Malta has a thriving real estate industry, and the number of property sales has soared in the past decade. Properties for sale in Malta range from traditional Maltese houses to modern apartments and villas.
Buying a home is one of the biggest life changes you will make. And with a little research and professional help, the process will be smooth and easy. However, there are some things to keep in mind. If you want to buy a property in Malta, you should have a good understanding of the legal requirements.
Foreigners can buy a house in Malta, but they have to meet certain investment requirements. This includes investing at least EUR700,000 to purchase a property. You also need to get a permit to acquire immovable properties from the government. The permit is usually issued within 35 days.
In Malta, the language is a mixture of Italian, British English, and American words. Traditional Maltese architecture has thick walls and golden-beige stone. Many inland villages still use this style.
Most apartment units in Malta were built during the housing booms in the 1970s and 1980s. These apartments are one to three bedrooms. They usually have a garden and a basement garage. It is common to find a terrace as well.
Another popular type of real estate in Malta is the character house. These are historic houses with property for sale in malta a retro style. Buyers often flip them for profit. People who buy these homes should have them upgraded by a professional.
Villas in Malta tend to be located in the more fashionable parts of the island. While many are in Valletta, the quieter Gozo is another good option.
Bungalows are also popular in Malta. These are small villas that have a garden and a central courtyard. These are usually on the outskirts of the city.
A lot of foreigners are choosing to buy property in Malta for rental purposes. This is a very lucrative business model. There are also government incentives for businesses in Malta.
The best way to buy property in Malta is through an agent. There are also many websites that will give you detailed listings of available properties. Although it is possible to buy a property in Malta directly from the owner, this is not recommended.
Buying a house in Malta involves intense research and a large amount of preparation. It is important to hire a lawyer and a notary. A notary will double check the title of the property and ensure there are no liens against it. He will also check for tax liens and bank liens.
Investing in Malta is a wise choice. Malta has a strong economy, great weather, and numerous thriving businesses. When you invest in real estate in Malta, you will earn a double return on your money: in the form of capital growth and rental income. So if you are considering buying a property, do not delay.
Buying a house in Malta is a life changing decision. Getting started on the right foot is essential to ensure you have a happy and successful real estate venture.