agents that specialise in brand new properties, and they know the market inside out,” Vincent states. 

Certainly, this market knowledge isn’t just intuition; it’s powered by extensive data drawn from buyer interactions. “It's all about the market – demand and supply,” Vincent states simply, noting that Owners Best meticulously records buyer requirements gathered through advertising and agent consultations. This database allows them to pinpoint what buyers are looking for: “we know exactly what people want, up to what budget.” 

This data-driven strategy informs the type of properties developed by their sister company, Cosmopolitan. The focus is often on affordability and meeting specific needs, such as the growing demand for smaller, one-bedroom units, he explains, noting that beyond budget and size, the data extends to preferred layouts. “We know which properties are selling faster than others, and that says it all,” he smiles. 

Addressing the broader Maltese market, Vincent acknowledges the high rental rates, yet maintains a core belief: “if people have enough money for a deposit, they would prefer to buy a property than renting.” On top of that, he sees property ownership as more than just housing, acknowledging that many clients view it as an investment. Interestingly, he notes a trend where young couples might opt to buy two smaller properties rather than one large one, perhaps renting one out as an investment.

The company’s growth includes the recent reopening of its Mqabba office under the management of experienced agent Brian Buttigieg. While acknowledging the growing digital nature of client interactions, Vincent sees the physical office as vital for the team. “It’s rewarding, and convenient for our people who live in the south,” he maintaints, while also serving as a tangible brand presence in the region.

This focus on people is central to the company’s philosophy. When hiring, Vincent explains that he looks beyond skills to character. “I always focus on the attitude of the person... the ambition to improve themselves,” he maintains, viewing it almost academically. “I always say that Owners Best is like a school. You start from kindergarten up to university, and you always fill the kindergarten.” The goal, therefore, isn't just to hire salespeople, but to nurture growth. “We help them to grow,” he smiles.

Does growth make maintaining quality harder? Counter-intuitively, Vincent believes the opposite is true. “I would say it’s the other way around. The more you grow, it becomes easier, because there is safety in numbers... the system takes over the individuality,” he maintains, noting that simplifying processes becomes key. “My job is mainly comprised of two things: searching for sites and searching for good people to join the company. When you have these two things, there is synergy.” 

This synergy is evident in the relationship between Owners Best (which handles sales and gathering market data) and Cosmopolitan (which handles development). “Owners Best knows the demand and finds the site,” Vincent explains. “Cosmopolitan designs and builds the properties. And then, the agency sells. It’s a circle.”

It’s no surprise then, that Owners Best attracts experienced agents looking to ‘notch up’ their careers, as Vincent puts it. The advantage? Access to a steady stream of exclusive developments which are in line with market demands. Apart from this, agents are encouraged to partner on developments themselves, offering a clear path for progression beyond traditional sales roles.

Looking ahead, the strategy is clear: continue leveraging the symbiotic relationship between understanding demand via Owners Best and fulfilling it through Cosmopolitan's developments. By refining their systems, empowering their people, and building precisely what the data indicates the market wants, Vincent Baldacchino intends to keep Owners Best firmly on its growth trajectory.