Buying Property in Malta for the First Time

Your Journey Begins with RE/MAX Malta

Buying property in Malta as a first-time buyer is one of the most significant decisions you will ever make. It is also one of the most rewarding. The Maltese property market offers a wide range of options. Once you understand what to expect at each stage, the process becomes far more manageable.

This guide walks you through the key steps, from setting your budget to signing the final deed.

Step 1: Set Your Budget

Before you begin viewing properties, you need a clear picture of what you can afford. Your budget should go beyond the purchase price. It should also account for additional costs such as stamp duty, notary fees and your deposit.

Most first-time buyers will take out a home loan. For this reason, speaking to your bank early is essential. It gives you a confirmed borrowing figure and keeps your search focused from the start.

In addition, as a first-time buyer, you may be eligible for government schemes and incentives that can significantly reduce some of these costs. We cover these in full in our dedicated guide to first-time buyer schemes in Malta.

Step 2: Get Pre-Approval for a Home Loan

Once you have a budget in mind, the next step is to approach your bank for pre-approval. This gives you a confirmed borrowing limit. As a result, you will be in a much stronger position when you find a property you want to make an offer on.

Banks will assess your income, employment history and existing financial commitments. Furthermore, having pre-approval in place means you can move quickly when the right property comes along. It also signals to sellers that you are a serious and prepared buyer.

Step 3: Search for the Right Property

With your finances in order, the search can begin. Malta offers a wide range of property types. These include apartments and maisonettes in busy town centres, as well as larger homes and character properties in quieter villages. Gozo is also worth considering, particularly for buyers looking for more space at a lower price point.

Location matters as much as the property itself. Think about your daily commute and proximity to schools, shops and amenities. Also consider whether the area suits your lifestyle over the next five to ten years. The condition of the property and its long-term resale value are equally important.

A RE/MAX Malta agent can help you navigate the options. They can identify properties that match your requirements and guide you through every viewing.

Step 4: Make an Offer and Sign the Promise of Sale

When you find the right property, the next step is making an offer. Once accepted, both parties sign the Promise of Sale agreement, known in Malta as the Konvenju.

The Konvenju is a legally binding contract. It commits both buyer and seller to the transaction. At this point, you pay a deposit of typically 10% of the purchase price. The property is then reserved in your name.

During the period that follows, your notary carries out all the necessary legal due diligence. This includes confirming that the property has a clear title. It also ensures there are no outstanding legal issues before you proceed to the final stage.

Step 5: Sign the Final Deed and Become a Homeowner

The final stage is the signing of the deed of sale. This typically takes place two to three months after the Konvenju. By this point, all checks will have been completed and your mortgage fully approved.

At the signing, you pay the remaining balance of the purchase price. As a result, ownership is officially transferred into your name. Your notary then registers the transaction, and the process is complete.

From that moment, the property is yours.

The RE/MAX Takeaway

The property buying process in Malta is straightforward when you know what to expect. Preparation is everything. Moreover, having the right people around you makes all the difference.

Your journey begins with RE/MAX Malta. Whether you are just starting to explore your options or ready to make an offer, speak to one of our agents today. We will guide you from your first viewing to the final signature.

Frequently Asked Questions

What is the first step to buying property in Malta?

The first step is to set a realistic budget that accounts for the full cost of purchase, including stamp duty, notary fees, and your deposit. Speaking to your bank early to understand how much you can borrow is the best place to start.

What is a Konvenju in Malta?

The Konvenju, or Promise of Sale, is a legally binding agreement signed by the buyer and seller before the final deed. It reserves the property in the buyer’s name and is accompanied by a deposit of typically 10% of the purchase price.

How long does buying property in Malta take?

From offer accepted to signing the final deed, the process typically takes between three and six months, depending on how quickly the bank approves the mortgage and how complex the legal checks are.

Do first-time buyers get any help when buying property in Malta?

Yes. The Maltese government offers a range of schemes and incentives specifically for first-time buyers, including stamp duty exemptions and grants. Read our full guide to first-time buyer schemes in Malta for a complete breakdown.

Do I need a notary to buy property in Malta?

Yes. A notary is required for every property transaction in Malta. The notary is appointed and paid by the buyer and is responsible for all legal due diligence, the preparation of contracts and the registration of the transaction.

For more details on costs, schemes and what to expect as a foreign buyer, explore the rest of our First-Time Buyer series.