Property for sale in Malta is a diverse market with everything from one-bedroom apartments to large family homes. The perfect property for you can depend on a variety of factors, including your lifestyle and budget.
How long does it take to buy property in Malta?
Buying a house is an exciting process, but can also be daunting. Fortunately, there are many tools to help you find the right property for you in Malta.
First, it’s important to understand how the legal system works in latest properties for sale in Malta. Once you’ve found a potential property, you’ll need to sign a promise of sale (konvenju in Maltese) stating the price and conditions that you’re agreeing to. This is usually compiled by a notary and signed in front of them.
Next, you’ll need to pay stamp duty — 3.5-5% of the purchase price depending on the value of the property. This is also a good time to ask the notary for additional research on the property and make sure that there are no bank or tax liens against it.
Finally, you’ll need to get a notary to draw up the deed and register it with the proper authorities. This can be a time-consuming process and you may want to hire a professional property negotiator to help you.
The Maltese government supports foreigners through a number of residence programmes, as well as the Individual Investor Programme. These programmes offer a wide range of benefits, including indefinite residency in Malta, free access to the EU/Schengen area, and visa-free travel throughout the European Union. In addition, residents are exempt from tax on foreign-sourced capital gains and income not remitted to Malta.
