In the last five years, Malta’s real estate market has experienced steady growth. Prices have increased by about 4% per year, and are expected to keep rising. This is an ideal investment opportunity for those looking to buy real estate in the Mediterranean. The Maltese government has taken measures to ensure that real estate is more accessible to foreigners.
To be able to purchase real estate in Malta, a non-EU citizen must obtain an Acquisition of Immovable Property permit (AIP). Non-EU citizens can also purchase shares in Malta’s property owning companies. These companies have to notify the Registry of Companies of Ultimate Beneficial Owners.
Buying and selling property is a time-consuming process. You can use a property agent to find a suitable property and arrange a contract with the seller. Once the deal is complete, you will need to pay a notary for the transfer of the property. If you’re a foreigner, you will need a Maltese bank account to make the transaction.
Real estate in Malta is one of the most profitable investments available in the country. However, the number of foreigners purchasing real estate in the country is limited. Nonetheless, the price of property in Malta has been growing by 5–7% annually for the past two years. Considering the high rate of capital growth in Malta’s real estate market, you can expect to earn good returns on your investment.
Most of the real estate in Malta is rented out to tourists. For investors, this makes the property more liquid. Rental income is taxed at a progressive rate. Those who earn passive rental income are taxed at 20%. There malta real estate are certain specific deductible expenses, however. Depending on the amount of your property’s value, you can claim a tax break.
The real estate market in Malta is very popular with British pensioners. It offers a relatively stable political and economic climate, and the crime level is very low. Moreover, the average rent in Malta is considerably less than the cost of buying an apartment in the country. As a result, more tenants stay in the market longer.
Buying property in Malta can help you qualify for the Citizenship by Naturalization scheme. Under this program, you can receive a Maltese passport within twelve to thirty-six months of making the necessary investment. During the past year, the price of Maltese property has risen by approximately 5%. This is due to the introduction of a new high-rise policy in the island.
While the Maltese government has created a pro-immigration atmosphere, foreigners can still get restrictions on their ability to buy property. Before you start your search for a home, it’s important to be aware of these laws.
One of the most common types of property in Malta is an apartment. Apartments are usually located on a single floor and share common parts. Aside from that, you can find terraced houses, historic homes, and villas. But, when buying property in Malta, it is important to find out if it is in a Special Designated Area (SDA). SDAs are areas where you can buy and sell real estate without restrictions.