Are you moving to Malta? Taking up a new job in Malta? Looking for a holiday home here? Or moving a whole division of your company to Malta and looking office space for your employees? Different people may have the different reasons to find properties. If you are looking for the same, then this content can help you a lot to find the best property in Malta.
Malta, a small island country in Southern Europe, is attractive for those looking for a home not only because of its good weather and a favorable tax regime. But, this beautiful destination offers a superior educational system, a high-quality European standard of living, friendly people and a typically safe environment. If you are also interested in buying Malta real estate, then there is plenty of property available in many towns.
Major Property Hotspots in Malta
Expatriate working professionals who want to settle down close to their new office to avoid an annoying commute can look for homes in Vallettam. The tiny capital of the Mediterranean island nation of Malta and a hotspot for heritage tourism. On the other hand, the neighboring island of Gozo is a half-touristy and half-rural idyll so only of interest to reclusive retirees or people working in the local hospitality industry.
For an active social life, expatriate working professionals may be better off living in the Greater Valletta areas. Sliema, Paceville, St Julian’s and northwest of Valletta are the most popular areas with tourists and expats. Additionally, these areas are particularly popular with younger expats, because most of the busiest nightclubs and bars are to be found here.
A relatively recently developed town in Malta, Swiegi is just within walking distance of Malta’s nightlife and entertainment centers. There are some vacant properties in this town. Expats who prefer the hustle and bustle of a beach resort should rather opt for St Julian’s or Sliema. If you prefer apartments close to the sea, then Malta comprises just 122 square miles and thus the sea is never far away.
Sliema and St Julians are popular for seafront apartments. This beautiful place is an ideal place to stay for many English Language students coming to Malta and preferring to stay with a host family as most of the English Language Schools are situated in this area.
Malta’s “Three Villages”
Independently wealthy residents and well-off retirees should considerAttard, Balzan, and Lija, collectively known as the ‘Three Villages’. Attard and Lija are sought after neighborhoods for both the local élite and wealthy expatriates while Balzan tends to pull younger families with a middle-class or upper-middle-class background. Also, Balzan is the smallest of the Three Villages. No matter which of the three you decide to choose, their proximity to each other makes them equally as well as easily accessible.
There are some restrictions or limitations on buying. For example- EU citizens can only buy one property in Malta or Gozo, except in the ‘Specially Designated Areas (SDA’s), where there are no limits. Generally, these are upmarket areas where prices are growing fastest and demand is highest. On the other hand, properties outside the Specially Designated Areas can only be used for personal use and a second property can only be bought after residing for five years on the island.
Have A Look Around on Popular Real Estate Portals
Whether you are considering moving to Malta due to any reason, It is recommend to have a look around on popular real estate portals like Propertymarket.com.mt, a well-established real estate portal. Through their experience in the property sales and letting business they have dealt with all types of clients and scenarios. They fully understand that this could be the most vital decision of your life and that the move to a whole new country needs proper assistance and guidance. Entire houses are only offered for rent or lease.
Tips for Buying a Place
If you are interested in purchasing Malta real estate, then a few steps to follow:
- Appoint A Notary and A Lawyer,
- Get A Regal Permit,
- Sign an Agreement and Pay the Fee and Deposit
- Sign the Final Paperwork and Pay for Everything Else
If you are an EU citizen, then the property you are buying will not be your main residence or address, but you will need to get an acquisition of unmovable property permit, which is granted by the Ministry of Finance.
A preliminary agreement is signed between the seller and buyer once you have decided on a property. This is valid for three months. Before entering a final deed of sale, the notary will carry out the essential searches into the property to confirm everything is in order before proceeding. Once everything has been done, a date is set for the signing of the final deed of property transfer at which point the balances due must be paid by the buyer.
Some Facts About Malta
- Malta lies in the Mediterranean Sea 58 miles from Sicily, 179 mileseast of Tunisia and 186 miles north of Libya
- More than 450,000 British tourists visit Malta every year
- Malta became an EU member in May 2004 and started using the euro in 2008
- Malta has been occupied by Phoenicians, Romans, Arabs, Greeks, French and latterly Britain, which acquired possession in 1814.