Investing in Malta’s real estate market, here are some reasons why buying real estate in Malta is a great idea. Let us guide through the process.
Malta is rich in history and boasts many beautiful beaches and resorts, making the island an ideal destination for tourists and property investors willing to purchase property in Malta or in Gozo.
In the last couple of years, the real estate market experienced a boom in demand and investment. Such an increase in demand caused local and foreign investors to buy real estate for their personal use or to rent (buy-to-rent). The main reason for foreign investors buying property in Malta or Gozo is mainly due to the Maltese real estate market being a safe venture and thanks to this guide, here is why.
If you can name a couple of countries in Europe where their real estate market has been hardly affected by the Global Financial Crisis, Malta is definitely one of them – and perhaps the only one.
Sound banking ethics and the age-old tradition of the Maltese general public (98%) believing in investing in brick and mortar has been major contributing factors and reasons why the Malta real estate avoided the ill-fated real estate crash that hit Europe by storm a few years ago.
While other countries’ real estate markets are still recovering, the Maltese real estate market during the 2014 budget, corrected its pricing during that period by 5% to 10% (depending on the geographical area) and today it is one of the only European countries experiencing consistent capital growth.
The good news is that whether you are looking to rent or purchase real estate in Malta or Gozo, the market has a vast selection of properties available that will suit anybody’s needs as well as their budget. The average price of a highly finished two or three-bedroom apartment in Malta is approximately €220,000. Depending on the location and type of property this will differ. One may search our Malta real estate website to view the vast selection and compare prices accordingly. Explore more guides about purchasing real estate in Malta.
The introduction of the Global Residence Programme has fiscally beneficial advantages that may be considered if one is thinking of relocating to Malta. Available for Non-European Nationals at the present moment, however, a similar scheme will be introduced by the Maltese Government by the end of the year. As part of the criteria to become a Maltese resident, the applicant must either invest in real estate in Malta or Gozo while they can also rent a property on the Maltese Islands. The thresholds and criteria may be found if you visit our Malta Residence page on this website.
One of the major advantages is the fact that the applicant may while enjoying the opportunity to live on the Islands he/she may apply for a special tax status of 15%, which is calculated on the income received in Malta, where there is a minimum threshold of €15,000 remittance. We would always recommend that you speak to an Authorised Registered Mandatory regarding the legalities and criteria so that you may become knowledgeably informed about the schemes available for you.
I don’t think that I have to mention the weather here but I must assume that our typically Mediterranean, hot and dry summers, warm and sporadically wet autumns, and short, cool winters are very attractive to those that live in generally wet climates. Malta is adored by many because of the fact that Malta has beautiful beaches that are all a stone’s throw away from their home. Likewise, the culinary culture and entertainment areas are close enough to stay away from but also easily accessible.
It is good to know that Malta has a very high standard of hotels, which may eventually accommodate your friends that will want to come and visit you and it’s important to mention that the Maltese people are very hospitable and that the Maltese people the English language amongst other languages fluently.