Buying Property
Buying a home is one of the most exciting experiences in your life, especially when one is a first time buyer. You need to be guided by experienced consultants who will assist you to find your dream home. Our consultant skills will ease your purchasing tension and therefore will conduct a smooth transaction.
At Damcar Properties Ltd, we will guide you through all the necessary steps and procedures that one will need when buying a home. We assist in services by notaries, architects, financial advisors, turnkey contractors and to other works that are related with real estate.
Before you start looking for a property, we suggest that you consider the following:
What is your required property ?
Where are your preferred localities?
What size of property do you require?
Do you prefer your home to be finished or in shell form?
What is your budget?
You should start off by searching for some properties in the Property Search section. This will help you with some ideas of what is available on the market.
For best results, we recommend that a meeting with our well trained consultants be fixed, to discuss your requirements more profoundly.
Stamp Duty
3.5% on the first €116,469 (Lm50,000) of the immovable property contract price (this is only applicable for the first residential home).
5% on any amount over €116,469 (Lm50,000) of the immovable property contract price.
For any other property purchased, Stamp Duty is charged at 5% on the total value of the property.
1% of the Stamp Duty is to be paid on signing of the preliminary agreement (convenium) and the remaining on signing of the final contract.
Non-Maltese citizens pay 5% on the final deed.
Notary Fees
The Notary who is normally chosen by the purchaser would normally charge an approximate fee of 1% of the immovable property price.