Back to Blogs
Land in Malta & Gozo
Malta is not only known for its rich history, stunning beaches, and picturesque landscapes, but also for its beneficial taxes, warm climate and friendly people. The country’s real estate sector is well-known to outperform many other conventional investments and the return on investment is significantly higher than most other places in the EU.
As a result, Malta has become a popular destination for tourism and real estate investment. One of the most sought-after types of real estate in Malta is land with potential for the building and construction of new accommodation such as apartment blocks, villas and bungalows. Due to the small size of the islands, space and therefore land is highly prized, especially if it comes with permits in hand that already received the green light for construction and building to commence from MEPA.
As said, one of the main advantages of buying land in Malta is the potential for high returns on investment. Besides locals investing in real estate as an alternative to conventional savings, the island’s tourism industry is booming and as a result, there is a high demand for new properties and therefore land offered for sale for development.
When it comes to buying land in Malta, there are several types to choose from, including residential land, commercial land, and agricultural land. Residential land is typically used for building houses or apartments, while commercial land is used for building offices, shops, and other businesses. Agricultural land, on the other hand, is typically used for farming or other agricultural purposes but it can also be useful to generate a source of potential income when it has inherent natural beauty, offers walking trails or has access to beaches.
As the islands are known for their stunning landscapes, charming villages and secluded beaches, purchasing a piece of land in the outlying areas by developers for the building of new apartment complexes offers any buyers of these units easy access to all of these amenities, something which is highly prized. Many potential purchasers are looking at escaping the congestion, noise and frustrations of urban living by moving to a home on the outskirts and properties that face ODZ land or those that are located in UCA areas are especially sought-after. That said, the rules are very strict for building new structures on urban conservation areas or land and getting permission to do so is not impossible, but can be drawn out and costly. Building in urban conservation areas in Malta is subject to specific regulations and guidelines, aimed at preserving the cultural and historical significance of these areas. The rules may include restrictions on the height, size, and design of buildings, as well as the materials used. Before starting any construction work, it is recommended to obtain the necessary permits and approvals from the relevant authorities, such as the Malta Heritage Trust or the local council. Failure to comply with these regulations may result in penalties or the requirements to undo any work already done, so rather look at buying a piece of land for which the necessary permits have already been awarded.
So, when it comes to buying land in Malta or Gozo, it is extremely important to do your research and work with a reputable real estate agent or lawyer. As said, there are strict regulations in place for the buying and selling of land. Additionally, it is important to ensure that the land you are interested in purchasing does not have any outstanding debts or legal issues as one would do when buying any other kind of property. Also see to it that the land is properly surveyed and that you have a clear understanding of the exact boundaries and dimensions of the property and that this is demarcated on a recent map of the area as supplied and signed by an architect, surveyor and the housing or land authority.
The price of land in Malta, as in the case of anywhere else, can vary depending on the location, size, and type of land. Residential land typically costs more than commercial or agricultural land and popular, sought-after areas will typically be more expensive than land in less developed areas. Additionally, it is important to budget for additional costs such as survey fees, legal fees and taxes when you plan on buying a piece of land.
Buying land in Malta can be a great opportunity for those looking for a high return on investment and it will provide you with a fantastic opportunity to be a part of Malta’s growing and robust economy. At Frank Salt Real Estate we have a wonderful selection of land for sale in both Malta and Gozo, from a small piece of land to vast tracts, many of which already have the necessary permits applied for and approved. If you are interested in investing in land on Malta or Gozo, do not hesitate to give us a call.
