Before buying property in Malta, it is important to understand the legal procedure. A buyer can only buy one property in Malta, though in certain areas, individuals may own multiple properties. After selling their first property, individuals may acquire another one. They can apply for permission to buy another property with the Ministry of Finance, which usually grants them approval provided the first property has been sold. In general, individuals from the European Union may freely purchase more than one immovable property in Malta.
When buying property in Malta, international buyers can choose from a range of styles and price ranges. They can select a traditional palazzo or a modern, luxury apartment. Malta’s special designation areas feature high-rise apartments and luxury villas. In addition to luxury homes, Maltese properties come with a rich historical past. The country’s unique culture also makes it a desirable place for foreign property investors.
Non-EU citizens can buy a single property in Malta without acquiring a residency permit. After five years, they can buy two properties if they wish to invest in a business or purchase a property for their primary residence. Foreign citizens can purchase as many properties as they wish as long as they are residents in Malta for five years. The rules regarding foreign property acquisition are different for each nationality. If you are not a Maltese citizen, you must obtain a permit.
If you are looking for a place to raise your family, consider purchasing a property in Malta that is near an international school. Maltese schools are bilingual, which makes them an excellent choice if your children need to attend an international school. For expat families, English is the official language, but public schools also use Maltese as the medium of instruction. However, if you are looking for a home in Malta for personal use, consider a property located in a quieter area.
Leave a Reply