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Why investing in Malta?
Malta real estate property. The Republic of Malta (usually shortened to Malta) is a small and densely populated island nation consisting of an archipelago in the middle of the Mediterranean Sea. Although Malta geophysically constitutes a part of North Africa — lying on the African continental plate directly south of Sicily, east of Tunisia and north of Libya — the country is geopolitically part of Southern Europe. The Maltese language is the only Semitic language of the Afro-Asiatic language family native to a geopolitically European country. These strategically located islands have been ruled and fought over by various powers over the centuries. Malta is the smallest EU country in terms of both population and area. Malta has many museums, shops, beaches, and leisure activities in a densely packed area. It is a well-known popular vacation destination among Europeans. The good news here is that when you resell the property you may repatriate the full sale price (including any profit). In Malta, a villa of 150-200 square meters in a luxurious location it may cost over 450,000 Euros. In a less luxurious location the price will fall to under 160,000 Euros. 120,000 Euros will be paid for a town house. When buying property in Malta, there are additional costs such as: Duty on documents - 5% percent of the whole price, Notary fees - 1% and 200 Euros for the Ministry of finance. Purchasing property on the Maltese Islands If you decide to buy a property in Malta there is a preliminary agreement to be signed by both parties in the presence of a Notary Public chosen by the purchasers. This agreement binds both parties to buy/sell an immovable property under the terms and conditions agreed upon. Usually this agreement is written in English. A 10% deposit of the contract price is required. The value of the property purchased must be more than LM30000 for an apartment and LM50000 in case of a house.
