When buying a property the purchaser incurs certain costs which are involved in the process.
When the property being purchased is to be used as the purchaser’s primary place of residence, stamp duty is charged at 3.5% on the first €150,000 and 5% on the remaining value.
For any other purchase, the standard rate of Stamp Duty in Malta is 5%
This is due to the value of the property and excludes the value of the furniture and fittings.
Every year the government offer reductions for purchases in the south, Gozo, first-time buyers, etc to stimulate the market so kindly contact us to clarify your situation to see which benefits you are entitled to. Both locals and international investors are eligible for this scheme.
Also at the moment in the case of second-time buyers, there is a reduction of 3,000 euros and for special needs people there are further discounts of 5,000 euros
In order to encourage the restoration of Malta s fantastic vintage buildings to qualify you to have to be a first-time buyer and are eligible for 100,000 euros for restoration costs.
You can select the notary of your choice, or we can recommend one carries out the promise of sale between the vendor and the buyer. Their fees are generally about 1.5 per cent which includes a fee to the government to carry out property searches from the lands department. Their website is www.notariesofmalta.org
Architects fees we recommend you bring an architect to evaluate the condition of the property specifically structurally for peace of mind which should not cost more than 300 euros.