Malta has always had a huge appeal to foreigners wishing to take up residence or simply buy a holiday home or investment property. The property market is extremely well established. It is a strong market and a very stable market offering good long term prospects for growth due to a number of factors, limited supply being a crucial one. Rental returns are also very good. Of course, the Islands offer a great lifestyle in an EU member country right in the heart of the Mediterranean.
As a company we therefore promote Malta quite extensively overseas and a very common question is what Malta offers in terms of the types of properties for sale.
The most popular type of property and the most commonly purchased type of property would be apartments of course. Most foreign purchasers are often pleasantly surprised by the generous accommodation that most apartments offer. Although we live on a relatively small island, we like our space and most apartments offer comfortable, bright accommodation. Apartment buildings would most commonly vary between two storey blocks and 9 storey blocks. Units with terraces and either sea or country views are obviously the most sought after. Besides these smaller stand alone blocks, we can also offer apartments within larger complexes that offer extra facilities like communal gardens and pools, perhaps a marina, a car free environment and restaurants, supermarkets and other amenities on site. These developments are generally called Special Designated Areas and they offer better conditions to foreigners wishing to purchase property in Malta, such as no requirement for a permit to purchase (AIP permit) and the ability to purchase a number of units. Most of these larger complexes often enjoy very popular, prominent locations. The quality of build and finish is often extremely high in all newly built apartments.
Also extremely popular are what are known as Houses Of Character. These are converted farmhouses or old Palazzos where the old character and charm of the property as well as all the lovely architectural features such as old stone staircases, arched ceilings, etc. have been retained and the house has been modernized to offer all the modern finishes one would expect. Common and popular features would be a sunny central courtyard, thick stone walls, flagstone floors, lovely barrel vaulted entrance hallways and at times large gardens with pools. These houses often have beautiful old limestone walls that have been exposed. They make lovely homes and most are located either within the villages towards the centre of the island or out in the countryside.
Terraced Houses and Town Houses are also available of course. These would be houses in a row having neighbours on either side and usually having small front gardens and back yards or gardens. Sizes vary and Terraced houses offer a very practical solution to people who do not wish to live within an apartment building, and yet do not want a very large house or villa. The older terraced houses are known as Town Houses and these are often identified by their wooden enclosed balconies on the façade of the house. Town houses often have beautiful old curved stone staircases and traditional Maltese patterned floor tiles.
Last but definitely not least, we can offer an excellent selection of Detached or Semi-Detached Villas or Bungalows. These would be built on plots of land generally ranging from 300 sq metres to several thousand sq metres. The most common size though for a semi detached plot would be 500sqm and for a detached villa plot around 1000sqm. Villas can be purchased in a number of locations throughout the Islands and these are generally very good upmarket locations. Naturally, many of these properties come with swimming pools and there is a huge variety of styles from the more classical older properties to more modern contemporary designs with all the latest finishes.
There is of course too much of a variety to cover in a short article and the best way to appreciate Maltese homes and architecture would be to visit the various homes on offer.