Located on the scorching island of Malta, Mellieha Bay is a charming oasis, adorned by a rich history dating back more than 4000 years. The place is home to renowned historical sites such as the Wonderful Mellieha War Shelter and the Mellieha grotto, which lend a nostalgic air to its sunny shores. Majestic cliffs and colourful landscapes dominate the geography of this exquisite bay, located at the northern tip of Malta and proudly holding the title of the island's largest and most popular beach.
Mellieha Bay real estate market
Currently, the market for exclusive properties in Mellieha Bay is stable, with a sufficient supply of luxury houses and apartments to meet growing demand in the region. The political and economic stability of the bay contributes to this balance, attracting investors and individuals looking for a luxurious residence.
Costs to consider
The average real estate commission a buyer pays when purchasing a house in Mellieha Bay can vary, although the average is around 5%, while the seller usually pays a similar percentage. In addition, the transfer of property involves a 5% tax. Additional costs include notary fees and potential building inspection and legal costs. It is also important to consider the wealth tax applied to home ownership, which is 0.5% to 2%, depending on the value of the property.
Property-related taxes
In Mellieha Bay, a tax on capital gains made when selling a property, be it used as a main residence or as a second home, must be paid. However, the tax rate varies depending on the duration of ownership. The corporate gains tax for companies registered in the bay is 35%, while the income tax for registered residents is between 15% and 35%, depending on the income level.
Mortgage requirements
The general mortgage requirements for buying a house in Mellieha Bay require equity and income proof must be provided. Generally, one can expect to get a mortgage of up to 70-80% of the purchase price.
Residential areas and accessibility
The most sought-after residential areas in Mellieha Bay include the central area along the coast, and surrounding areas offering panoramic views of the Mediterranean. The bay is easily accessible by road and although Malta lacks a train network, the bus network is extensive. Mellieha Bay is located 25 kilometres away from the city of Valletta, and Malta International Airport is the closest, approximately 30 minutes by car.
Community and environment
Mellieha Bay has a population of around 10,000 inhabitants. Its environment offers a charming mix of nature, water and stunning landscapes. The bay also offers numerous outdoor and sporting activities, such as water-skiing, paragliding and even hiking in the nearby hills.
Infrastructure and services
The infrastructure in Mellieha Bay is robust, with numerous schools, universities and training institutions nearby, such as Mellieha College and the University of Malta. The area also boasts a wide range of luxury shops, high-quality restaurants, nightlife, and exclusive entertainment, such as the famous Maritim Antonine Hotel & Spa restaurant. Annual events include the Mellieha Music Festival and the September Virgin festivities. Culture lovers can visit the Mellieha Museum and various art galleries, while healthcare is assured by various hospitals and clinics in the surrounding area, such as the St. James Sanitary Hospital.
In summary, living in Mellieha Bay offers a luxurious living experience in a stunning landscape, backed by robust infrastructure and a thriving community.
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