Malta has quickly become one of the top destinations in the Mediterranean for expatriates who are looking to invest in property abroad.
Over the years, Malta has become an attractive option with its increasingly favourable tax schemes compared to other countries in Europe.
A non-Maltese national would need to apply for an Acquisition of Immovable Property (AIP) permit when buying a property in Malta, and the one way to skip this procedure is by opting to purchase a property in a Special Designated Area (SDA).
What are Special Designated Areas (SDA)?
Special Designated Areas in Malta are brand new, high-end developments that locals in Malta as well as EU and non-EU nationals, can purchase property without an AIP and may purchase any number of them within the same area under the same rights as Maltese nationals. Buying a property in an SDA has no restrictions such as the ones that can come about when purchasing a home in a non-SDA, therefore expats are able to purchase more than one property and lease them without restrictions if they wish, benefiting them greatly in capital growth and rental profit.
Advantages of Special Designated Areas
There are many advantages that investors will be please to know about when purchasing a property in a Special Designated Area, such that many of the available properties are in upmarket areas and hence, will provide the purchaser the opportunity to apply for the High Net Worth Individuals Scheme. Other advantages are that SDAs, more often than not, offer some of the best services, amenities and facilities in their area such as convenient stores/supermarkets, cafes/restaurants, spas and many other entertainment options, making it extremely secure, comfortable and most of all, practical, for Maltese and non-Maltese residents alike.
Current Special Designated Areas
Cottonera Development, Cottonera
Fort Cambridge Zone, Tignè, Sliema
Madliena Village Complex, Madliena
Metropolis Plaza, Gzira
Pender Gardens, St. Julians
Portomaso Development, St. Julians
Portomaso Extension I, St Julians
Tigne Point, Tigne, Sliema
Ta’ Monita Residence, Marsascala
Tas-Sellum Residence, Mellieha
Fort Chambray, Ghajnsielem
Kempinski Residences, San Lawrenz
Vista Point, Marsalforn