About Us

WELCOME TO SKYMAR REAL ESTATE

SKYMAR REAL ESTATE was founded in January 2019 with the sole aim to provide the best service to buyers and sellers. Our first office was located in Rabat (Malta), consisting of only 3 Agents. Increasing into a team of 13 Agents, another office was established in Zabbar later the same year. Given the rapid growth in our Company, more offices will be opened with the date to be revealed in the end of 2020. A free valuation and a professional photo-shoot is offered with every listing, and each and every property is treated with will and passion. Having fully trained Agents to serve clients according to their individual needs, we have brokered more than 35 properties in less than 6 months and we are constantly looking for highly motivated full-time Agents to join our team.

Buying Your New Home in Malta

Buying a new home is one of life’s milestones, so it should be an exciting time that goes to plan. However, it can also be stressful and expensive. So how can you ensure avoiding the latter and effortlessly finding yourself in the house of your dreams?

Set a Budget

It is easy to get carried away with the idea of buying a house, but it is vital to live within your means, especially when you think about how many other costs will have to come out of your income, including utility bills and food.


A visit to your bank will help you understand the property price that you can afford. It is likely that your home loan will cover around 90% of the purchase price and completion costs of your home, and it will be worked out in monthly repayments. You will also need to take out life insurance to cover the full value of the property, as well as home insurance.


Bear in mind that some property purchasing fees, such as notary and permit costs, may also need to be covered by your loan in order for you to be able to afford them. It is important to always ask about all the costs you will be charged prior to committing yourself to something (example of some costs you will incur: bank charges, stamp duty, notary charges and architect charges).


Local banks have loan calculators that will help you work out monthly repayments that you can afford. It is a good idea to shop around for the best loan rates and conditions by visiting different banks in Malta. This could make a real difference to the amount you pay.

Find a Property in Malta

Once you know the parameters of your budget, you can start looking for a property.

>You can begin by narrowing down the areas that you would consider living in, as well as the type of home you would like to buy. There are various options on how to search for a property, one of them being through a real estate agent. A good real estate agent will be able to advise you on what you can expect to buy within your budget, as well as give you an idea of the many properties that are available on the market. Plus, with their industry knowledge, real estate agents may also be able to offer information about the best properties and when they become available.

Meanwhile, based on your income and some other contributing factors, you may be entitled to government housing. For detailed information on this and to learn more about whether you qualify, click here.


Buying a Property in Malta

Once you have found your ideal property, you are well on your way to owning your dream home.

After agreeing on a price and this being accepted by the seller, you will go on to sign a Preliminary Agreement, known locally as a Konvenju. This agreement binds both you (as the purchaser) and the seller to the transaction, and specifies a date by which everything must be completed. At this point, you will be required to pay 1% provisional stamp duty as part payment of the full 5% (the balance of which is due on signing of the final deed), and an agreed deposit, usually 10% of the agreed price for the property.

In the weeks after, your notary will carry out necessary research on the property to verify legal title and ensure that there are no outstanding debts, mortgages or liens on the property. Meanwhile, you will need to complete your side of the bargain, by ensuring your bank loan is in hand, as well as any required permits and forms stipulated by the Konvenju, while the vendor will complete all the aspects of their side of the deal.


Once all this has been completed, a date will be set to sign a Final Deed. This will usually be done at your bank’s legal offices, or at the offices of your notary. At this point, the balance of the selling price is given to the vendor, as well as the balance due to the Commissioner for Revenue for stamp duty and the notary fees to the Notary Public.

You will then take ownership of your property. The keys will be handed over and you will be ready to move into your new home!

Within 15 days (as specified by legislation) from the date of the deed of transfer of property, and where the property is in a registration area, your notary must apply for the registration of the property at the Land Registry. This is applicable to both first-time registration and subsequent registration where the property has been previously registered. Your Notary will be expected to provide the Land Registry with a proof of ownership, at least prima facie evidence. This includes the legal document on which your claim is based, such as a deed, an original registration plan and a detailed plan

Following a Promise of Sale Agreement

Once a Promise of Sale is signed, it is to be presented at the Capital Transfer Duty within 21 days of the actual signing. At this stage, a provisional duty of 1% is paid by the purchaser; i.e. if the price declared for a property is €200,000, then the duty payable on contract would be €10,000 and the provisional duty payable would be €2,000. A receipt for such a payment is issued. The market value of the property does not necessarily have to be the same as the price declared on contract. Thus, the duty payable should be calculated on the higher value.

After a Contract Is Signed

Upon signing of the contract, the notary publishing the deed submits the relative ‘DDT1’ form at the Capital Transfer Duty together with site-plans, a copy of the Public Registry note, the stamp duty payment (due by the buyer), the capital gains tax payment (due by the seller) and Schedule 8 (for residential property only). The relative receipts are normally issued not later than 3 weeks from the date of submission of the notice of transfer (DDT1) at the department.

At this stage, an internal departmental board will decide whether an architect is sent to inspect the property in order to establish the market value of the property. Although valuations are carried out professionally, they still remain subjective. For this reason, the law allows a 15% tolerance between the declared value and the market value established by the department’s architect. If the difference between the market value as established by the department’s architect and the price declared is more than 15%, the department will issue a claim (assessment) both to the buyer and the seller.

In the case of the buyer, the claim issued will include the duty due together with the additional duty (penalty). The duty is calculated on the value added by the architect at the applicable rate; the additional duty (penalty) is equivalent to 20% of the duty due. In addition, if the claim is not paid, the transferee shall be liable to pay interest at the rate of zero point seven five per cent (0.75%) for every thirty (30) days or part thereof, which interest shall start accruing after the expiration of three months from the date of notification of the original assessment.

First-Time Buyers

Those acquiring their first property which is intended for their sole ordinary residence are eligible for the exemption from duty on the first €150,000 of the value of the property.

A maximum of €5,250 can be saved upon contract.

This is valid only if no other property has been bought before.

The notary drawing up the contract does not charge the exempt duty.

Selling a Property

Following a Promise of Sale Agreement

Once a promise of sale is signed, it is to be presented at the Capital Transfer Duty within 21 days of the actual signing. The market value of the property does not necessarily have to be the same as the price declared on contract. Thus, the tax payable should be calculated on the higher value.

After a Contract Is Signed

Upon signing of the contract, the notary publishing the deed submits the relative ‘DDT1’ form at the Capital Transfer Duty together with site-plans, a copy of the Public Registry note, the stamp duty payment (due by the buyer), the capital gains tax payment (due by the seller) and Schedule 8 (for residential property only). The relative receipts are normally issued not later than 3 weeks from the date of submission of the notice of transfer (DDT1) at the department.

At this stage, an internal departmental board will decide whether an architect is sent to inspect the property in order to establish the market value of the property. Although valuations are carried out professionally, they still remain subjective. For this reason, the law allows a 15% tolerance between the declared value and the market value established by the department’s architect. If the difference between the market value as established by the department’s architect and the price declared is more than 15%, the department will issue a claim (assessment) both on the buyer and the seller.

In the vendor’s case, only the additional duty (penalty) is charged which is equivalent to 20% of the duty due by the buyer.

Causa Mortis - Inheritance

Causa Mortis relates to the succession of immovable property from a deceased person. The succession of immovable property must be made by means of a deed of Declaration Causa Mortis published by a Notary Public and duly registered in the Public Registry of Malta.

Each heir may go to a Notary Public and make a declaration Causa Mortis for his share only. The heirs are not obliged to make the declaration Causa Mortis together. The declaration Causa Mortis shall contain a statement by the heirs stating the true value of each property or share thereof which is being transferred to them.

Stamp duty to be paid on declarations Causa Mortis is regulated by the Duty on Documents and Transfers Act. To benefit from rebates on stamp duty, a deed of Causa Mortis must be concluded within six months from the date of death. Failure to conclude the Causa Mortis deed within one year from the date of death will result in the incurring of interest on the amount of tax due at the rate of 8% per annum.

As in transfers made by way of Inter Vivos, Causa Mortis transfers are also subject to the usual vetting by the department’s assessors and an internal departmental board to establish the correctness of the workings and the values attributed to the immovable property being transferred.

AIP- Acquisition of Immovable Property in Malta by Non-Residents

The AIP section of the Capital Transfer Duty (CTD) Department is responsible for the processing of applications by non-residents to acquire immovable property in Malta. The section issues permits for those applications which satisfy a number of business criteria.

The Government of Malta had established that the attraction of a larger volume of foreign residents would be of benefit to the Maltese economy and that no significant adverse effects were likely to be exerted locally provided that the inflow of foreign residents was maintained within reasonable levels and the housing stock continued to grow steadily.

The CTD Department has recently embarked on an ambitious programme to enhance its customer service. The premises were upgraded to ensure a better office environment which is also much friendlier to its clients. The department has also invested heavily in Information Technology and has installed a robust infrastructure and many custom-built software systems.