Finding a home is about more than just making a list of must-haves and then buying the property that fits the bill and is closest to work. Conversely, selling a property in Malta’s hot real estate market also takes strategy.
From the perspectives of both tax rates and regulations, the Maltese government is obviously paying close attention to the property market in Malta and is set on actively participating. Some of these stipulations apply in particular if you’re buying property in Malta as a foreigner.
This guide will walk you through all of the finer details of buying and selling property in Malta from the taxes involved to how your nationality affects the rules you need to follow.
Malta has a thriving and diverse real estate market. There’s a property for sale in Malta to fit every lifestyle and budget.
There are several tools, detailed below, that you can put to work to find your perfect property that’s for sale in Malta.
Note that these vary slightly if the owners put their property up for sale without an agent. If your Maltese dream property is for sale by the owner there may be special considerations to take into account and you’ll get a thorough outline of those below.
You’ll also find a handy guide to the lingo and jargon used to advertise real estate for sale in Malta.
Buying a home is a huge life step and the research can get intense – especially when you are buying outside of your home country.
Renting is a core way of finding a home here. Property rentals in Malta are especially popular with expats who make up a very large segment of the country’s tenants.
That’s partly because Malta is such a popular expat destination but also because there are no restrictions on foreigners renting property in Malta.
Real estate agents are sometimes used but often property will be for rent in Malta direct from its owner. On the tenant’s side, some property negotiators specialize in finding rental properties and can be hired to help in your search.
Finding a home to rent can feel like searching for a needle in a haystack. What’s the best town? How much should I pay in rent? What length of tenancy can I expect?
Second properties are especially popular in Malta. A recent survey found that almost 20% of Maltese residents own a second property somewhere in the country.
The obvious thing to do with your vacation property (or principal residence) when you aren’t using it is to rent it out. You probably don’t want to trek up to Gozo to change the sheets every time a short-term tenant checks out. And who wants to worry about a leaky roof while overseas for an extended stay?
Both situations are where good real estate management comes in handy. And also makes owning multiple income properties doable.
But Malta is a small country and, to some extent, the government has learned the lesson demonstrated by its Mediterranean neighbors. So, there is a fairly significant set of regulations on buying and renting property in Malta, which discourage run-away development and slipshod rental practices.
Many of us who call Malta home run our own business. If you’re planning to join the burgeoning class of entrepreneurs, you may also be on the hunt for an office or some type of commercial real estate in Malta.
Commercial property in Malta is a bit less widely available than the residential equivalent. It also tends to be more specialized, obviously, depending on the type of business you run.
Compared to renting or buying a residential property, there is an even greater expectation of caveat emptor and that both parties know what they’re doing when it comes to commercial property.
For all of those reasons, it is crucially important that you do your research, have a plan and seek advice whenever possible. This guide will help you draw up your plan and make essential decisions like whether to buy or rent.