Southridge
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Overview
A luxury hilltop development on Mellieħa’s outskirts in Malta, consisting of 5 apartment blocks with 52 units. All units are large 2-3 bedroom layouts with expansive terraces overlooking Mellieħa Bay. The project includes a pool and garden areas.
Building/Community Amenities
- 24/7 Concierge
- Balcony / Patio / Terrace
- Bar / Lounge
- Cafe / Coffee Bar
- Clubhouse / Resident Lounge
- Garage Parking
- Garden / Courtyard
- High-End Finishes (e.g., Marble, Granite)
- On-site Retail / Shops
- Parking
- Pool
- Private Dining Room
- Private Pool
- Rooftop Deck / Terrace
- Smart Home Technology
Investment Insights
Legal & Ownership
Legal & Ownership Information
Ownership Structure
Ownership Rights
Full ownership rights (Freehold)
Foreign Ownership
Foreigners can purchase property in Malta, but there are specific conditions. Non-EU citizens must obtain an Acquisition of Immovable Property (AIP) permit, which outlines the property usage and ownership terms.
Tax Considerations
Property Taxes
property tax is levied, but there is a capital gains tax of 8% on profits from property sales, applicable if the property is sold within five years of purchase
Transfer Tax
stamp duty of 5% on the property value
Inheritance Tax
capital gains tax of 8% on profits from property sales, applicable if the property is sold within five years of purchase
Important Considerations
Restrictions
- There are no restrictions for EU citizens buying their primary residence; however, purchasing additional properties requires an AIP permit.
Required Documents
Financing Options
Financing Options
Financing in Malta
Malta offers a range of property financing options for foreign buyers, making it an attractive destination for real estate investment. Typically, foreign buyers can expect loan-to-value (LTV) ratios of up to 80%, allowing substantial leverage in property purchases. The Maltese property market is appealing due to its robust legal framework, stable economy, and competitive mortgage rates. Whether you're looking for a holiday home or a long-term investment, understanding the nuances of Malta mortgages will help you navigate the process smoothly.
Requirements for Foreign Buyers
- 1Valid passport
- 2Proof of income (such as salary slips or tax returns)
- 3Recent bank statements (usually last 6 months)
- 4Credit history report
- 5Property valuation report
- 6Proof of address (such as utility bills)
- 7Employment contract or business registration (if self-employed)
