What You Should Know About Flats For Sale in Malta
Whether you want a studio flat or a luxury apartment, the Maltese property market has something for everyone. Malta is a small island in the Mediterranean Sea and has a thriving real estate market. The property market has been steady in the past couple of years, before the global health crisis, but it’s expected to pick up speed when the economy recovers.
One of the advantages of buying property in Malta is the tax system. The country has a particularly generous tax system for foreigners, who don’t have to pay taxes on their foreign-sourced income and capital gains. In fact, the Malta tax system is especially beneficial for foreigners with residential status in the country. You can also qualify for the Citizenship by Naturalization scheme, which can give you a Maltese passport in 12 to 36 months.
Malta is a great place to live if you want to experience a rural and relaxing lifestyle. There are several villages in Malta that are full of traditional Maltese architecture and offer a peaceful and quiet lifestyle. The island’s landscape is also full of natural bays and coastal villages. Malta’s coastline consists of rugged cliffs and long sandy beaches. These beaches are ideal for swimming and outdoor activities.
Malta has several towns and cities, each of which is steeped in history. These towns have many churches and chapels to visit, and locals are open to guests to see the religious sites. They also have a wide range of restaurants, clubs and nightlife.
There are also many historic houses and villas for sale in Malta, which are popular with foreign buyers. These include traditional Maltese houses and villas, as well as historic buildings that have been converted into apartments. The flats for sale in Malta country also has several modern apartment developments that are popular with affluent international buyers. These apartments are located in prime locations, such as close to the beach or promenade.
For foreigners looking to buy property in Malta, you should hire a lawyer to handle the legal aspects of the sale. You should also apply for a Malta AIP permit. This permit is required before you can buy a property. It will cost you around $600 and takes about 35 days to process. You can apply online.
For foreigners who have purchased a property in Malta, you should also hire a notary to handle the legal aspects of the sale. The notary will conduct necessary searches to ensure that you own the property and that it has a legal title. The notary will also help you negotiate the terms of the sale.
Apartments in Malta can range from studio flats to large 7-bedroom apartments. They can be found in older buildings or in ultra-modern developments in Special Designated Areas. Buying an apartment can be a great way to start your property ladder.
Many foreign buyers buy old farmhouses in Malta. They then decorate them in a retro style. These properties can be purchased with low interest rates and are a profitable investment. Buying property in Malta can also be a great way to qualify for Citizenship by Naturalization.