Buying an apartment in Malta....please advice

is it true that we can't buy an apartment less then 100,000??
pleaaaase neeed ur urgent heeelp

Hi SlovesH,

welcome to the forum.

as a Libyan citizen you will need an AIP permit to purchase property in Malta and it will have to cost more than 98.000 € unless you buy a property from one of the specially designated areas.

But it would be very, very difficult to find a nice property for less anyway!

In fact I would not even buy a property in Malta at the moment. The prices are very high and most probably bound to fall sometime in the future when market condititions finally find there way to Malta.

Cheers
Ricky

SlovesH wrote:

so please expats there help me in deciding if it's a good investment

massive oversupply of property, so no I don't think it is a good investment

what citizenship do you hold ?

cheaper to rent first anyway to identify an area where you would wish to live permanently as properties often take on a different view/personna once you live there. and as george has said its not a good time to invest in property now as its likely to be that way for a good while...over production of properties, most lying empty but that doesnt mean they will be sold at the price you would expect...i would rent and wait for a while to see how the markets go - hang on to your cash.

hii all

many thanks for you oxoxox
my husband is Canadian and really we're looking to have a nice home for our resident more then thinking of selling it may be after 20 years i'll think of selling it! @@
soo u thing the market is little bit higher?
please help me guys all i know about Malta is my last visit to it, San gilian Valletta Slima and mdina ....give me best areas or streets for a small family... the price we decide to buy in the range of 80 to 125

georgeingozo wrote:

what citizenship do you hold ?

my husband is Canadian

ricky wrote:

Hi SlovesH,

welcome to the forum.

as a Libyan citizen you will need an AIP permit to purchase property in Malta and it will have to cost more than 98.000 € unless you buy a property from one of the specially designated areas.

But it would be very, very difficult to find a nice property for less anyway!

In fact I would not even buy a property in Malta at the moment. The prices are very high and most probably bound to fall sometime in the future when market condititions finally find there way to Malta.

Cheers
Ricky

thank you but what do you mean of : specially designated areas.
you mean new projects and building
like what?

toonarmy9752 wrote:

cheaper to rent first anyway to identify an area where you would wish to live permanently as properties often take on a different view/personna once you live there. and as george has said its not a good time to invest in property now as its likely to be that way for a good while...over production of properties, most lying empty but that doesnt mean they will be sold at the price you would expect...i would rent and wait for a while to see how the markets go - hang on to your cash.

yah i think it's a good idea, and we really think of it but how to know which areas!

As you are non EU citizens, permit required for buying


The permit will be issued usually within 6 weeks, under the following terms and conditions:

a) The value of the property purchased must be above €104,510 in case of Apartments/Maisonettes and €174,132 in case of houses. These values are index linked. You can buy below the limits if the property is in shell or unconverted forum, and can produce an architect's certificate showing that the property requires additional costs, which bring it to the level of the threshold to make it habitable. (these figures might be a year out of date)

b) The property has to be used solely as a residence by the applicant and his family. This condition will be waived if the applicant obtains a permit to rent the property.

c) The immovable property purchased may not be sold or otherwise converted into more than one dwelling house.

There are some areas exempt from the permit system, called "special designated areas", where there are no restrictions on the value or the number of properties a foreigner can buy, including non-EU citizens

these areas are

Portomaso, St. Julian's, Malta
Cottonera Development, Cottonera, Malta
Manoel Island / Tigne Point, Tigne/ Gzira, Malta
Tas-Sellum Residence, Mellieha, Malta
Madliena Village Complex, Malta
Smartcity, Malta
Fort Cambridge Zone, Tignè, Malta
Ta' Monita Residence, Marsascala, Malta
Pender Place and Mercury House Site, Malta
Metropolis Plaza, Gzira, Malta
Fort Chambray, Ghajnsielem, Gozo
Kempinski Residences, San Lawrenz, Gozo