There are many factors that go into deciding how much a flat in Gozo will cost you. These include rents, price per square meter, and location. Below we will look at the main factors. If you’re a foreign buyer, knowing how much a Gozo flat will cost you can be crucial. You’ll be surprised to learn that the average asking price for a Gozo flat is more than five times higher than the national average.
Price per sqm
The price per square meter of a flat in Gozo varies, depending on the region. Most of the more popular villages offer inexpensive shell apartments, though it is possible to find decent quality property in lower price brackets. The average asking price for a Gozo apartment is around EUR1475 while the average in the Northern Harbor is EUR3006 per sqm. The high-end properties in St Julian’s, Sweetie, and Sliema command high prices.
Prices for farmhouses and apartments vary widely, but they are generally more expensive. These large, old-style buildings feature several bedrooms, and can even have a back or inner courtyard. These properties are perfect for extended families or business meetings. Gozo is also easy to purchase for foreign nationals, and the Maltese government makes the process easy. Foreigners are welcome to buy property latest properties for sale in Gozo, as the government makes it so easy for them to get residency status.
Average asking price
The average asking price of a flat in Gozo is EUR1475 per square meter, while the Northern Harbor region averages EUR3006 per square meter. In some areas, such as St Julian’s, Sweetie, and Sliema, high-end apartments command extremely high prices. In these areas, you may find shell apartments that will require renovation. If you’re interested in real estate investment in Gozo, you’ll want to consult an estate agent.
Prices are generally higher for farmhouses in Gozo, but they are less common. Traditional townhouses in Malta can cost more than EUR3, 000 per square meter. In contrast, a flat in Gozo will cost approximately EUR1, 736, making it an ideal place to retire and enjoy the island life. The Maltese government is making it easy for foreigners to purchase property in Gozo, making it an ideal place to purchase a second home or holiday home.
Rents
Before you decide to move to Gozo, it’s worth considering how much rent for a flat in Gozo will cost. Utility costs such as gas, electricity, and water are included in the rents. Internet access, meanwhile, adds another EUR25 to the monthly cost. Most rentals are fully furnished, but you may have to invest in furniture. You can also stay on Airbnb’s for the first couple of months until you’ve finished all the paperwork.
The second largest Maltese island, Gozo is known as the “sweet island” because of its scenic hills. The Azure Window, a limestone arch, is one of Gozo’s most famous attractions. You can find affordable rental properties here, including flats with sea views, in the capital city of Victoria. If you prefer the secluded countryside, you can rent a farmhouse in Gozo, which is typically in a rural setting away from the bustle of city life.
Location
A flat in Gozo can be located in any part of the island. But there are certain factors you need to consider when choosing a location. Gozo is an older island, and if you’re considering buying a property there, it’s important to be aware of the fact that you may not get all of the modern facilities that you’d expect from a modern property. The most important thing to bear in mind is that Gozo does not have much construction space, so a flat in an old villa or farmhouse might not be equipped with everything you’d like.
Conclusion
Modern villas are also popular in Gozo, especially if you’re looking to buy one for a large family. These typically have over four bedrooms and are renovated, so you’ll have to pay a bit more to live in a farmhouse. These are the perfect choice for families or retirees looking for peace and quiet. Buying a flat in Gozo is easy and affordable because the Maltese government makes it possible for foreigners to buy property here.