If you want to purchase a property in Malta, it’s important to understand the process. Both local and international buyers can buy property in Malta, but you need to register with the Land Registry. This guide will explain how to purchase a property in Malta and what you need to know about the Land Registry.
Table of Contents
- Real Estate Laws in Malta
- How the Maltese Land Registry Works
- Who Can Access the Land Register
- Information the Land Registry Holds
- Steps to Purchase a Property in Malta
- Registering a Property in Malta
- Transferring Property Titles in Malta
- Investing in Real Estate for Residency
- Malta’s Real Estate Market
Real Estate Laws in Malta
To purchase a property in Malta, you need to follow certain laws. These include the Civil Code and the Land Registration Law, which cover property transactions and registration. The Land Registry is now part of the Ministry of Transport, Infrastructure, and Capital Projects.
How the Maltese Land Registry Works
The Land Registry in Malta has different offices:
- Receiving Office: Takes in property registration applications, search requests, and Land Registry plans. They also collect fees.
- Drawing Office: Checks and digitizes Land Registry plans and handles search requests (Form E).
- Land Registry: Includes assistant Land Registrars who review and approve applications.
- Data Input Section: Manages application registrations and file tracking.
- Prezentata Section: Conducts searches for people or companies registering or transferring properties.
Understanding these offices is important when you purchase a property in Malta, as they help process and manage property information.
Who Can Access the Land Register
Only Land Registry employees can access detailed property information. To get information, you need to fill out a request form on the Land Registry’s online portal and pay a small fee, about 5 euros.
Information the Land Registry Holds
The Land Registry keeps important information, including:
- Owners of residential and commercial properties.
- Details about land plots, including agricultural and forest lands.
- Encumbrances like mortgages and property values.
- Maps and technical details of properties and land plots.
This information is crucial when you purchase a property in Malta to ensure everything is in order.
Steps to Purchase a Property in Malta
To purchase a property in Malta, follow these steps:
- Sign a Pre-Sale Agreement: Confirm your intention to buy the property.
- Make an Advance Payment: Secure the property.
If you can’t be present for the final transaction, you can appoint a lawyer from our firm to handle it. We can also take care of registering the property with the Land Registry.
Registration must be done within 15 days after signing the sale-purchase agreement. You can choose someone to handle this for you if needed.
Registering a Property in Malta
After deciding to purchase a property in Malta, due diligence is important. Once the pre-sale agreement is signed, the notary will check and submit a Form E request to the Land Registry for property details.
The Land Registry will issue a Certificate of Title if everything is in order, usually within eight days. This document confirms property ownership and status.
Transferring Property Titles in Malta
After signing the sale-purchase contract, you must register the new property title with the Land Registry within 15 days.
The notary will file the necessary documents with the Land Registry to complete the transfer. The Land Registry also handles disputes related to property registration, which can be appealed to the Court of Appeal in Malta. Our attorneys can assist with any disputes.
Investing in Real Estate for Residency
Malta’s Golden Visa Program allows people to get residency or citizenship by investing in real estate. Investors can buy or rent properties of specific values, which must be registered with the Land Registry.
For purchasing, the minimum property value is 350,000 euros, and renting must be at least 16,000 euros per year. Buyers must keep the property for at least 5 years.
Proof of ownership or rental from the Land Registry is needed for the Golden Visa application.
Malta’s Real Estate Market
Malta is a popular place for vacation homes. Recent statistics show:
- 92.4% of Maltese people owned homes as of 2018.
- 16.4% owned a second home in Malta.
- Over 40% rented out their second properties.
- 15% used them for investment.
- 40% used them as holiday homes.
Purchase a Property in Malta Can Be Easy
Buying a property in Malta is straightforward whether you’re a local or a foreigner. By understanding the steps, from due diligence to registration, you can make the process smooth and hassle-free. With the help of experts, you can ensure everything is handled correctly, making your property purchase in Malta a success.
