The property market gozo is a hot one, with people looking for a home, a holiday house or even just to rent out as a short-let during the high season. It’s a popular choice because it can be very affordable compared to Malta and also offers the benefit of lower cost-of-living expenses.
What is it like living on Gozo?
The first step is to find the right estate agent. Make sure that they’re responsive to your needs, professional and well-established, and only show you properties that meet your criteria. They should also be willing to invest in renovations, especially if you are considering buying an older home.
After that, start your search. It’s important to have a clear idea of your budget and the area you want to buy in. Certain areas are more sought after than others, especially the special designated areas (SDAs). These are highly desirable because they’re geared towards expats and foreign buyers. Popular locations include Marsalforn, Qala and picturesque Xlendi.
While Gozo’s real estate market is booming, it may not be for long. It’s still more affordable than the Northern Harbour district, but it’s losing ground to other parts of Malta. Apartments were the only type of property to see an increase in asking price per square metre last year. But prices are still much less than those in Malta’s most expensive areas, which include St Julian’s, Sliema and Ta’ Xbiex.