Second Time Buyers

Second Time Buyers in Malta and Gozo

Your second property in Malta

Malta and Gozo second time buyers

Buying Malta real estate as your second home can be a huge achievement but it can sometimes feel just as daunting as your first time. 

There are many different reasons why people look to buy a second property in Malta and Gozo. Perhaps your family is growing, and you need more room, or children have flown the nest and you’re looking to downsize. Maybe your finances or life circumstances have changed and you’re looking for a new home environment. Or maybe you’re in the market for a holiday home or a rental investment. 

Whatever your reasons, you’re coming into this process with all the experience you gained when you first got your foot on the property ladder, as a first-time buyer in Malta, but you’re also facing new challenges you should be prepared for.

Malta property for second time buyers

Second-time buyers property

Government Schemes in Malta

Second time buyers government schemes

As a second-time buyer, the government offers an exemption on stamp duty on the first €86,000 of the value of your new property (rising to €150,000 for people with a disability and their guardians). 

If you’re looking at older or more traditional Malta properties, such as houses of character, you may also be able to benefit from an exemption on capital gain tax and stamp duty on the first €750,000 of the Malta property. This measure applies to properties in Urban Conservation Areas (UCA), as well as properties built in a traditional style which are older than 20 years and have been vacant for at least 7 years.

With these properties, you could also benefit from a VAT refund of up to €54,000 on the first €300,000 of the costs needed to restore and finish your new property. Read more in detail about government schemes for first-time and second-time buyers in Malta.

Traditional Real Estate

Traditional Malta and Gozo homes

Bank Loans in Malta & Gozo

Second time buyers bank loans

Are you a first-time house buyer who wants to expand your real estate portfolio? Several local banks in Malta and Gozo provide excellent home loans that are suited to your unique financial situation.

Different local banks offer different types of home loans for second time Malta real estate buyers. Such local banks consist of Bank of Valletta, HSBC, APS, Lombard Bank and many more. 

Read more in detail about the different home loans available for first-time and second-time buyers in Malta and Gozo and the process needed to obtain a home loan. 

JK Properties Assistance

Second time buyers assistance

No matter why you’ve decided to buy Malta property as your second home, it’s vital that you choose the right real estate agents to guide you through the process. 

At JK Properties, we have the largest database of properties for sale in Malta and Gozo, and a team of highly trained agents specialised to assist second time buyers in any particular real estate market. We’ll assist and guide you through every step of the process of buying property in Malta or purchasing Gozo real estate, whether that entails finding the perfect property, selling your current property, or letting out your new rental investment. 

Buying guides

Second Time Buyers Guide


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