Properties in Malta have long appealed to overseas nationals. This is not just because of the Malta’s intense Mediterranean climate, but also owed to the country’s tax-efficient status; Maltese residents enjoy one of the lowest levels of income tax in Europe. The Maltese property market has registered great interest from property buyers from countries such as the UK, Scandinavia, US, South Africa, Australia, and many other European countries. This high level of International demand for property coupled with a constant local demand for real estate has kept real estate prices constantly on the rise for the past two decades. Prices are still very stable albeit the international financial crisis.
So what kind of property is mostly on demad? - From villas and apartments, traditional houses of characher to farmhouses, the beauty of propertty in Malta is that it is so varied. When buying a new home, look out for features that will ensure that a home will also be easy to resell and will maximize on appreciation potential.
Apartments come in all shapes and sizes. Apartments in Malta remain attractive choices for foreign nationals buying a property in Malta. More so, apartments in high-end developments such as Tas-Sellum, Portomaso, Tigne Point, Fort Cambridge and Pender Gardens to name a few. Such developments offer immediate proximity to the island's business and commercial centres and all modern luxuries and amenities. The most important things to look out for would be:
- The quality of the building and the state of the common parts
- The vicinity to useful amenities
- An outdoor space that allows you to sit out comfortably, possibly fitting a table and chairs
- Open views. Whilst seafront is ideal, being able to see country or sea views is a big plus, even if at a distance
- Natural light
- A square layout and/or wide frontage
- Unless located in an area where parking is really not an issue a garage space for at least one car is an important factor
Houses of character are always popular and make lovely homes. Houses of character are mostly found in old village cores up the winding alleys or in the most rural areas of the island. When buying a charcter homes look out for the following:
- Old features that are still intact such as mangers, flagstone floors, arches, niches, etc
- A large airy courtyard
- A garden is a big plus especially if it fits a pool
- Privacy from neighbouring properties
- Quality of stonework. Try to choose a house that has stone that is not crumbling
- Parking, either in the form of a garage or street parking
- Try to avoid interconnecting bedrooms
- A mill room is a big plus!
Terraced houses very often offer similar accommodation, so distinguishing features that set a home apart from all the rest would ensure easy resale and good capital appreciation. Try to look out for:
- A larger than normal yard. The minimum allowed at law is ten feet normally
- A living room apart from the sitting/dining room
- A different/interesting layout such as a staircase that is not directly in front of main door
- Basement and garage
Villas and Bungalows again vary widely in size and there are many options to suit all budgets. However, look out for:
- An interesting and convenient layout and a design that offers lots of natural light
- Frontage – normally the wider the frontage of the plot, the more exciting the layout of the villa
- A garden. Size of garden determines value to a large extent and ideally this should be able to accommodate a pool and deck area comfortably.
- Views. Most villas and bungalows do not have the luxury of a view, so this is a big plus
- Quality of neighbouring properties. It is pointless having a state of the art villa if all the neighbouring properties are of a much lower standard – they will keep the value of your house down.
The above is not an exhaustive list, but it can act as a good indicator of what one should look out for when purchasing a property. Whilst keeping in line with one’s budget, always try to get the absolute maximum out of what you can afford.
Guidance from a trustworthy, experienced and professional agent is imperative when trying to find your new home in order to firstly make sure you find the property with the features you are after and secondly with the maximum investment potential.
Real Estate Malta
Buying a Property in Malta