Gozo is the sister island to Malta. Although it is much smaller, this little island packs a punch when it comes to culture and beaches. Visitors will confirm that life in Gozo is tranquil, due to the island’s rural nature.
Why invest in Gozo?
We put together a quick summary on the status of the Gozitan property market, according to data compiled by KPMG and our own records.
At the moment property in Gozo is more affordable than its counterpart in Malta, however property prices are slowly moving upwards making it an excellent investment opportunity. The price of a finished apartment in Gozo is, on average, around €1500 – 1700 per square metre. The price for a typical two-bedroom holiday apartment starts from around €135,000. Expect to pay around €180,000 for larger apartments, penthouses or apartments with country views.
Tax reduced to 2%
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 this year.
A growing market
In terms of property types, Gozo has a greater stock of traditional properties, especially houses of character, townhouses, and farmhouses. Currently, Gozo has a lower relative volume of apartments and penthouses than Malta, however, the number on the market is set to rise with a number of small developments currently under construction.
Purchasing property in Gozo is a great idea because you can rent out your holiday home for short lets while you aren’t using it. This is especially attractive for farmhouses with pool, which offer a good rental return during the high season.
Advantages of buying property in a Special Designated Area
Both EU- and non-EU nationals can purchase property with the same rights as a Maltese citizens. Purchasers may opt to lease out their properties and enjoy capital growth and rental yields.
Fort Chambray, Gozo
Fort Chambray is an old city within a fortress, and also one of Gozo’s three Special Designated Areas. Built by the Knights of St. John 250 years ago, it was the centre of defence for the island’s inhabitants.
The development comprises of a number of new residential blocks and some original defence structures which have been restored. The buildings have been constructed from limestone by local tradesmen using traditional methods. The entire development has been carefully structured to create a traditional village core environment. Fort Chambray combines the traditional and the modern into a unique upmarket development within a fortified city.
Dubbed as ‘one of the most exciting property investment opportunities in the Mediterranean and Europe’, Fort Chambray is an SDA built within a fortress that dates back to the time of the Knights of St John. Situated in Għajnsielem and overlooking Mgarr, Fort Chambray is a great example of a development that looks towards the future while respecting the past.
Here you will find villas, ground floor apartments, and duplexes for purchase, with investors already listing some of them on Booking.com and Airbnb.com. Highly-finished but unfurnished – although some resales do come furnished – this has become one of the most desirable postcodes on the island.
“It’s the only SDA of its kind on Gozo,” adds David Sultana, the Manager of Dhalia’s Rabat branch in Gozo. “The setting is spectacular, the view is breath-taking, the communal pool is the largest of its kind on the island, and, best of all, it’s freehold – which means buyers also own a percentage of the common parts!”
This is your chance to explore the beauty of Fort Chambray in Gozo. For the first time, a number of properties within the historic complex will be available for viewing, so you can see for yourself what it’s like to call Fort Chambray home.
Whether you’re looking for a holiday home, rental investment, or a comfortable place to retire, Fort Chambray ticks all the boxes.
When: Saturday 25th & Sunday 26th January, 10.00-17.00
Meeting point: 11b5s, Fort Chambray (follow signs)
If you prefer to book your time slot, contact our Gozo office:
David Sultana 79205520
Gozo office 20171801
Or email email@example.com