As urban redevelopment in Malta seems to only increase year-on-year and the limits of extending current buildings’ heights are reached, investors are progressively turning directly to land owners or commissioning estate agents to find them undeveloped plots of land that can be developed.
Single plots are often earmarked for the construction of a villa or other large home. This approval process to build on previously undeveloped land has to follow the rules as set out by law and can be cumbersome, so plots of land that already come with approved permits are favoured. If a plot of land already has a building on it, the existing building is often demolished to make way for a newer one, or in many cases, a block of apartments. Maximising the square meterage of a piece of land also ensures the best profits to any developer, but to make it a successful venture, a feasibility study done in conjunction with all the players that form part of the process is always advised.
Plots offered for sale in Malta often border UCA and ODZ land and it is always expected that whatever is planned for the plot of land in question, needs to be sympathetic in design and conform to the zoning regulations of the area. Needless to say, any planned construction anywhere in the country will always be subject to obtaining the required and approved permits.