Real Estate Malta – An Attractive Investment
Real estate Malta is a very attractive investment, especially when it comes to apartments in luxury complexes. These complexes feature security, closed yards, and recreational facilities, as well as a swimming pool. In addition, they are close to popular schools and renowned medical centers. The real estate market in Malta has enjoyed constant growth for several years.
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For foreigners who want to acquire a property in Malta, the most popular options are modern apartment buildings in the capital Valletta and its suburbs. However, buyers can also find traditional townhouses and country villas in rural areas. When choosing a property, it is important to rely on trusted professionals who have extensive local knowledge of the market.
In general, there are no restrictions on the purchase of property by non-EU citizens. However, the purchase of properties outside of Special Designated Areas (SDA) requires an AIP permit. In addition, foreigners can only purchase a single property and cannot rent it out.
The process of buying a property in Malta begins with a promise of sale agreement or a preliminary contract. A notary then prepares a final purchase agreement, notifies the Ministry of Finance, and registers the transaction. Investors pay a stamp duty of 2 to 7% of the property’s value and a property acquisition tax of up to 5%. In addition, they pay a land tax of EUR40–250 per year for the land on which the property is located.
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