The property market in Malta has changed significantly over the past decade. If you had visited Malta 10 years ago, you would have noticed mostly terraced houses in villages, with tall buildings in the more urban areas of Sliema and Saint Julian's.
Nowadays, many things have changed and the type of property in Malta has increased significantly with much less low rise buildings in favor of super modern high rise ones.
The economic boom that started around 2015 brought about an increase in population due to inward migration together with an appetite for property investment. For this reason, some traditional houses made way for multi floor buildings with flats that accommodate the increased number of residents looking for a home on the island.
Properties in Malta can include apartments, townhouses, and villas.The most expensive properties are found in popular areas, such as Sliema and St. Julian's, while more affordable properties can be found in the south of the island. Malta also offers a number of new developments and off-plan properties for those looking to purchase a new home. Nowadays buy apartments in malta got expensive since the arriving of igaming companies offering high salaries to their employees.
If you are also interested in investing you can choose from the following types of malta properties:
MOST POPULAR:
Terraced houses
Maisonettes
Penthouses
Duplex
MOST COMMON:
Townhouses
Flats or apartments
Pet-Friendly
Studio flats
LUXURY:
Houses of Character
Farmhouses
Villas
Bungalows
OTHERS:
Garages
Offices
Commercial Property
It may be a minimum of a row of three but there is no upper limit as to how many houses are in the terrace. The end of terrace houses may differ in design and size but will be in keeping with the style of the whole row.
Generally, terraced houses for sale have at least three bedrooms and have a square meterage of 100+. Terraced houses to rent are popular with families.
Maisonettes may all be on one single floor, but you will also find duplex maisonettes, some of which have roof access, so you gain the advantage of outside space.
Penthouses may be of any size from a studio flat to a multi-bedroom apartment and may also be a duplex design. They might also have outdoor space either as part of the design or via access to the roof. Some may have space to convert to single storey flat into a duplex or room for a pool.
The most accepted definition is that a duplex is two homes attached to each other, each with its own separate entrance. However, you will also find the term applied to flats and penthouses which are built over two floors.
A duplex is usually larger than a flat so are good for larger families or a couple looking to expand their family.
Although there are a few examples of these, townhouses are more commonly detached properties. Mostly, they were constructed 200-300 years ago and are usually in the older part of the town or village. If you are going to buy one, look for original features and, as a family home, an enclosed garden is a bonus.
Buy a flat and you have many options, except they will always be in urban areas rather than rural locations and villages. This is equally true for flats to rent in Gozo.
The space may be divided to give the semblance of rooms and the bathroom is usually a separate room off the main area.
A studio is good for a single person or couple and many people look to buy a studio flat in Malta as their first step on the property ladder. If you are a single person looking to live alone, renting a studio flat is generally the cheapest option.
But it isn’t exclusive. Non-rental properties may also have clauses where pets are not welcome. It’s not very common but blocks of flats may prefer that you are a pet-free owner.
If you have a pet, it is best to always look for pet-friendly properties in Malta and if it isn’t specified, you should certainly establish if there are any conditions.
They are older properties – usually dating to the 18th and 19th centuries - and many have been snapped up by developers and been renovated and refurbished, but you may be lucky to find a rare gem in original condition.
If you are looking to rent a house of character, you should be prepared that there might be a premium because of the special features.
You can buy a villa as your family home or if you’re very lucky to be able to do so, buy a villa as your own holiday home you can escape to at any time.
Villas are standalone houses usually with a surrounding garden and in a rural location and they can be of various styles. Villas are good properties for a buy to let investment because there are plenty of people who want to rent a villa.
Bungalows in Malta enjoy various styles and may be detached or semi-detached and may also fall under another property type such as villa, farmhouse, or house of character. Some have been extended, with the roof space being made into rooms with the addition of dormer windows.
You can find bungalows for sale in Malta and Gozo and there are sometimes rentals available.
Many have had their potential realised and have been developed to make them suitable for the demands of modern living, so you get a beautiful house with plenty of interesting features as well as all mod cons.
There are good reasons to rent or buy a garage. You might need a garage to park your car because you live in a street where parking isn’t possible. You might be a two-car family and only have space to park one car. You might be a tradesperson and need somewhere to safely lock up your van and equipment. You might need storage space for your business.
If your need is permanent, rent a garage. If it’s long term, it makes sense to buy. Garages are found in various locations, so it’s a case of finding one that is most convenient.
Making the right decision for your office is important because it can be a key factor in the success of your business. The positive aspect of offices is that there is an excellent choice. You could be able to buy an office that fits your needs in terms of location, size and budget. And there is an equally good choice if you are looking to rent one.
Whether renting or buying, check the square meterage of space and check the floor plan to ensure that it is conducive to your needs. If you are an expanding business, certainly consider if there is space to accommodate new staff/operations.
Property is defined as commercial if it is used for any purpose that generates a profit or gain. There is a huge range in Malta and indeed, MEPA, the Malta Environment & Planning Authority has defined 19 different “classes of use”. This is important to remember if you buy commercial property as you may have to go through a legal process if you want to change the class of use. You may also want to have a look at the Planning Authority Listings.
If you’re looking to rent one, it is best if you find a property that is fit for purpose as it probably isn’t a good investment to make major alterations to a rental property.
Whichever type you choose to look for, you will also have to decide whether to buy directly from a owner/developer or use the services of one of the estate agents. You will find a number of sellers who wish to sell theirs without using a real estate agent.
There are also a number of developers which will show you detailed plans of projected flats and penthouses, some of which could be already in the construction stage with a planned finish date.
Alternatively, you may opt for the help of real estate agents who have a good knowledge of the local property market and can help you find what you are looking for in return of a commission on the selling price charged to the seller.
There are a number of fees in addition to the mortgage. You have to make sure you have the income to cover other expenses such as taxes, notary and architect fees, common parts fees (in case of a block of flats) and insurance. Verify all the information described in the listing. One issue that might crop up with furnished homes is what is going to stay with the home and what is going to leave with the previous owner. Above all, do not make any hasty decisions. If you are not convinced after a first viewing, ask for another one or keep searching if you cannot see yourself in that property.
Also be careful when renting a property as there is not yet a Maltese government agency that protects tenants from landlords who withhold the deposit for no reason.
Malta Environment and Planning Authority (MEPA) Applications