Gozo real estate has become the preference for many a property investor due to its laid back lifestyle and charming character. With transport links constantly improving and amenities on offer this beautiful sister island offers a unique investment opportunity with desirable returns.
Is property expensive in Gozo?
Farmhouses and Houses of Character make up the most sought after properties on the Gozitan market. These traditional houses offer the buyer a true sense of place with their historical features and are enhanced by spacious outside entertaining areas. Due to limited supply and high demand these properties command premium prices.
The newer lock-up and go types also enjoy a healthy market sector as do apartments in the right location. These can be found in the popular villages of Mgarr, Qala, Xlendi and Marsalforn where tourists tend to stay. These properties are highly sought after by those looking for a quieter lifestyle while still being close to the hustle and bustle of Victoria.
Across all regions asking prices per square metre for Gozo property types have shown an increase. The exception is the Northern Harbour region which has seen a decrease. This may be the result of value recovery in property types most impacted by Covid.
The residential rental market shows a steady rise with apartment yields ranging from 4-5%. This is primarily due to the increasing demand for these properties which can be leased out as tourist private accommodation or used for short-term rentals.