Real Estate Agents Malta - Property Advice
Maltese estate agents have seen business booming in recent years as the island has begun to attract a new type of visitor, those looking to relocate to a home in the sun. Recently joining the EU has only served to make Malta an even more attractive prospect and the consequent growing number of airlines offering cheap flights to the archipelago mean that Malta real estate is becoming harder to get your hands on. Malta real estate agents are keen to cash in on this expanding market and the rapidly increasing number of agents in Malta is testament to the increasing property market.
In an attempt to use this to increase the wealth of the Maltese economy, the government have recently imposed strict rules about the required independent income and minimum requisite property price for a foreigner buying a house in Malta. The island is both highly in demand and limited in the amount of property it has due to its small size so they were able to impose the restrictions without any worry of a decrease in foreign investment.
Malta has many well-established, professional real estate agents, but like all places, it also has its fair share of cowboys. It would be easy to let yourself to be caught up in 'estate agent speak' and end up buying a property in an area that's not suitable for your needs or that's of a style you didn't want. A good estate agent will make note of all your details and requirements, then show you a variety of properties that fit your statement. When you're taken to look around, be sure to have some time on your own at the property to talk it through honestly. It's especially important to get a good real estate agent if you're looking to buy a house that's still under construction as they'll outline all the costs and you won't be stung later.
There are loads of real estate agents online but unfortunately Malta doesn't have a regulatory body for its property market and from the web site it's hard to tell which ones are genuinely reputable and which are not. One of the best ways of finding a good agent is through word of mouth and you could do a lot worse than chatting to the locals. Whoever you decide to go with, check their credentials, and ask to see evidence of their past record before committing yourself to paper.