Buying property on Gozo

Gozo has always been a special attraction to property buyers. The peace and tranquillity of the sister island has, for some years now, enticed both Maltese and foreign buyers to purchase property in many of its charming towns and villages.

Gozo is completely different from mainland Malta. The environment is different, the properties are different and the local people and their traditions are also different. This is what makes Gozo so special. Some property buyers tell us they fell in love with the island as soon as they landed at Mgarr Harbour and drove to Victoria, making their way through clean roads flanked by vast areas of green cultivated fields and small, attractive town houses.

Some call Gozo "the island where time stood still". Visitors frequent the island throughout the year. In summer people flock to the island's beautiful, clean beaches and bays while winter offers spectacular country walks.

Although the island has mainly to survive on its tourist industry, thankfully development has not had much impact on the environment and the island has retained its charm and character.

Over recent years, interest from Maltese buyers has increased considerably, mostly for use as holiday accommodation or for weekend breaks. Some have even purchased property in Gozo for investment purposes since demand for the holiday rental of properties, particularly old farmhouses, is steadily increasing among both Maltese and foreign holiday makers.

The charm of the island has also caught the eye of many a foreign buyer. Similarly to local buyers, foreigners are attracted by the peace and tranquillity as well and by the culture and traditions that abound.

Most of these buyers purchase property for holiday purposes, visiting the island a number of times during the year, while others have made Gozo their permanent home.

For quite a number of years, foreigners have taken up permanent residences on Gozo and are spending their retirement mixing with the local people, some also contributing to the island's development.

The largest community of foreign residents is British, however there are also a good number of German, Swiss and Italian residents.

The property market in Gozo is mostly made up of apartments, farmhouses, town houses and houses of character. Not many villas are available on the island mainly due to the fact that land is scarce and expensive.

A good selection of converted and unconverted farmhouses are on offer. These are highly sought after properties. Most unconverted properties are in their original state, still retaining the old arches, mangers, flagstones, etc. Gozitan craftsmen are renowned for converting these properties into wonderful homes.

One can see a number of such properties lying abandoned throughout most of the Gozitan villages.

Unfortunately many of the owners of these properties have passed away, leaving the property to their heirs, the majority of whom have emigrated to Australia and Canada, and who are not interested in selling - consequently leaving their properties to deteriorate. Slowly these properties are, however, coming on the market.

Other properties sought after mostly by Maltese buyers, are apartments with views or those situated in popular holiday locations like Marsalforn and Xlendi. Xaghra, Zebbug and Nadur have also proven to be very popular locations with Maltese buyers, where a number of apartments built on the cliff edge commanding superb views are available.

Prices are quite realistic and a good selection is on the market to cater for all budgets.

Gozo property will appreciate in value over the years as long as the island retains its charm and character... Spend then a few days on the island and possibly view some properties. You will know exactly what I mean!

Mr Lupi is managing director, Frank Salt Real Estate Ltd.