Foreign Nationals wishing to purchase property in Malta, whether as a holiday home or permanent residence require an AIP permit (Application for immovable property) which is issued by Government of Malta to purchase and can only purchase one property in their name.
To attract more Foreign Nationals to purchase property in Malta, the Maltese Government introduced the status of “Special Designated Area” or SDA for short.
This status was given to specific developments where the Maltese Government made it easier to purchase property by granting certain concessions. The requirement of an AIP condition was dropped, and any foreign national could purchase without any restriction more than one property in their name, or in a trust, Company or Offshore Company.
These Special Designated Areas, later known as Lifestyle Developments comprised mainly of highrise developments of luxury apartments and penthouses designed to include an array of dining and entertainment experiences as well as optimal work facilities and leisure amenities.
To date there are 14 SDA Areas or Lifestyle Developments in Malta & Gozo.
Portomaso and Tigne Point were the first landmark SDA’s built in 2000 and 2005, followed by Fort Cambridge, Pender Gardens and Mercury Towers which are all situated in the neighbouring cosmopolitan towns of Sliema and St. Julians, earmarked as the entertainment hub of the Island with its various restaurants, bars, and night clubs.
To date Portomaso and Tigne Point are the most popular, set directly on the waterfront away from the busy traffic enjoying panoramic sea views of the Mediterranean.
Tas-Sellum and Ta’ Monita Residence, Madliena Village, St. Angelo Mansions, Southridge and Shoreline make up the remaining Lifestyle Areas situated in the north and south of the Island.
Gozo offers three prime unique developments. Kempinski Residence is set within the valley of San Lawrenz close to the iconic Dwejra Bay, Fort Chambray is perched on high grounds overlooking Mgarr harbour and Vista Point is situated within the picturesque seaside town of Marsalforn.
These Lifestyle Developments hold address to the most expensive real estate in the Maltese Islands.
Learn more about the Individual Special Designated Areas (SDA) in Malta and Gozo here…..
View available properties within the Special Designated Areas (SDA) here
