Real Estate Property in Malta

Malta is a true Mediterranean island paradise,. The idyliic beaches and fun vibes make expats flock to Malta, leading to a boom in the economy. Read this article to understand your best optuin to live in Malta.

Malta is made up of three islands with a history that goes back thousands of years. It is believed that the prehistoric site of Ggantija in the sleepy sister island of Gozo is the oldest man-made village in the world, so the Maltese deserve their reputation as true homemakers.

Property in Malta

Malta’s traditional homes are built out of limestone, which is ideal for keeping homes cool in summer. The modern developments are built out of concrete breeze blocks and come with all the mod cons that people look for in homes today.

Housing is quite cheap, whether it is a traditional townhouse, a farmhouse, or a modern apartment in a serviced block. Public transport is well developed, and you are never more than a stone’s throw away from a bus stop and all amenities.

Traditional Home or Property in Malta

If one is looking for a traditional flavor building, one would have two options. Either purchase an unconverted property which can then be designed based on the client’s choice. However, one would have to keep in mind that village core properties usually fall within urban conservation areas. Hence the exteriors cannot be changed and one would have to keep the original façade.

If that sounds like too much effort, then one could look for a property that has already been expertly converted.

House of Character or Modern Property?

Malta is a hotchpotch of development, which lends to its unique character. You can find apartment blocks in traditional villages as well as in the trendy seafront resorts, which overlook the rocky foreshore and the sea.

Valletta is another option with luxury apartments and palazzos with commanding views overlooking the Grand Harbour.

Property transactions in Malta are normally brokered by real estate agents, who will charge a commission to both the buyer and the seller. There is no shortage of them, given that the market is so active. One could also deal with independent agents, known locally as sensara who charge a lower commission rate.

Renting or Buying Real Estate?

If one is relocating to Malta on a fixed contract, one may not want to shell out on owning a property and opt to rent instead. Getting property on rent in Malta is easy and not that expensive. It is, of course, all about location, and the further away one is from the urban centres and cosmopolitan areas, the cheaper the rent would be.

Rental housing in Malta normally comes furnished. The standard rules apply – inventory and one month’s rent in advance as a deposit against damages or rent default which is refunded by the landlord once the tenant vacates the property.

Shared rentals are also an option, but these are rarely brokered and normally one would have to make one’s own arrangements.