FINDING THE RIGHT PROPERTY

Once you’ve decided to move to Malta, you’ll set about finding the perfect property for you and your family, or the new headquarters for your business. But what will that involve?

• The cost of living in Malta remains lower than most European countries, but rent has become more expensive in recent years. You can expect to pay at least €1,000 for a flat in a central part of the island, and far more if it’s in one of the more in-demand locations such as Sliema or St Julian’s. Office or commercial spaces have seen less of a spike in prices, but as with homes, are largely dependent on location.

• Most people start their search through a property agency, of which there are countless ones on the island. Some specialise in commercial properties, others in residential. It’s worth noting that many properties are listed with several estate agents, so you may end up viewing the same property several times if you’re not careful.

• Once you’ve viewed a few different properties, settled on one that you want to buy, and your offer has been accepted, you will be asked to sign a promise of sale, known in Maltese as a konvenju. This is a legally binding agreement between you and the seller, and will involve a notary public.

• At this point you are obliged to pay 1 per cent of the 5 per cent provisional stamp duty. The total sum is payable upon completion of the sale. You will also need to pay a deposit which is usually around 10 per cent of the agreed sale price.

• You don’t need a permit to buy a house here unless it’s a secondary residence. But if you are not a citizen of an EU country, then you will need an Acquisition of Immovable Property in Malta by NonResidents Permit (AIP).

• You must also obtain a permit if you are considering renting your property as a holiday home, and any earnings must be declared to the authorities for tax purposes.

WHERE SHOULD I LIVE?

While Malta is a tiny island, slow-moving traffic during peak hours, reliance on private cars, and vast differences between one area of the island and another make it necessary to think deeply about what you want from your new hometown. Here’s a guideline of what to expect from different parts of Malta.

SLIEMA AND ST JULIAN’S

The natural choice for most expats. These two towns have a large expat community, an exciting social life, and are close to many businesses and places of work. However, they’re the most expensive addresses in Malta, and if you’re looking for a quiet place to settle down, they’re probably not it.

About Malta

Population

519,562

Valletta

The capital city of Malta has undergone a renaissance in recent years, and it is now one of the most exciting places to be. All buses end their journey in Valletta, so public transport to and from here is excellent. However, be prepared to pay – it’s not cheap. The neighbouring suburb of Floriana may have more reasonably priced options.

CENTRAL TOWNS SUCH AS BIRKIRKARA, ATTARD AND MOSTA

These towns are located in the middle of the island and have good transport links to most other towns and villages in the island. Prices are moderate, and they are mostly residential, perfect for raising a family.

Bu Ibba And Mellie A

Plenty of expats – particularly from the UK – live in these towns. Since both of them can be considered resort towns, it’s worth noting that they get particularly hectic in summer with the influx of tourists, but are much quieter throughout the rest of the year.

SOUTHERN AREAS SUCH AS MARSAXLOKK, MARSASCALA AND THE THREE CITIES

The southern part of the island is worth considering if you’d like to live in a charming, traditional village or town. Having your own transport becomes essential in this case, and learning at least a few words and phrases in Maltese will endear you to the local, closeknit community.

Gozo

Quiet, peaceful and with plenty of green spaces which Malta is sorely missing, the island of Gozo is accessible via a ferry that leaves Ċirkewwa every 45mins. Since the commute may be tiring to do every day, it’s perfect for retirees, people who are planning to work from home, as well as a holiday residence.