The mere thought of selling or buying a home and relocating may be too stressful to handle and you think twice before doing the move. However, when the time comes and you need to take the first step, having an estate agent by your side will surely make the journey less sweaty and nerve-wrecking. He will guide you and advise you throughout the whole procedure and being a property expert, you will definitely be in safe hands. Buying or selling and letting or renting property in Malta and Gozo can be as smooth as it can ever be with the help of an estate agent.
What type of property can you buy or rent?
Whether you're a foreigner retiring to Malta, a first time buyer, visiting Malta for a short holiday, moving your business to larger premises, looking for a buy to let investment, wish to move to a luxury home, or interested in buying a second home in Gozo, a real estate associate will find the most appropriate home for all house hunters or help you sell your current property. From residential and commercial properties, to properties for sale and for short let and long let, a property associate will assist you in achieving your dream home.
Depending on your budget, your needs, and your tastes, you can opt to buy or rent an apartment, seafront penthouse, maisonette, terraced house, a semi-detached villa, house of character in an alley or a townhouse in the village square. If you wish to upgrade to a huge property with a garden or pool, Malta has various bungalows, farmhouses, villas and palazzos which ooze luxury. On the other hand, if you have a tight budget and looking for a small temporary space, you can rent a studio apartment or a single room in an apartment. If you prefer developing your property from the ground up, you can choose to purchase a plot, site for development or airspace. Various sized garages and car spaces can also be purchased or rented. A number of agencies also cater for overseas property. Interested in opening up your own business? Local agencies offer commercial properties like offices, warehouses, hotels, shops and catering establishments for sale. Agricultural land and fields for sale are also commonly available.
Websites are usually very user-friendly enabling you to filter the property results which pop up. General specifications include locality, property type, price, number of bedrooms and bathrooms, ownership of garage and roof, while you might also view featured properties, hot properties and bargain properties.
Why visit a real estate agent?
Whether your intention is to buy, sell, rent or to let a property, a real estate agency can guide you in handling any property transactions and relocations. Locally, you may find a number of real estate agencies, ranging from small offices that focus on a particular area or type of property to large agencies that boast a head office and numerous smaller branches scattered across Malta and Gozo.
To Buy/Rent Property
Sales and letting associates have the necessary experience and know-how to find the home most suitable to your needs and tastes and will be by your side from the very first viewing right through to the day of the final contract. They will direct you through all the paperwork, legal, bank and architect fees and all procedures you need to follow to avoid mishaps and delays.
Rather than scrolling through the available properties on their websites, we recommend you set an appointment with a property associate to discuss your requirements, expectations and fundamental features that need to be present in your dream home. Hence, the agency will start looking for the best possible match and you'll be alerted immediately as soon as a new bargain home or a hot property with great potential and which ticks all the boxes is put on the property market. A real estate agent will take you around all relevant properties, allowing you to visit them at your best convenience. Properties with great potential may be sold within a couple of days and you don't want to feel any regret on not having seen a promising property on time.
Buying Property Procedure
Buying property in Malta? First and foremost, setting a budget is crucial. If you need a bank loan to purchase the property, you need to check how much you're eligible to and whether you can afford the monthly repayments. Next, visit an estate agent and start looking around shortlisted properties. When choosing your home to be, we suggest you view it more than once to make sure you're taking the right decision; it may be the biggest investment in your life so it's imperative that you get it right. Do try and negotiate the price as the sellers may be flexible.
If you're buying property, you need to take an architect to determine whether there is any structural damage present, check if there is any ground rent, and ask for plans, permits and an inventory of all the furniture being left behind. A Promise of Sale (known as ‘konvenju') is then done at a notary's office, where duration of ‘konvenju' and all necessary conditions are specified. This is where you'll be requested to pay a 10% deposit of the total price of the property, together with stamp duty. This promise of sale agreement is generally made subject to bank loan, subject to permits, sanction letter, building regularisation and life and home insurance. Within 6 months, the final contract would generally be signed and property paid for through the bank's loan, making you a proud property owner. Make sure you have enough savings for notarial, bank and architect fees.
If you intend to rent, once you choose your future home, you'll be required to pay a deposit which will be refunded once the contract expires. Determine the duration of the contract as making a short term or long term rental contract may also affect the price. Moreover, determine whether utility bills are included in the rental price. When signing the contract, make sure all conditions safeguarding the landlord, tenant and the property are inserted.
To Sell/Let Property in Malta
Interested in moving to a new house? Owners interested in selling property in Malta can rely on an agency to find a buyer for their property. From posting adverts to organising visits and carrying out negotiations, an estate agent is responsible for managing the selling process from A to Z. The agency may provide property valuation and inspection to determine the price of the property in question. You'll be required to obtain an EPC certificate, plans and permits. A property specialist will advise you on minor repairs and adjustments which will make your home more visually appealing, thus increasing your property's value. You need to choose between signing an open agency or sole agency agreement.
Interested in starting letting property for residential or commercial purposes, but not so keen on the hassle which it entails? Letting agents can offer advice and assist in maximising property value and rental chances. The agency can manage apartment cleaning and will make sure it has the necessary furniture and equipment. The apartment should give a homey and cosy feeling so tenants can easily picture themselves living there. If, as an owner, you don't have time to manage landlord duties, some agencies offer full maintenance services, including picking up the rent, paying the bills and handling any maintenance and services required by tenants.
Short and Holiday Lettings
With the number of tourists in Malta ever increasing, demand for holiday properties is growing considerably and people may prefer renting a luxurious house, apartment, or villa to enjoy more privacy and freedom. Holiday and short letting require more work since tenants change frequently, and having an estate agency to take care of the necessary tasks is a sigh of relief.
Have a busy work schedule? Estate agents are in a position to conduct all the mediations with owners, architects, notaries and lawyers, surveyors, contractors and interior designers. If you don't have any contacts of your own, the agency you choose will provide you with specialists who have the expertise to execute all necessary finishings and furnishings.
Certain estate agents work hand in hand with turnkey contractors who will in turn manage your property from the building to the furnishing stages. Fed up of harassing people and trying to create a timeline for all the works which need to be conducted? A property manager will manage all phone calls and appointments with regard to plastering, painting, tiling, bathrooms, apertures, plumbing, gypsum and other services you may need to turn your house into a home and develop your property according to your tastes.
Explore the wide range of estate agents listed on Yellow who specialise in properties for sale, long and short term rentals and other property related services.