Buyers Guide - Purchase Conditions
In most instances, EU nationals and other nationalities are allowed to purchase a maximum of one residential property in Malta or Gozo, although there are some exceptions (if the second property is purchased in one of the country’s Special Designated Areas such as Portomaso, Tigne project, Cottonera Waterfront and Chambrai in Gozo. In these areas, government permits such as the A.I.P. permit are not required to purchase a property and there are no limitations on the quantity of properties or residences that can be bought.) As previously stated, all other areas outside of these Special Designated Areas require the foreign purchaser to contact the Ministry of Finance in order to obtain an Acquisition of Immovable Property Permit (A.I.P Permit). Again, the permit will normally be issued within a three-month period and also be subject to the following conditions:
- The property’s purchase price must be at least € 99,043 in the case of an apartment, maisonette, penthouse and € 165,024 with any type of house.
- There must also be verifiable proof that the funds used in the purchase of the property originate from outside of the country.
For those E.U. citizens who plan to make permanent residence in Malta, there are no minimum value requirements placed on any property purchases. This stipulation will only apply to those non-residents who do not currently own another property within the E.U. or if they have permanently resided on the island for five years or more. Therefore, E.U. citizens who have lived on Malta continuously for five years are allowed to buy a second property.
PLEASE NOTE THAT THE CONDITIONS FOR NON-E.U. CITIZENS ARE OUTLINED IN POINTS 1 AND 2 ABOVE.