When it comes to buying a property, the main factor is always the amount of money you have saved and how much you are planning to spend. Affordable property can be defined in two ways. If you have piles of money in your bank account, then a luxurious Penthouse in Sliema for a million euros might be a great bargain. And for someone on a tight budget a cozy 2 bedroom Apartment in Zurrieq for under 200K euro can be the perfect option.
Let’s face it, the most desirable areas of Malta like Sliema and St Julian’s are usually too expensive for most first-time buyers. Finding a stunning bargain there is still possible, although it’s against the odds most of the time.
Affordable homes can still be found in different areas across the Maltese island. However, to call a property “affordable”, there is usually a reason for this. It might be its location or condition. If a property needs to be renovated and redecorated, more expenses will be added to the list. No one enjoys the hassle of mods and upgrades, right? The faster we get into our new,budget-friendly home, the happier we are.
In this article, we have included 9 of the most popular and, of course, budget-conscious areas in Malta for your new property.
We mentioned it earlier as an expensive one, but there are still some gems for under €200,000. For example, there you can find a 1 or 2 bedroom Apartments for €180,000 in a good condition, ready to move into. Most of them enjoy an open-plan layout and a balcony. They are perfect for singles or couples who would love to live in one of the most desirable areas for tourists.
Here you can find 1 bedroom Apartment for only €125,000 in shell form. This is an ideal location for students who are looking for a rental as well. For around €40,000 more you can come across a finished and even furnished Apartment.
The Three Cities
In the harbor, Cospicua, €128,000 can get you a party furnished 2 bedroom Apartment with your part of the roof.
St Paul’s Bay
Another top location to buy a property is Malta! In this famous area among the luxurious properties, there you can find an affordable, furnished 2 bedroom Apartment with prices starting from €125,000.
In Mellieha, there is a well-kept 2-bedroom Apartment, located a few minutes away from Ghadira Bay, for €169,000. You should also consider adding some more to your budget as it comes unfurnished.
Not only does Marasxlokk have a stunning harbor, full of the traditional, colorful Maltese boats, but it also has some must-see properties. Their prices start at €170,000 for a 2 bedroom Apartment in a shell form with views and a terrace.
Gozo – Marsalforn
You will love the prices here! They start from €92,000 for a 1 bedroom Studio. meters away from the seafront, with an open plan layout and a balcony.
The bottom line
Despite the increasing prices of properties in Malta and Gozo in recent years, the best time to buy a property in Malta is now! A few months from now all of these properties might cost even higher.
Your new home is waiting for you out there! So, make sure you are clear about your requirements, wants, and needs and start the house-hunting as soon as possible. Good luck!
CEBI, Level 3, Dar Ġuzeppi Zahra, University of Malta, L-Imsida MSD 2080, Malta
+356 9908 3055