The Island of Gozo
Formerly known as Gaulos, an island of the Maltese archipelago located in the Mediterranean Sea. It is part of Malta. It is also the second-biggest island in the archipelago behind the Island of Malta. Gozo has a tiny population, totaling just 37,342 as of March 2015. Today Gozo has grown from a small Meditarenean island into a rich safe area. There are many things one should consider before investing in property in Gozo, especially which type, as you can invest in garages sports buildings or private homes. Inhabitants of Gozo are usually known as Gozitans. Gozo is considered rural in character and has a lot of scenic hills, so significant are the hills that they are featured in their coat of arms. Gozo is a center for water sports, and they are very good in diving. Due to it's Special Designated Area status, nowadays Gozo has become a very interesting place to invest in property may it be for retirement or a vacation house.
How to get to Gozo
As a potential investor with interest in Gozo, how to get to the island is paramount. It is not your regular “fly and land at the airport” kind of trip, but that is not to say it is not reachable. When you arrive Malta by air at the Malta International airport, ask for a bus going to Cirkewwa (the main ferry point to Gozo). From there you can board a bus, take a taxi or go by ferry according to your convenience. When in Gozo, you can navigate the island by foot, bus or a car.
Top Reasons for Investing in Property in Gozo
A big selection of people are interested in investing in property, in Gozo. Even though having a property to rent in Malta is a good investment, The hype is usually around Malta which leaves Gozo which is relatively smaller but Gozo draws strength from the fact that it is very safe, has an untampered traditional lifestyle and is relaxed. In recent times, buying property in Gozo has become popular more than ever, so much that owning a land there is worth its weight in gold. Farmhouses are considered the most acquired property and have the highest amount of investments. Looking for the conviction to buy a property in Gozo today? Here are some of them.
- Gozo has been granted the status of Special Designated Area (SDA). A status granted to qualifying developments that enable both EU and non-EU citizens to buy property in Malta with the same acquisition rights as Maltese citizens. No AIP (Acquisition of Immovable Property) required. Added to that is the fact that by the end of 2018, stamp duty for those looking to buy residential property in Gozo will be reduced from 5% to 2%.
- Prices/Costs: In Gozo, the prices for properties are relatively lower than Malta or anywhere else. No matter your budget, expect to find an excellent untapped property to invest in. Property for sale in Malta is cheaper in Gozo. A typical villa for rent in Malta can buy you two apartments in Gozo for rent.
- Great transport services: Malta government work round the clock to provide reliable transport system to and from Gozo, so you don’t have to add transport to the list of your worries. Asides these, Gozitan people are also friendly to foreigners so expect a warm welcome.
- The atmosphere: The atmosphere in Gozo is so serene and welcoming yet subtly vibrant. A host of touristic places, cafes, beaches, and bars where you can unwind and have fun. Also, the village feel cannot be overlooked, fresh fruits and bakeries are never in short supply. Add all these to their cultural diversity, and you won’t be in such a hurry to leave the island. All these niceties make some foreigners purchase residential properties doubling as investments and holiday homes at the same time. You can also buy a townhouse for rent in Gozo instead of Malta apartments for tourist use.
For more information on how to invest in property in Gozo or, to schedule an appointment with a real estate expert, please call +356 7704 7001 or email email@example.com