Real estate investment in a foreign country is the result of long reflection and real knowledge of the land and the legislation. Between the type of property and its location, prices can vary exceptionally, and sometimes, without any logic for the neophyte.
Houses of character
The houses of character, built over 100 or even 400 years ago, are located in the heart of typical Maltese villages. This type of property is particularly attractive due to its incomparable architectural richness: Baroque facades, rooms adorned with stone vaults, wooden beams most also have the mythical Maltese balcony “Bow Window”. For more freshness, the character houses have few windows, the light is however generated by skylights or central courtyards.
Gozo is an island less developed than its big sister Malta, it is renowned for its rural cultural atmosphere and retirees appreciate it for its tranquility and authenticity. The main city of Gozo is Victoria, it is sometimes called Ir-Rabat (not to be confused with Rabat in Malta) it has two interesting points in terms of real estate: Xlendi and Masalforn. When it comes to the Gozo real estate then the following options are open for you. Also you will also be able to understand why people are so keen in buying properties here.
From studios to penthouses, there is something for all budgets and for all tastes;
Renting is a common practice in Malta, and you too can become a landlord for the purpose of renting the property;
They have excellent profitability, two to three times greater than rental housing;
They are intended for entrepreneurs and the liberal professions;
The boutique hotels
These are small hotels with generally between 10 and 30 rooms, an investment with great potential;
Malta is a small archipelago and the environment is protected in many places. It is becoming more difficult today to find building land, due to lack of space, but there are always possibilities.
On the budget side, it really depends on you, your savings and the kindness of your banker. It is quite possible to find a very attractive house with character for sale in a typical small village at around 130,000 euros. In cities, prices are higher, especially in popular places like St Julian’s or Sliema. For a luxury property, prices soar happily, sometimes reaching dizzying heights: 5 million euros and much more. Now that there are a fewer properties for sale in Gozo left, most are hurrying up.
If you have worked in the Maltese territory, it is possible to obtain a mortgage in Malta. It can be up to 90% of the price of the property if it is your main residence or 65% if you plan to rent it. This is mainly intended for residents, since the banking establishment requests guarantees.
- With over 300 days of sunshine a year, a growing economy, a good quality of life and security, Malta proves to be the ideal place to live or invest in real estate properties.
- Revisited to today’s tastes with very modern fitted kitchens, they are very comfortable, while having kept their authenticity.
- For a lower budget, the “Farmhouses” (recently renovated farmhouses) and the “Terraced house” (typical townhouse with floors) easily compete with houses of character.