Property for Sale in Malta
Property in Malta is not cheap, but it is usually a very good investment. For several decades, the Maltese housing market has seen average annual gains of around 80%. Over the past two years, most properties have increased their value by at least 20%. Property owners who rent out houses or apartments on Malta usually earn a very good return. There are no property taxes or rates in Malta.
There are some restrictions on what types of real estate a foreign national can own in Malta. Generally speaking, a foreign national is able to buy one piece of residential property that will be used as that person's primary residence or that will be used by that person as a holiday residence during part of the year.
Expatriates who take permanent residence in Malta are required by law to purchase a property there, which must cost at least LM 50,000 (LM 30,000 for an apartment), if they are not renting property for at least LM 1,800 per annum.
Prices of two bedroom apartments average between £75-100,000, although it should be noted that Maltese law prohibits foreign buyers from purchasing apartments or maisonettes for under £48,000 or any other property for under £80,000.
Holiday resorts such as Sliema, St Julian's and St Paul's Bay are popular with investment buyers, while Malta's capital, Valletta, is a haven for retirees looking for rays of sunshine away from the UK.
