Renting and Buying a Studio Flat in Malta
Studio flats are ideal first-time homes for single people and couples. They are a self-contained unit in which the living room, kitchen, and bedroom form one main room. The bathroom is usually the only space separated into its own room. The studio is often designed in an L-shape to allow there to be some sense of demarcation between the bedroom and the rest of the living space. With an increasing number of studio apartments in Malta in very recent years, it is an affordable way to own property on the lovely Mediterranean island.
Why buy or rent a studio flat in Malta? In general, this is a wonderful place to invest in property. The country enjoys a high standard of living and an attractive climate. It is also one of the few Western countries where the real estate market has remained stable throughout various global financial crises making it a solid investment option. The island has sound banking ethics and its population has a long-standing faith in investing in bricks and mortar. These have helped the real estate market to experience a consistent capital growth.
Another factor is the availability of properties. The selection is vast in terms of both budget and style. There is everything from multi-million euro mansions to simple studio flats for sale in Malta. Available properties are located all around the island (as well as in Gozo) with rural, village, and town settings.
On top of these factors, the Maltese government has also made living in Malta easier. In 2013, the Maltese Global Residence Program was introduced. This grants Non-Maltese and non-residents the status of tax resident and special tax status (flat-rate income tax at 15 per cent on foreign source income). The residency requirements are to rent or buy a property in Malta and paying an administrative fee amounting to EUR 6,000. This makes it an attractive proposition to either choose to reside or invest in a second (holiday) home.
Why Choose to Buy or Rent a Studio Flat in Malta:
- Despite their size, studio flats have their advantages.
- As a contained living space, a studio flat is easy to keep clean and tidy and maintain.
- It is easy to move furniture around and restyle, meaning you can make it feel like a new home very easily and in short time.
- It is an affordable way of owning a holiday home on a beautiful island where the weather is gorgeous in summer and mild in winter.