Buying prperty in Malta

obviously the minimum depends on your needs and requirements.

Hi

Thanks

The minimum investment Im referring to is what the Maltese government states?

I would be looking at something in the region of 100k

For what? To obtain a passport or what purpose? There are a few programs that need investment

Pretend we can't hear your thoughts and give all the details.

Look at Frank Salt web site  very helpful, ive just bought an apartment, & they really helped me.

I would not rush to buy a property in case you do not like living in Malta, it's advisable to rent first.

Obviously there can be a wide variation in cost depending on specifications and locality, added to which it will depend if the property is in "shell" form (basically still a building site, "finished" lacking internal doors and little things like kitchen and bathroom fittings and "highly finished", which is more loke we would expect in the UK. Buying a second hand property, you will get the above, but beware of the standard of fitting, as I have found that little things like U bends were missing letting sewer gas to blow back into the apartment and a host of barely protected electrical wires hanging out of the walls, all of which is now almost fixed (still waiting to dump the jaccossy and get a shower unit delivered of a size larger than ter requirements of an annorexic pygmy). All said, I seem to have got off lightly at 158000 Euros, but remember that below 150K you pay 3.5% tax and 5% on anything over that, so vector this in to your cost ananlysis. I have not been here long, so others can probably give you more info on this.
Another thing, use local knowledge, as some area really are best avoided. A couple of months back we had a  "businessman" blown up in his car, reportedly by a "business" rival.

The key here is that he says:

"The minimum investment Im referring to is what the Maltese government states?"

ie. this is not just about buying some place, its about something like the various reseidence/passport by investment schemes.

Hello,
If you declare that you intend the property to be your permanent residence (eventually) there isn't a minimum spend as the AIP permit doesn't need to be applied for. If it's officially to be your second residence then the minimum spend required is just over €100,000 for a flat or maisonette (more for a house).
Let's just say choose your Notary carefully if you want a liberal interpretation of this law!
We are in the process of buying our fourth consecutive property in Malta so please feel free to message me for help! We have been through the all the ups and downs four times over !

Helen

the price depends mostly on location.   Depending what you are looking for, Gozo is lovely and still relatively well priced.  However, it might be too isolated for you.  Look at Zanzi homes, they will help you with everything.  I also agree with the person who suggested you look at living in Malta for a while before deciding.

We are already close to high season, when  renting a place is getting more expensive.  Short lets come at a very high price , and long term lets will involve deposits etc.  I suggest you find a 'temporary' place on Airbnb and go from there.   Good luck!

From your question I think you are asking 'is there a minimum you have to pay to buy a property'. 
My recent experience is the property you intend to live in, your 'ordinary residence' has no minimum price.  As an EU national, as long as you have lived in an EU state for the previous 5 years, you are allowed to buy a property in Malta unhindered.  However, if you intend to buy a second property you must apply for an AIP (Acquisition of Immovable Property) certificate from the Inland Revenue.  This cost me €233 and allows you to buy a second property.  A second property must be over approximately €105,000 and there are conditions attached to buying it.  You cannot let it for 5 years and I think you also have to own it for 5 years as there may be penalties to pay if you sell it.  As somebody else has posted, get a good Notary - ask other people for recommendations - as they need to be aware of how the legislation applies to foreigners.
Check out the Malta Government website for full details of buying a house but make sure the webpages have been updated.

volcane wrote:

The key here is that he says:

"The minimum investment Im referring to is what the Maltese government states?"

ie. this is not just about buying some place, its about something like the various reseidence/passport by investment schemes.

Maybe, maybe not. It is possible this is as a result of an internet search, with English or Maltese not being the first language and therefore a misunderstanding. If you don't ask the right question, you won't get the right answer.

I have sent a pm.

Aytnic wrote:

I have sent a pm.

I would have thought they had found the answers by now as the question was asked in February.