Buying property in Malta as an Investment

by ICON

If you are planning to invest in buying property in Malta, you should be aware of certain factors. In Malta there are certain restrictions on what kind of property a foreign national can purchase and what they can do with it. A foreigner can buy one piece of residential property which they can use as their primary residence or, as a holiday residence when they visit the place. The property bought cannot be rented to anyone else.

For a foreigner to be able to buy property in Malta there is a minimum price to be paid for an apartment as well as for a house or a villa to be able to obtain an AIP (Acquisition of Immovable Property) permit which is granted by the Ministry of Finance and usually takes some 6-8 weeks. These prices are € 169, 205, for a house or villa and € 101, 551 for flats or maisonettes.

While buying property in Malta there are a few conditions one must abide by. The estate which the foreigner is willing to buy should not be valued at less than 1, 16,468 euro. Moreover, the fund for buy the property in Malta should be brought in from outside the country.

Despite the restrictions, the serene beauty of the Maltese islands draws people from all over the world. Some of them want to buy the property in Malta and relax amidst the exquisiteness of nature for the rest of their lives, while some tourists invest in property simply for vacations. The island is small but boasts much character. From different historical places which hold testimony to the various cultures that visited Malta to luscious sandy beaches under the blue sky, to lots of mouth-watering food- Malta has all the ingredients to keep the tourists coming back for more. Some visitors plan to buy the property in Malta as their chosen retirement location.

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