Buying Property in Malta

Estate-agent-shows-a-hous-008.jpg

Buying Property in Malta

To obtain an indication of the types of properties available for sale, we suggest that you browse through the selection of properties listed on our website. This list is not exhaustive and we strongly suggest that you get in touch with us for further lists and assistance.

We ensure that details on every one of the several thousand properties listed on our database are updated promptly, while new properties coming on the market are uploaded daily. Once we know what your budget and requirements are, we can proceed to show you a choice of properties which we believe will suit you. Should you so wish, we can sort out your accommodation here in Malta or Gozo for the duration of your stay, and organise your inspection visits to your choice of properties

The signing of the final deed is, however, always subject to clear title and the issue of any relative permits to purchase, if necessary. The agreements and contracts are written in English. On signing the preliminary agreement, a sum equivalent to 10% of the price is lodged with the agent or notary public as stake-holder. This deposit will be forfeited in favour of the vendor should the purchaser fail to complete the final deed of transfer for no valid reason at law.

The agreement is usually valid for three months (term prescribed by law) or as mutually agreed by the parties. During the period between the signing of the preliminary agreement and the signing of the final deed of sale, a Notary Public engaged by the purchaser will carry out the necessary researches into the property to confirm good title, as well as submit the application for a permit to purchase, to the Ministry of Finance if such permit is necessary.

Once the relative permit has been issued and researches have proved clear title to the property, the final contract of sale may be entered into - the deed of sale being drawn by purchaser's Notary. The balance of the purchase price and Stamp Duty plus legal expenses are paid on the signing of the contract when vacant possession to the property is handed to the purchaser.

 
Calculating Purchasing Costs

Expenses related to the acquisition of property include:

  • 5% stamp duty;
     
  • 1% notarial fee (approx.);
     
  • €600 searches and registration fees (approx.); and
     
  • €233 AIP permit fee (where applicable).
     

 

These costs are the liability of the purchaser, while agency fees are borne by the vendor.