Buying real estate in Malta is a popular choice for both first-time home buyers and seasoned investors. The country is filled with vibrant towns and cities where traditional and modern lifestyles coexist side by side.Source :propertymarket.com.mt
To buy a property in Malta, you can look for it online or through local agents. However, it is crucial to seek guidance from a lawyer or legal advisor, as they can help you navigate the buying process and ensure that you comply with all of the relevant regulations.
In addition, a lawyer can help you assess the quality of your property and negotiate with sellers to get the best price. He or she will also be able to advise you on the best type of financing for your purchase and ensure that your rights as a buyer are protected.
Buying a Home in Malta: What You Need to Know
It is also important to note that Malta has specific rules and requirements when it comes to foreigners purchasing property. For example, the country’s laws stipulate that a buyer must pay a five percent stamp duty upon transfer of ownership and a one to three percent notarial fee.
If you are looking for a property in Malta that is suitable for resale, then it is recommended that you focus on the cities of Sliema and St. Julian’s, which offer a wide range of restaurants and nightlife activities. Alternatively, you can choose to live in the capital Valletta, or Mdina for stunning architecture and a bustling cultural scene. If you want a quieter life, then Zebbug, Rabat or Gozo are good options for a countryside setting with traditional stone houses.