Atypical, the real estate market in Malta is dense and fiscally advantageous, both for individuals and businesses. It attracts many foreigners, the taxes are light and there is no property tax or housing tax.
The real estate market in Malta
The beauty of the landscapes, the temperate climate, the sun present 300 days a year, the very low crime rate, the excellence of the health establishments, the tax system and the friendliness of the inhabitants are the main factors which push the expatriates to make the acquisition of Luxury Real Estate in Malta.
Marionettes, apartments, houses of character, luxury villas, the Maltese real estate market can meet all needs. On the island of Malta and in Gozo, areas are reserved for luxury commercial and residential properties, they include high-end facilities and amenities and the owners can benefit from exemptions established by Maltese legislation.
If the real estate market falls in some countries, this is not the case in Malta. Investors appreciate, for example, the fact that it is possible to buy real estate through a company or a trust. If there are no individual shareholders to whom to transfer them, companies can use the profits which are not transferred without having to pay additional dividend tax. This mechanism is also used for the protection of assets.
It is quite common in Malta for properties to be acquired in trust, as Maltese jurisdiction over trusts is respected. Thanks to the Maltese Trust Company Law, trusts allow buyers to be assured that the property is maintained and managed in the best interest of the beneficiaries while optimizing investment. With the latest luxury properties for sale in Malta you can expect the best options now.
Where to buy property in Malta
The archipelago of Malta consists of three main islands, two of which are more likely to welcome you. Thus, we find Malta, the main island, the economic and cultural lung of the whole. Valletta (the capital), Sliema, Saint Julian’s, Maraskala, Marsaxlokk and Mellieha are the most populous and dynamic cities in this part of the archipelago.
Buying a property in Malta
To find the house you’ve always dreamed of, you can consult classified ads on specialized websites on the internet (there are many), read local newspapers, operate word of mouth and go to real estate agencies. If you do not establish your residence in Malta, however, you can only buy in an SDA ( Special designated area ).
Real estate agents take a commission, but they protect your interests by ensuring that the transaction will be carried out under the best possible conditions and that there will be no flaws in contracts and documents.
Investing in real estate in a foreign country is sometimes tricky, you have to know the market, the laws, the neighborhoods. There are different types of properties in Malta:
- character homes. They were built over 100 years ago and are generally found in typical Maltese villages.
- luxury properties. It is a market which is aimed at the most demanding (and the most fortunate): private swimming pool, exceptional view, sumptuous décor.
- secondary homes. They make it possible to reside in Malta for a few months a year, without being a resident, and have a particularly advantageous tax regime. It is possible to rent them when you do not live there.