Buying a home in a development could just be a very good move! Properties found here are usually newly built and often sold off-plan, meaning that you can buy the property before it is built and save a ton of money along the way on developer’s discounts.
Properties or houses built in developments are usually built to very high standards, with modern finishes and amenities. If the development is located in a desirable area, for instance close to the coast or in popular tourist resorts, purchasing a property here can be a very good investment as the value will tend to increase considerably over time and it will also provide a good rental income.
Homes in newer developments will also save you money
A new build home requires less maintenance and with the latest technology, appliances and furniture, your house is more likely to last. Many new build houses have a warranty that will be valid for some years, so you are less likely to face huge bills on repairing and fixing things.
Living in a newly constructed home not only helps the environment but also puts more money in your pocket. With energy prices expected to increase in years to come, the benefits of having energy-efficient and sustainable homes are becoming more essential than ever.
Newly built homes are designed to meet the latest standards in terms of materials, insulation and appliances. This means they use significantly less energy compared to older homes, which in turn reduces their impact on the environment. The exciting part is that this eco-friendly approach isn’t just good for the planet; it’s also a smart financial move.
Investing in a new build home is a wise long-term choice because it not only aligns with current environmental values but also results in immediate savings on your energy bills. So, while you’re helping to reduce your carbon footprint, you’re also keeping more of your hard-earned money in your wallet.
When you purchase a new build home, you’re making a choice that prioritises the safety and security of your family and property. These modern homes are constructed with state-of-the-art technology and incorporate features like fire-resistant materials and advanced smoke alarms, giving you added peace of mind.
If you are keen to purchase a property in one of Malta or Gozo’s development hotspots, there are a few things to keep in mind before you buy:
- Certainly the most important thing to do is to do some research on the developer to make sure they are reputable, offer a quality product and stick to their delivery and completion times.
- Always be aware of the risks associated with buying off-plan: there could be delays in the construction and it could not be of the standard that you expected.
- Ensure that the location is convenient and close to all the amenities that you require.
- Compare prices of similar developments or properties in the area to make sure that you are not overpaying.
- Ensure that the property is built to the specifications that you have seen on the plans, as this could cause you problems later on when you sell one day.
- When it comes to warranties, make sure you get any promises in writing from the developer. This will protect you later on after the property has been built.
Here are some popular, high-end developments in Malta and Gozo worth looking at, some brand new and others well established:
- The Verdala Terraces, Rabat: This is a collection of 87 upscale residential units spread across 7 floors within two blocks: the Grand and Royal Mansions. Each residence offers captivating views that showcase the stunning beauty of Malta’s countryside, landscaped gardens and charming public piazzas that envelop the residential complexes. In addition to its unmatched luxury and lavish amenities, the Verdala Terraces holds the esteemed status of being a Special Designated Area. This unique distinction grants both EU nationals and non-EU nationals equal property acquisition rights as Maltese citizens.
- Tigne Point, Sliema: Situated in Sliema, it is one of Malta’s premier locations. As a Special Designated Area, no AIP permits are needed to buy here and properties can immediately be rented out. Most apartments here have beautiful views and access to private walkways, sports clubs and gardens, as well as secure access to shopping areas, cafes and more.
- The Shoreline, Kalkara: Loacted in a Special Designated Area, The Shoreline is a luxury complex at Smart City with guaranteed open areas and gated entry to access-controlled residential footpaths. There’s also an extensive range of top restaurants, a high-end 2-storey shopping mall, a spa and gym. The development will also incorporate a pool terrace and underground car park.
- Portomaso, St Julian’s: As another Special Designated Area, Portomaso is well-established as a premier investment development and offers a variety of apartments, penthouses and villas. It is home to a number of luxury shops, restaurants, bars, as well as a casino and a yacht marina.
- Fort Cambridge, Sliema: The development offers a variety of apartments and penthouses and is purely residential. Fort Cambridge is located close to a variety of amenities, including shops, restaurants and bars and is also a Special Designated Area. The fort, where the development gets its name from, is at the foot of the development and the entire development has some rather impressive green credentials.
- Madliena Village, Madliena: This is a tranquil hillside community of a limited number of 85 spacious luxury apartments situated in an exclusive location. It is a short walk away from the medieval village of Gharghur and 10 minutes from the bustling commercial and entertainment seaside districts of Sliema and St. Julian’s Bay. A key feature of the development is the large, high-level open-air swimming pool with its sun-deck terraces, as well as the pedestrian pathways and landscaped gardens that is used year round.
- Fort Chambray, Gozo: As another Special Designated Area, Fort Chambray is set in the very best location on Gozo. Properties here are truly unique and vary from larger units with open-plan living areas which lead to private or communal pool areas and the bigger units can have up to 3 double bedrooms.
- The Kempinsky Residences, Gozo: Also a Special Designated Area, this development is located in San Lawrenz, a small, traditional village. The Kempinski Residences are a luxury development of serviced residences and these individual, stylish Mediterranean homes offer every modern luxury and comfort. Owners can make use of the legendary five star service for which Kempinski Hotel is famous for – and all in a setting which guarantees privacy and security.
In and around Malta and Gozo many other prime developments can be found such as Pender Gardens, The Mercury Suites and Towers, Ta’ Monita, Fort St Angelo, Vista Point, Verdala Terraces and many more. If you want to access the entire list of the latest available developments in Malta, make sure to visit https://franksalt.com.mt/developments/ or give one of our offices a call and we’ll be glad to assist.