Buying Property in Malta and advantages of Homes Property on the Island of Malta

Compared to other countries, Malta is known to have a not so fast pace of life as well as a warm climate all round the year. These two reasons should make people who enjoy serene environments want to buy property and settle in Malta. Unlike other countries that are known to be crime infested, Malta does not have a high rate of crime and this is good news for investors as well.

homes in Malta may just be the best idea because the country has links with countries like mainland Italy, Sicily and Tunisia. This means that one can travel to any of the three countries comfortably by ferry. If one wants to settle in Malta with their family they do not have to worry about their children’s education as the system is excellent. Beautiful beaches are another reason why one should buy property in Malta as they can enjoy the beautiful scenery and enjoy swimming now and then. Properties for sale in Malta can be rented as well for a whole year. Since Malta is now a member of the European Union, there will be more investment in the country and this is good reason for one to want to buy land in Malta.

Malta is also famous for being a low tax country and this is especially good for people who want to make investments in Malta. This does not only apply to the businesses taxation burden but also to the personal taxation burden. Anyone who buys property in this country also gets residency and this means that the taxation laws will work for them as well. Since people move to live in Malta for different reasons, it means one can have quite a reasonable potential client base to deal with. There are also different types of properties to be bought in Malta.

Such properties include villa properties, town houses and off town properties such as apartments. Commercial properties are also available for investors in Malta. Such properties include retail properties, ware houses, office and offices. One can choose to either buy or rent property in Malta but it all depends on one’s needs.

All citizens of EU Member States can buy their first property in Malta knowing full well that they have no actual restrictions. Permits are not required in most cases and when they are they are easily issued to all bona-fide purchasers without any major requirements. The benefits of buying property in Malta are numerous. Firstly Malta boasts of a temperate climate and one can enjoy outdoor weather for several months of the year.

The position of the island situated in the hearth of the Mediterranean Sea makes buying a 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 service the island on a daily basis. If one decides to change property in Malta then resales of property is allowed. You can rent out your property to third parties though some limitations do apply. Repatriation of full resale price, including profits after taxes, is allowed without complications; Home loans are available for property purchase 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 wish from the local banks within the established commercial conditions. Ultimately buying a property in Malta does make sound sense seen from all angles.

Once someone has decided on the property they are buying in Malta, and price and conditions have been agreed, a preliminary agreement (convenium) is signed between the vendor and purchaser. This agreement binds both parties to sell/purchase the immovable property under the terms and conditions agreed upon. The signing of the final deed is, however, always subject to good title being proved and the issue of any relative permits to purchase. The agreements when buying homes in malta are generally always written in English.