Real Estate Malta – A Great Investment OptionReal Estate Malta – A Great Investment Option
Real estate Malta is a great investment option for foreign investors. Besides being a profitable asset, it can also be a passport to the EU and give access to its excellent medical and education systems. In addition, real estate Malta is relatively cheap, ranging from EUR3,000 to EUR5,500 per square meter depending on the area and type of property.
Buying residential real estate in Malta is an easy process. Especially for non-EU citizens, who do not require a residence permit, the rules are very relaxed. In some areas, foreigners can even purchase multiple properties without restrictions. Those are known as Special Designated Areas (SDA), where the rules are more flexible and it is possible to rent out immovable property.
What is the property scheme in Malta?
In the first quarter of 2022, the number of new dwelling permits approved in Malta rose by 23.7% compared to the same period last year, according to the National Statistics Office. Most of those new dwellings are apartments, a popular type of accommodation among foreign buyers. However, there are also some traditional villas and elegant townhouses available, as well as charming farmhouses in the countryside.
The demand for Maltese real estate is supported by year-round tourism, as up to 3 million people visit the island yearly. In the most popular areas of the country, such as Sliema and St. Julian’s, rental yields can reach 5 to 10% a year. This makes renting a property in Malta very profitable for both local and foreign investors.