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Why buy property in Gozo?
Malta and Gozo’s prime location in the Mediterranean coupled with a warm climate, wonderful beaches and historical sights are generating ever-increasing numbers of tourists each summer. While for some it is merely a holiday destination for others it becomes their primary or secondary residence. In a country so incredibly immersed in the tourism industry, there are a wide variety of accommodating lodging facilities to meet each and every need. Thus choosing the right one for you and your family is important. In recent years buying property in Gozo is becoming ever so popular, so much so that owning land in Gozo is basically worth its weight in gold.
Gozo, situated just northwest of Malta is a picturesque and idyllic island that is brimming with stunning places to visit. It is the home of the much sought after ‘Azure Window’, red sandy beach ‘Ir- Ramla il- Hamra’ as well as the world-renowned Ggantija Temples. Above all, it is a place where locals and tourists alike visit to enjoy a serene getaway from all the hustle and bustle that is Malta.
Whether you prefer strolling around the piazzas and sipping on a coffee while the day passes by or trekking along the wild coastline or hilltops, Gozo has a lot to offer and accommodates different lifestyles.
Amongst the many residential options available in Gozo, the rage is all about Gozitan Farmhouses. A farmhouse is exactly as the name implies, a farm that is adjacent to a house. Have been purposely built by the farmer himself, a farmhouse had two functions, first and foremost for the rearing of livestock and secondly to house the farmer’s family. Nowadays farmhouses are revamped and remodelled to house any family size and include amenities such as front and back gardens, pools and lounge areas. Farmhouses are commonly located outside the village core where one can enjoy the peacefulness of the countryside.
All the more reason to consider buying property in Gozo is due to the fact that Gozo has been granted the status of a Special Designated Area (SDA). Special Designated Areas (SDA’s) is a status granted to qualifying developments that allow both EU and non-EU nationals to purchase property in Malta with the same acquisition rights as Maltese citizens and without the need to obtain an AIP permit (Acquisition of Immovable Property). Therefore there are no limits on the number of properties a buyer can purchase and once acquired the owner can also lease the property without restrictions (any rental income is taxed at 15%). As a result, these developments are extremely popular with international investors as well as the Maltese.
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