If you are considering investing in buying property in Malta, there are certain factors you need to be aware of. In Malta, there are certain restrictions on what kind of property a foreigner can acquire and what he can do with it. A foreigner can buy one piece of residential property, which he can use as his main residence or as a vacation spot when he visits the place. The purchased property cannot be rented out to anyone else. In order for a foreigner to be able to buy a property in malta, there is a minimum price that must be paid for an apartment, as well as for a house or villa, in order to be able to obtain an AIP (purchase of immovable property) permit, which is issued by the Ministry of Finance and usually takes about 6- 8 weeks. These prices are €169,205 for a house or villa and €101,551 for an apartment or maisonette.
Conditions
When buying property in Malta, several conditions must be met. The property that a foreigner wants to buy must cost at least 1,16,468 euros. In addition, funds for the purchase of property in Malta must be raised from outside the country.
Despite the restrictions, the serene beauty of the Maltese Islands draws people from all over the world. Some of them want to buy property in Malta and spend the rest of their lives relaxing among the beauty of nature, while others invest in real estate just for the sake of vacation. The island is small but boasts a lot of character. From various historical sites testifying to the different cultures that have visited Malta, to luxurious sandy beaches under blue skies and a variety of mouth-watering dishes, Malta has all the ingredients to keep tourists coming back for more. Some visitors are planning to buy property in Malta as a place of retirement.
Foreign investors
Foreign investors are always looking for the next best option. Malta fulfills the wishes of those who dream of luxury real estate and live in a warm Mediterranean climate. With long warm summers and mild winters, Malta attracts thousands of people who love to recover in the natural warmth. Luxury residential real estate is second to none and leaves no room for disappointment. Malta’s strong financial system and business ethics ensure that you buy your property in a safe harbour. With its limited space, the land is at a premium. Not only will you benefit from this luxurious and healthy lifestyle, but your property will also be valued and earn you a return on your investment.
Malta’s strategic position
Malta’s strategic position in the Mediterranean region has enabled it to become a center of multicultural activity. Not only have the language and food been influenced by its Italian and Arab neighbors, but the British have also made their mark as recently as 1974 when Malta gained independence. Since the Maltese are very familiar with foreign nationals, this ensures a healthy and peaceful coexistence between locals and foreigners.
Business Point of View
In business, the Maltese are accustomed to working alongside foreigners from all over the world. Malta has a very strong financial and legal framework. The foundations and framework of the business proved invaluable. During the last economic global crisis, the Maltese banking system did not fall into a crisis situation. This in itself shows that foreign investors are not just investing anywhere, but investing in a high-quality product, luxury real estate in a Mediterranean country, enjoying the Mediterranean culture and lifestyle, in a safe economic environment where foreigners are welcomed and greeted with warm Maltese hospitality. .
Luxury real estate
Luxury real estate in Malta really allows you to get an unforgettable experience of luxury living. The property occupies the best location on the island with stunning sea views or historical architecture. The standard of properties is most often luxury, and owners are offered the full range of five-star hotel amenities, including a place to moor their boat.
Previously, foreign and EU citizens could only purchase one property intended to be inhabited by the owner. This has recently changed: now foreign citizens can buy additional real estate and rent it out under a short-term lease agreement, provided that the value of the real estate exceeds 233,000.00 euros; has a swimming pool and is registered with the Hotel and Catering Board. Some of the best locations and properties that fall under these “specially designated areas” that provide luxury real estate are Tignes Point, Portomaso, Cottonera, Manoel Island and Chambray (located on Malta’s sister island Gozo).
As a luxury property owner in Malta, you can rest assured that your property will appreciate in value, offering you a return on your capital income to buy homes in malta and located in a prestigious economic environment. In addition, you will also really enjoy
