Whether you are an EU or a non-EU National, Special Designated Areas give you the opportunity to purchase property in Malta – in some of the most beautiful parts of the island.
Malta and Gozo’s Special Designated Areas (SDAs) are luxury developments in prime locations that can be acquired without the need for an Acquisition of Immovable Property (AIP) permit. This means that both EU and non-EU nationals can purchase any number of properties in these areas, and that they can be leased out (at a 15% tax rate) without any additional legal or governmental requirements.
There are currently a limited number of SDAs across the islands, with most located on Malta and three on its sister island, Gozo. All of them offer upmarket properties like villas, apartments and penthouses, and often come with complementary services, such as porter and reception, underground parking facilities, and a communal pool.
Two of these SDAs are the brand-new The Shoreline within SmartCity in Kalkara, Malta, and the picturesque Fort Chambray in Għajnsielem, Gozo.
The Shoreline is the result of Phase Two of SmartCity, a technology park that has redefined the status of Kalkara in the south of Malta. The area, in fact, is gaining even more ground thanks to recently-announced projects in the area – such as the tunnel leading from the airport directly to Kalkara.
The luxury complex itself, which is set to include villas, studios, penthouses and one-, two and three-bedroom apartments, will have unobstructed views of the Mediterranean Sea, and is only a 25-minute drive from the capital, Valletta. Moreover, given that it is not yet complete, buyers and investors are still able to choose from a number of finishes available.
“The prices are also incredibly fair for property of this kind and in such an area,” says Gordon Dalli, manager at Dhalia’s Fgura branch. “Also, with it being situated by the water’s edge, buyers have a guarantee that their views will always remain unobstructed.
“Finally, there is also the fact that at The Shoreline, the ground rent can be redeemed directly through the government, making the buyer and/or investor the ultimate owner of the building, which is not common for SDAs in Malta.”
The Shoreline is expected to be completed in around three years’ time.
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!”
Availability at Fort Chambray is quite limited.
Property within Fort Chambray is already available, and the SDA is currently undergoing Phase Two (of Three) of the renovations and building.