Buying Property in Malta – All You Need to Know


Malta boasts an extensive property market featuring everything from modern apartments and villas to historic homes that meet every taste. Get the Best information about property market Malta.

If purchased within Malta’s Special Designated Areas (SDAs), purchase procedures can be simplified, eliminating the need for an AIP permit. Still, an attorney or notary should accompany this process.

1. Find the Right Agent

Selecting an agent with appropriate expertise is paramount when buying property in Malta. Information can be found via local publications and online directories, while you could seek personal recommendations from friends or family who have done so themselves. An ideal agent would have an impressive track record, extensive knowledge of their surroundings, experience dealing with international buyers, and be responsive to any of your queries or concerns professionally.

Your property purchase in Malta should depend on your lifestyle preferences. For a lively urban experience, properties near Sliema, Gzira, or St Julian’s may offer great shopping, restaurants, and nightlife. On the other hand, for a more tranquil village experience, consider Zebbug or Rabat, which are further from Malta’s tourist center but still close enough for easy commutes.

Before purchasing any property, particularly older houses, it’s advisable to carry out an inspection. Doing so could uncover hidden problems that could cost thousands in repairs later on.

2. Get Preliminary Approval

Malta offers expats the chance to buy new apartments and luxurious villas at attractive prices. Still, they must understand the process involved when purchasing properties here. As with any legal matter, having a lawyer on board would be helpful during this process.

Once you have found a property you want to purchase, the next step should be gaining preliminary approval by signing a promise of sale agreement (Konvenju). The contract specifies a timeframe within which you must complete the purchase and any terms and conditions which must be fulfilled to proceed with the deal.

Suppose you plan to rent out the property after purchase. In that case, an agreement between yourself and the seller must be reached to guarantee that ground rent remains consistent for 20 years after your purchase – this step ensures you can recoup your investment. Furthermore, during property transfers in many European countries, you must pay an extra stamp duty rate of 5% which makes you pay even more in fees than expected.

3. Make the Offer

Malta’s real estate investments have proven themselves a safe bet. Offering a warm climate, incredible culture and heritage, and citizenship opportunities through property investments. Furthermore, according to Eurostat statistics, property prices have seen consistent annual increases of between 3-6%,

Malta has seen the development of numerous high-end luxury developments, particularly in prime locations. These properties include porters, reception area services, pools, and parking facilities – often listed by the government as “Lifestyle Developments” non-EU citizens can even purchase these properties without needing an AIP permit.

Traditional villas and renovated farmhouses in villages may also be found for sale, though these tend to be more expensive than newer properties. Off-the-plan purchases may save money; the completion date may be delayed. When considering any purchase costs such as stamp duty, registration fees, notary charges, property searches, and legal fees, it should also include the agent’s commission as an expense item in their purchase price – once all parties involved agree upon a promise of sale agreement (known in Japanese as Konvenju) signing one must take place.

4. Sign the Contract

After reaching an agreement on price, both parties will sign a promise of sale (known in Maltese as a “kunvenju”) which provides that both vendors and buyers promise to sell and purchase property within a set timeframe, respectively. Its significance in the buying process cannot be overstated: protecting both parties from back-outs or any potential issues during negotiations is vitally important.

Once it’s time to seal the deal, an appointment with the notary will be scheduled; all outstanding balances will be settled, including the remaining balance owed to the vendor, a notary fee of around 1%, and stamp duty.

Non-EU citizens purchasing immovable property in Malta are usually subject to paying stamp duty when buying real estate; one exception is those purchasing through Citizenship by Investment program. This scheme offers qualified applicants and their families a chance at becoming citizens in 12 to 36 months by purchasing property under this program – which makes buying property in Malta under this program considered a severe long-term investment that may yield considerable returns over time.

5. Pay the Deposit

Malta’s real estate market offers something for every taste, from luxurious villas to traditional houses with character, contemporary apartments, picturesque villages, and countryside settings – something no other place can match!

Finding your first property can be a significant milestone in life. It can represent a considerable financial commitment, so you must know how much you can afford and what’s involved. If purchasing in Malta, consulting a mortgage specialist would help determine your budget and select an ideal loan solution.

Once a purchase agreement has been made, the final step is paying the deposit. Typically equivalent to one month’s rent, this must be made directly to the owner. Furthermore, any property purchased in rural areas should be subjected to an initial survey – your solicitor can recommend an experienced surveyor.

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