Malta is also witnessing massive influx of foreign workers from abroad who are looking for job opportunities in fields like iGaming and the financial sector, as well as tourism.
Searching for property for sale in Malta is the most effective option.
The influx of demand has caused an increase in rent since landlords have increased rents to accommodate the increase in demand. The market for property purchases is also increasing however not nearly as fast like the rental marketplace.
That means that if are employed with a fixed salary with a contract as well as the ability to pay a down payment on your home, you can save thousands of dollars by taking an investment loan instead of renting and receiving no benefit.
This fact of the marketplace trending upwards means that you’ll also earn a profit on your investment if you decide to relocate from the country, or even increase or downsize a property.
The prerequisites to purchase an investment property
In the event that you have an account with a local bank or proof of employment and that you meet the test of means for loans The process for getting a mortgage fairly simple in Malta however the huge number of agents in Malta can sometimes create a problem.
Although it’s not a common practice gambling, it can be observed, when agents will try to negotiate more money in exchange for more commission. This is a scam that must be considered, however, it can be avoided by having different agents offer a quote on the various properties.
Similar to other countries, in order to buy an apartment in the country you need to be able to pay the insurance for your home and life on your behalf to safeguard against mortgage. Simply put, purchasing property is currently and, with the market still not in the midst of overinflated prices it is a no-brainer.
Although prices are slowly creeping upwards, the ancillary services and commissions charged by agencies haven’t completely been able to catch up. The mortgage interest rates are attractive and any repayments you have to settle will less than what you have to pay for rent. One minor issue that may impact your choice is that selling a house could take a while because notaries must conduct extensive research to make sure there aren’t any other claimants to the title or deeds. Therefore, you’ll need an experienced legal professional on you to ensure that everything runs smoothly.
CEBI, Level 3, Dar Ġuzeppi Zahra, University of Malta, L-Imsida MSD 2080, Malta