Top 5 reasons Americans are buying property in Malta in 2022
If you are looking to buy a property of any kind in a European country that is rich in culture and heritage, Malta should be on top of your list as it is for many Americans according to Frank salt Real Estate, Malta’s oldest and biggest property group.Stefano MclaughlinMay 10, 202295629 Shares1471213 Views
If you are looking to buy a property of any kind in a European country that is rich in culture and heritage, Malta should be on top of your list as it is for many Americans according to Frank salt Real Estate, Malta’s oldest and biggest property group. Owning property in Maltabrings with it an idyllic life in the sun, value for money and countless other benefits. Malta is extremely popular with expats as a property investment destination, acquiring a home for retirement purposes or simply to have that Mediterranean holiday home surrounded by azure seas, old world culture and traditions.
Malta, unlike many of its EU counterparts, experienced a buoyant property market during the 2008 financial crisis and also right through the Covid-19 pandemic. Malta real estate is legendary for defying the odds and delivering promising returns for homeowners when selling.
Maltese property can be bought by anyone, anywhere and you do not need to be a resident. You will however need an AIP (Acquisition of Immovable Property) permit that takes about a month to issue for a modest fee. You are only allowed to buy one property if you buy outside what is called a Special Designated Area, but the latter has no restrictions on how many you are allowed to purchase.
Malta has it all: vibrant nightlife, bars, cafes and restaurants, upmarket and chic shopping malls, warm weather year-round and crystal-clear waters, a temperate Mediterranean climate, history and culture…you name it. Depending on your choice of lifestyle, your options of accommodation range from houses of character and maisonettes found in many of the medieval villages to smart, high-tech designer apartments in high-rise tower blocks overlooking entire Malta.
Malta offers a plethora of residency options, whether you plan to retire to, work in or become a citizen of Malta. Numerous tax advantages are available to residents from other countries when settling in Malta due to double-tax treaties. Average taxes levied on foreigners are around 15% on income up to €5million. Income sourced from outside Malta’s borders (this includes capital gains) is completely tax-free.
If you become a resident or citizen of Malta, you gain automatic visa-free travel access to the entire EU block and Schengen zone. Malta’s international airport offers daily flights to all major European cities serviced by several international carriers. Most major centres like Paris, London, Munich and Barcelona are just over two and a half hour’s flight away while Rome is just an hour and a half by plane.
If you are eager to buy property in Malta and it is your first time coming to the country, our best advice is to come on an excursion and get a taste of what is on offer. Make contact with a reputable estate agency and the agent will take you on the “grand tour”, showing you the towns and villages, the beautiful yacht basins and marinas and the types of properties that will suit your budget and will definitely pique your interest! Many Americans, Canadians, British, Germans and even South Africans have made the move to Malta over the years and now enjoy the wonderful, full lives they have all dreamed of, something this tiny island nation offers in spades.