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Overseas Property News
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GRTU make Malta property recommendations
Country: Malta
8 October 2009 The Chamber for Small and Medium Enterprise (GRTU) has made a string of proposals designed to help revive the Malta property market, in preparation for the country’s upcoming Budget. The GRTU’s top suggestion is that first-time buyers should be given a one-year concession from paying stamp duty on all homes in Malta priced at €120,000 (£110,000) and under. The chamber believe that this measure will help increase demand for property in Malta among first-time buyers, which is currently at an historical low, and help with the sales of more Malta properties. The Malta property sector is currently experiencing somewhat of quiet period. A spokesperson from the chamber said: “The GRTU has always advised the government in helping first-time buyers to meet each requirement.” The chamber is also proposing the reduction of the current 35% withholding tax on promise of sale to 12%. The government has also been urged to abolish the 1% fee paid on the promise of sale, which has, in the past, deterred some people thinking of buying a home in Malta. The chamber wants the fee to be replaced with a non-refundable €50 (£45) administration fee.
See Also: Malta, Marc Da-Silva, Tax
Some properties in Malta
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Price: £24,147
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Type: Apartment
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Bedrooms: 1
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What would have been a 1 bedroom studio maisonette, ideal for an office, tattoo parlor or hair salon. Comprising of 2 rooms, bathroom, kitchenette and a small back yard.
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Price: £47,489
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Type: House
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Bedrooms: 2
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Unconverted house of character with a 44 foot facade, 76sqm living space and roof. Consisting of 5 rooms and airspace. Features include xorok original wooden beams, arched ceilings and much more. Option to purchase adjacent house too.
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Price: £51,513
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Type: Apartment
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Bedrooms: 1
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Furnished penthouse, open plan kitchen/ living area with front terrace, one double bedroom and shower, possible of developing into 2 bedroom apartment.
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Price: £54,330
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Type: Apartment
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Bedrooms: 2
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2nd Floor apartment being sold in shell form. Accomodation comprises of large Living/Dining, kitchen, 2 bedrooms, 1 bathroom, washroom and airspace. Finished common parts, facade and lift included in the price.
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View details | Enquire further
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Price: £60,367
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Type: Apartment
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Bedrooms: 1
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First time buyers look no further! Spacious 1 bedroom apartment just off the seafront enjoying lots of natural light, separate kitchen, study, living, dining and main bathroom.
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Price: £60,367
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Type: House
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Bedrooms: 1
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A well finished habitable 2 storey townhouse just a stone throw away from Spinola Bay.
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Price: £61,574
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Type: Apartment
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Bedrooms: 1
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A ground floor maisonette in a very quiet street close to all
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Price: £63,587
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Type: Apartment
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Bedrooms: 2
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Newly finished 1st floor apartment. Accomodation comprises of a large living/dining, kitchen, 2 bedrooms, 1 bathroom, washroom and airspace. Finished common parts, facade and lift included in the price
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View details | Enquire further
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Price: £67,611
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Type: Apartment
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Bedrooms: 1
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A great opportunity to purchase a bachelor pad or rental investment very close to university of Malta. This property comprises a large open plan, split kitchen, living and dining area., with walkout onto spacious terrace.
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Price: £68,416
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Type: Apartment
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Bedrooms: 1
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A highly finished and furnished studio apartment facing a green area ideal as a rental investment or just as a holiday residence.
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