11 Reasons Why You Should Buy Gozo Property This Year
As Malta’s smaller sister island, Gozo is sometimes forgotten in the hype around Malta. The island’s strengths lie in what sets it apart – stunning natural beauty, an unspoiled traditional lifestyle, and a distinctly relaxed pace.
Looking at the island as an investor, there are many great reasons to purchase property in Gozo – and there has never been a better time than now. Have a look at our list of 11 reasons to buy property in Gozo.
Property in Gozo is cheaper than in Malta. Where else could you find a 3 bedroom apartment with pool access and incredible views, for just €83,000?
Many locations for foreigners to choose from. There is no doubt that it attracts many expats due to its incredible beauty. Those wishing to purchase property in Gozo here have plenty of options and can benefit from a variety of Special Development Areas.
Your choice of lifestyle. Looking for something quiet and picturesque? Or something in the buzzing capital of Victoria? Seaside or country? Gozo has it all.
2% tax benefit. The Maltese government is offering a limited time reduction in stamp duty from 5% down to 2%. This applies to those purchasing residential property in Gozo by the end of 20202. The Promise of Sale agreement must be registered with the Inland Revenue Department by the end of 2020 for the offer to apply.
Discounted travel. It’s a well-known fact that the Maltese don’t like long journeys. However, a trip by car from Gozo to the centre of Malta only takes 1 hour and 15 minutes. As a Gozo resident, you can also benefit from lower ferry fares.
Summer home. Many Maltese (and foreigners) purchase their holiday home in Gozo, where they stay during the summer months. This is a great option as owners can rent out the property when they’re not there and enjoy the incredible beaches and relaxed summer life in Gozo.
Retirement Hotspot. Just like the mainland, Gozo attracts its fair share of foreign retirees. It’s not difficult to see why Gozo has captured the hearts of the British as an ideal retirement location.
Safe. Mainlanders sometimes joke about Gozo being so laid-back that residents leave their keys hanging from the front door. We’re not sure if this is strictly fact or a bit of whimsy, but Gozo is definitely a pinnacle of safety. Violence, petty crimes, and burglary are extremely rare and really shouldn’t worry you at all.
Cultural hotspot. From the opera to the ancient temples, there’s always something to do in Gozo. Check out our activity guide below for more tips on what to do in Gozo.
Huge variety. The variety of properties available in Gozo is fantastic, which means that you’re highly likely to find what you’re looking for within your budget. Gozo farmhouses are very popular because they’re part of the agricultural tradition. Villas in Gozo are also a great choice for the luxury buyer, especially because they guarantee plenty of outdoor space.
Specialist guidance. Gozo residents prefer to be known as Gozitans rather than Maltese because Gozo is an island in its own right with its own identity. For this reason, when purchasing prospering in Gozo you should go directly to the experts. Only Gozitan property consultants will be able to give you an authentic first-hand description of the different localities.
Dhalia has two offices in Gozo, one at the Duke and another at Republic Street, Victoria. Branch manager David Sultana will cheerfully chat with buyers about the best properties in Gozo.
There is so much variety to choose from when looking at property in Gozo. For friendly guidance, get in touch with Dhalia’s Gozo team by calling David on 00356 2155 1984, or emailing vic@dhalia.com.
