Property Tax in Malta

When buying a property in Malta, there are several fees to consider apart from the notary fees. The first fee to be aware of is the stamp duty, which is a tax levied on the transfer of property. The stamp duty rate varies based on the value of the property and the status of the buyer depending it is a first-time buyer or a second-time buyer. Normal rate after these incentives normally stands at 5%. In case you need more information on any specific case do not hesitate to contact us.

Another fee to consider is the bank loan processing fee, which is charged by the bank if the buyer is taking out a mortgage. This fee can range from 0.5% to 1% of the loan amount.

Property Searches

Additionally, there are fees for property searches, which are conducted to verify that the property is free from encumbrances or legal issues. These fees can vary based on the complexity of the search required.

Other charges when buying a property

Lastly, there may be fees associated with transferring funds, such as bank charges or currency conversion fees, if the buyer is transferring funds from a foreign account.

Another charge that is incurred is the expense of an architect who is directly contracted by th buyer to make sure the property is built according to the relevant permits.

Overall, buyers in Malta should budget for these additional fees when purchasing a property, in addition to the notary fees.