Financial Services > Investments > Property Overseas > Property Abroad - Malta

Property Abroad - Malta

Malta has clear, calm seas and year round sunshine and is becoming an increasingly popular island on which to purchase property as an investment. Taking out a mortgage to buy a property on Malta is a fairly straightforward affair.

Malta has a reputation for having properties built to a high standard and in order to maintain this, the Maltese Government has set down certain stipulations regarding rental properties. If it is your intention to rent out your property, you can only do so if the property has a pool and is worth in excess of Lm 50,000. The property will also need to be registered with Malta's Hotel & Catering Establishments Board. Any income generated from renting will be taxed at 15%.

Tigne, Cottonera and Portomaso are all popular up-market resorts and more than one property can be purchased in any of these locations.

Once the preliminary agreement has been signed, 10% of the price of the property will need to be lodged with an agent or notary. If the purchase does not go ahead, the deposit is non-refundable. The balance, stamp duty and legal expenses will all be due when contracts have been signed.

 

With thousands of holidaymakers flocking to Malta each year and the introduction of cheap flights from many UK airports, the island offers great investment potential.

Below are links relating to holidays in Malta:

To find out more, complete a Quick Enquiry Form and one of our advisers will contact you.

For advice about how to arrange your mortgage for your dream home abroad visit us at www.mortgages.co.uk

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