Properties

With a thriving real estate market over recent years, Malta has attracted a lot of interest from foreign nationals – so much so that the market has changed drastically. There has been an increase of luxury property developments catering for business owners moving to the islands, and investors looking for lucrative luxury real estate investments. Luckily, this expat guide will help you with all you need to know about buying property in Malta – a country where foreigners are increasingly tempted by the prices and low tax rates, as well as a relatively smooth purchasing experience.

Making sure that you have the correct expat insurance in place can be a tricky business at the best of times, never mind when you are an expatriate in a foreign country. Expats in Malta need to check that they have enough cover in place to protect everything they might need whilst balancing this against the potential for being over-insured and therefore paying out too much for cover. As such when purchasing cover it is important that you shop around and perhaps check any existing policies that you might have already at home to check you are not choosing cover that you already have in place.

Buying property in Malta is a relatively straightforward process and starts with the signing of a contract known as a konvenju (promise of sale). This is basically a preliminary agreement that commits both the seller and the buyer to a specific time frame to finalise the sale, subject to certain conditions.