Buying a property in Malta

All citizens of the EU Member States can buy their first property in Malta knowing full well that they have no real restrictions. In most cases, permits are not required and, when required, are easily issued to all bona fide buyers without further requirements. The benefits of buying property in Malta are numerous. First of all, Malta boasts of a mild climate and you can enjoy the weather outdoors for several months of the year.

The island’s position situated in the heart of the Mediterranean Sea makes buying property in Malta and living here accessible to Europe and the rest of the world. In fact, Air Malta, the island’s national airline, and other low-cost airlines serve the island on a daily basis. If one decides to change property in Malta, resale of the property is allowed. You can rent your property to third parties, although some limitations apply. Repatriation of the full resale price, including after-tax profits, is permitted without complications; Mortgage loans are available for the purchase of property by non-residents or non-Maltese citizens residing on the islands once permission is granted by the Central Bank of Malta, you can borrow as much as you like from the local banks within the conditions established businesses. Ultimately, buying property in Malta makes perfect sense from all angles.

Once someone has decided on the property they are buying in Malta, and the price and conditions have been agreed upon, a preliminary agreement (convenium) is signed between the seller and the buyer. This agreement obliges both parties to sell/purchase the property under the agreed terms and conditions. However, the signing of the final deed is always subject to proof of good title and the issuance of the corresponding purchase permits. Agreements when buying property in Malta are usually always written in English.

Persons who are NOT citizens of a European Member State may purchase real estate in Malta after obtaining permission under Chapter 246 of the Laws of Malta from the Ministry of Finance.