Rent a house or a Room in Gozo, Malta
Buying property in Gozo, be it an apartment/flat, townhouse, farmhouse or villa is very easy and straightforward for the locals and foreigners alike.
The easiest way in my opinion is to contact a Notary of your choice who will obviously know all the ins and outs of the current laws and regulations and who will gladly direct you step by step through the whole process. You only have to add the cash :))
When the property has been chosen and the price agreed upon by both parties, a notary public draws a preliminary deed known as a Konvenju or Convenium on which !0% (or as agreed between the parties) of the cost is paid. 1% Stamp Duty has also to be paid on the Convenium which is part of the 5% Stamp Duty paid by the buyer on the final Contract.
The final contract is drawn after a minimum period of 3 months to allow for researches to be conducted by the Notary. This period can be further extended as agreed between the Buyer and Seller.
CONDITIONS FOR BUYING PROPERTY in GOZO by NON-RESIDENTS
(Please Note that the following were in force in 2012)
Non-residents may be freely buying property in Gozo and also in Malta, subject to obtaining an AIP permit, if such permit is necessary. An AIP permit will not be required to purchase properties in Special Designated Areas and, in the case of EU citizens who :
1) Have been resident in Malta for at least five continuous years;
2) Intend to purchase a property which is to serve as their primary residence; or
3) Who intend to purchase a property for investment purposes.
Where one of the spouses is an EU citizen and the other spouse is a non-EU citizen, both can likewise benefit from the exemption outlined above and acquire property without the necessity of obtaining an AIP permit, provided the acquisition is being made to establish therein their primary residence.
I have a UNIQUE property just round the corner from this famous Pjazza (Plaza, Square, Piazza). Ideal for a luxury residence or for commercial purposes (eg. Offices, Bank, GuestHouse).
Buying - - Also exempted is the acquisition of immovable property by an EU national for the conduct of one’s business activity or for the supply of services by such person. In such a case, a declaration reflecting the purchaser’s intention for the acquisition should be inserted in the relative contract of purchase.
Where the purchase requires an AIP permit, the property must satisfy a certain minimum value which changes periodically and which currently stands as follows:
€ 98,000 for apartments and maisonettes and €164,000 for villas, townhouses and other property. These values are index linked and thus may be subject to revision annually.
The property purchased has to be used solely as a residence by the applicant and his family. This condition will be waived once the applicant obtains the relative permit to rent the property.
The above-mentioned individuals may only own one property in Malta and Gozo (except in special designated areas where one may purchase more than one property). Once these applicants have purchased a property in Malta and wish to acquire another one after having sold the first one, they may do so after obtaining permission from the Ministry of Finance. Applications for permission to acquire another property are normally favourably considered. Permission will be granted subject to the first property being sold.
Typical quiet Gozo Farmhouse
Buying Property in Gozo - - Citizens of all European Union member states, who have resided in Malta continuously for a minimum period of five years at any time preceding the date of acquisition, may freely acquire more than one immovable property without the necessity of obtaining a permit.
EU citizens, who have NOT resided in Malta for at least five years, but have the intention of purchasing their primary residence i.e. take up residence in Malta, do not require a permit. Nor do they require such a permit to purchase immovable property required for their business activities or supply of services.
Individuals who are NOT citizens of a European Member State may acquire immovable property after they obtain the relative permit (AIP permit) in terms of Chapter 246 of the Laws of Malta from the Ministry of Finance, unless they acquire property located in a Special Designated Area.
When buying property in a Special Designation Area no restrictions whatsoever apply. Foreigners (EU and non-EU) may purchase any number of units within such developments without the need for an AIP permit, hence such purchases are not governed by any of the above mentioned conditions.
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I have a fairly good Portfolio of Property for Sale in Gozo and in Malta.
Please Contact Me for full details and photos.
Rent a house or a Room in Gozo, Malta