Planning to buy a commercial property for sale in Malta? Starting a new business, relocating or opening a new outlet to expand your operation is an important step for your business that comes with a number of major considerations.
While it can certainly be a long-winded and complicated procedure, at JK Properties we are all about smoothing out the ride and mapping out a shortcut that gets you to your ideal commercial property in Malta and Gozo, fast.
There is no doubt that buying a commercial property in Malta is a major expense, but if you don’t have the capital to afford it, a bank loan gives you the option to buy it anyway and look forward to owning it in full down the line. Yes, a loan is quite a serious financial commitment, but if you’re in a position to go through with it, you may find it preferable to forking out a monthly sum on rent. After all, with the price of property in Malta ever on the rise, there is probably no better investment.
In fact, you may even decide to purchase a commercial property in Malta or Gozo solely for its rental investment and let it to other businesses. If, however, you purchase a Malta property to use for your own business and, for whatever reason, you eventually decide to stop using the premises for that purpose but want to hang on to the property, you can still get something out of it by letting it.
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Buying commercial property in Malta all starts with one question: what type of business are you planning to conduct in it? There are plenty of commercial establishments on the commercial property market, including offices, restaurants, warehouses, shops and many more.
At JK Properties, we have access to a wide range of competitive commercial properties, including world-class premises like green office space and high-end set-ups with the latest fibre-optic connectivity, which are ideal for international remote businesses in the financial and IT industries.
Offices for sale or rent in Malta are a type of commercial property where employees of an organisation undertake administrative work in order to support and achieve objectives and goals.
Industrial properties like factories, gas stations, manufacturing plants, fishing facilities and many more are available for sale or rent in Malta and Gozo.
Retail commercial properties available for sale or rent in Malta and Gozo consist of commercial business which sells goods and services to consumers. These vary from shopping malls, to hair salons, showrooms and shops.
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Once you’ve hit on a Malta property, agreed on a price with the seller and are ready to seal the deal, it’s time to sign a preliminary agreement (konvenju) that binds you both to sign the final deed of sale within a stipulated timeframe. This will give you time to sort out your permits and bank loan, while the seller completes any remaining work agreed on in the contract, and the Notary Public conducts the necessary legal searches. A few short months later, the commercial property is all yours!
For small businesses, it is preferable to rent commercial property if the financial capital is not sufficient. However, for larger companies, it is preferable to buy commercial property as the business is more dependent and sustainable.
It is possible but it will be necessary to have a registered office and a local registration. And EU nationals must prove that they have been resident in Malta for at least five years or obtain a specific permit if this condition is not met. Read more about the types of commercial investment programmes available.
In addition to the cost of acquiring the business premises, the entrepreneur must plan for notary fees, property insurance, property taxes and maintenance work.
Office space needed from which you can operate your business in Malta, mainly depends on how big your business is. However, offices available for sale or rent in Malta or Gozo usually consist of an open space, count about 7m2 per person, for closed offices, count 12.5 m2 for this surface, for a meeting room, count about 2m2 per person. Finally, the common areas should not be neglected, they represent about 20% of the total surface of your offices.
St Julian’s, Sliema and Valletta are the most attractive areas but also the most expensive in terms of Malta real estate. However, it should be considered that these are the busiest areas, hence, offer the most value.
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