Below are the additional costs that any buyer will have to pay when purchasing a property in Malta, as well as the agreed price with the seller:
There are currently incentives for first time buyers who can claim up to a maximum of €100,000 in property related expenses when restoring a home in a UCA zone (Urban Conservation Area). Ask one of our team for more details here.
A Notary is a public official who acts for the government and is usually appointed by the buyer. It’s their job to check the property is unencumbered and that there are no problems relating to Banks or individuals.
Notary fees are normally about 1.5% to 2.5% of the property price and are normally paid in two stages, 33% on signing the preliminary agreement and the remaining 67% with the publication of the final deed of sale. Notary fees are calculated according to the Notarial Council Guidelines under www.notariesofmalta.org
Where there is ground rent relating to a property, the buyer will have to pay a recognition fee, (which is 1 years ground rent) (known as the ‘laudemium’) to the ground rent owner, plus the ground rent for the property itself so in total there will be two ground rent payments in the first year.
|Property Value in €||Rate €|
|up to €11,646.87||13.98|
|11,646.87 – 23,293.73||18.63|
|23,293.73 – 46,587.47||27.95|
|46,587.47 – 69,881.20||37.27|
|69,881.20 – 93,174.94||46.59|
|93,174.94 + every 23,293.73 =||9.32|