Buying a House in Malta

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The European Free Movement of Workers agreement means you can start working and even buying a house in Malta without a visa or work permit.

As English is one of the official languages of Malta, language is no barrier to finding work. You may find it helpful to register with the Maltese Public Employment Service (ETC). You can register in person or online, upload a profile and your CV and more. Go to https://www.gov.mt/en and follow the link “find a job” at the very bottom of the page. There is lots of information about Malta in addition to work there.

If you are moving for employment, the administrative details may be handled by the employer. It is wise to get a written contract if possible. A verbal contract gives little protection.

Buying a House in Malta

You may purchase one property in Malta or Gozo, though there are areas where you may be able to buy more after living in Malta for at least five years. It must be used only for residence guests are only permitted when you are there, and you cannot rent it out except if you have a swimming pool, when it might be possible. You must be able to prove that your funds have come from abroad (bank receipt). These are the usual steps to buying in Malta:

  1. Choose your property
  2. Make an offer
  3. If accepted, the notary will draw up a purchase agreement, which can be signed by both parties if you are happy with it.
  4. You pay a deposit (10%) and stamp duty (1%), this pays for registration and tax.
  5. The purchase agreement is usually valid for three months, while the checks are run for the title and any encumbrances.
  6. Notary draws up the Final Deed for both parties to sign.
  7. You pay the balance on price and stamp duty. Stamp duty is usually a flat rate of 5% or the value of the property, and must be paid within 15 days after signing the final deed of sale.
  8. Sale concluded.

The total transaction costs include all costs of buying and then re-selling a property – lawyers’ fees, notaries’ fees, registration fees, taxes, agents’ fees, etc. usually cost between 7 and 26%. It usually costs more than you expect, so check your finances carefully. Currency rates will affect you the following website may save you money: www.smartcurrencyexchange.com

Check the prices of removals to Malta.

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