Malta is a beautiful county located in the central Mediterranean between North African coast and Sicily. It has been a paradise escape for people all around the world due to its historical sites and a vibrating nightlife. Wouldn’t it be great to spend weeks if not months at the time there? Relaxing on the beach, reading a book and sipping a cocktail? If this thought has occurred to you, and you are considering buying a property in Malta, here is everything you need to know.
Firstly, let’s discuss the location. It consists of three islands, the biggest being Malta. Not only is it the main island, but it is also the country’s cultural and economic center. Among the most popular areas are the capital city of Valletta, as well as Saint Julian’s and Sliema. The latter two are the most popular locations for buying a property. They both offer magnificent sea views, a good public transportation system and a number of schools if you are thinking about relocating permanently. Similarly, Valletta offers the same things, but it is also a great place for starting your business company since more and more people are drawn to this piece of heaven every year. On the other hand, if you want to avoid the hustle and bustle of large cities, you can easily find a renovation project in any of numerous little villages. Here, you will be surrounded by the sea and nature instead of buildings and people.
Furthermore, another thing you have to know before buying a property is regarding the weather. Even though it is a Mediterranean climate, it can get really cold, so it is a good idea to inspect whether your potential new home is equipped for the winter and occasionally harsh weather.
Since you are probably a foreigner and know little about properties in Malta as well as laws, it is better to start your search online. You will probably find a few houses or apartments, depending on your preference, that you are interested in and are within your price range. Then, you should hire a professional real estate agency that will help you find the perfect estate such as www.remax-malta.com. On their website, you will find numerous homes in both Malta and Gozo which is the second-largest island.
We are moving on to some legal issue. As already mentioned, Malta’s law probably differs from your home country’ law so there are a few things you have to know. If you haven’t been living on Malta, you will require the Acquisition of Immovable Property Permit (AIP). If you are of European nationality you will have to apply for this document that will allow you to buy a property which will then be considered your secondary residence.
However, if you are of non-European nationality, regardless of how long you have been living on Malta, you will still have to apply for this permit. Again, this is something you will probably need help with so it is for the best to ask your real estate agent or hire a lawyer.
To conclude, these are some basic things to consider when buying a property. As you know this process can take a lot of your time and patience, but in the end, it will be worth the trouble.