Real estate market turnover in Malta amounted to €293.3 million for November 2021 ― up 63.9% on the same period in 2020. Individuals ― foreigners and nationals ― bought about 93% of properties, while companies bought the rest. Gozo, the Haz-Zabbar, Ix-Xghajra, Iz-Zejtun regions accounted for the largest number of home sales.
How much is housing cost in Malta in 2021
Maltese property prices are rising by 5―10% annually and in some cases by 15―20%. For example, in the country’s popular tourist region of North Harbour.
The cheapest properties are on the island of Gozo. The highest prices for flats are in the North Harbour region and the highest prices for terraced houses are in the North region.
The average price per square metre of housing in Malta is €3,737 in December 2021, according to Numbeo.com. But this is still 20 times cheaper than in Monaco, one of the most sought-after countries for buying property among investors.
Wealthy people prefer to own property in Malta for holidays in the country. Investors also buy homes in order to obtain citizenship or permanent residency by investment.
How to obtain a residence permit and Maltese citizenship by purchasing a property
Property in Malta is an investment that allows you to obtain a residence permit and one of the conditions to obtain citizenship for exceptional services by direct investment.
A Maltese permanent residence permit can be obtained by investment of €112,000 or more. The investor has to fulfil the prerequisites of the programme:
- buy or rent a home on the island;
- pay a government fee and an administrative fee;
- make a charitable contribution to a Maltese non-governmental organization;
- to prove the existence of assets worth at least €500,000.
Maltese citizenship is only obtained by naturalisation. The path for investors is naturalisation for special services by direct investment. The applicant first obtains a residence permit, then undergoes a rigorous due diligence check. If he is approved, a year or three years after the residence permit, the investor can invest in the Maltese economy from €690,000 and apply for citizenship.
Examples of investment property in Malta
Immigrant Invest is a licensed agent who helps investors find properties and obtain permanent residence or citizenship in Malta. If you wish to become a resident or citizen of an EU member state, seek advice from the experts at Immigrant Invest.
