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Northern Malta · Investment Guide
Investing in St Paul's Bay
The busiest property market in Malta by volume, and the one most shaped by tourism, holiday letting and apartment stock.
171New homes approved, Q1 2026
85Promise of sale, Jun 2026
70Final deeds of sale, Jun 2026
138Busiest month for sales, Oct 2025
The case
Why investors buy in St Paul's Bay
The San Pawl il-Baħar local council takes in Buġibba, Qawra, Xemxija and Burmarrad as well as St Paul's Bay itself, and together they trade more property than anywhere else in the country. It is a market of apartments, built at scale along the bay over several decades.
Demand is split between two audiences that rarely overlap: holiday buyers and seasonal letting on one side, and a large permanent population renting year round on the other. The second is what carries the market through the winter and is the more relevant one to most investors.
The figures on this page are the whole council’s, and the homes shown further down are drawn from the same area, so the two describe the same place. Within it, quality varies enormously between blocks and between streets, which is where the work is for a buyer.
Find me an investment in St Paul's BayA few questions, then we do the looking.
The numbers
Market activity in St Paul's Bay
Final deeds of sale
Completed sales in St Paul's Bay have ranged from 60 to 138 a month since 2024. The past twelve months carried 1160 in total, up from 964 in the twelve months before that.
Promise of sale agreements
Promise of sale agreements, the deals in progress ahead of a deed, have ranged from 59 to 144 a month. The past twelve months carried 1270, up from 1084 in the twelve months before that.
Source: National Statistics Office (Malta), residential property transactions.
The supply pipeline
How St Paul's Bay compares
171 new dwellings were approved in St Paul's Bay this quarter, 2nd of the 68 localities the National Statistics Office reported. That is one of the largest approved pipelines in the country, and it is supply on its way to weigh against demand.
Sliema
322
St Paul's Bay
171
Birkirkara
154
Mosta
149
Qormi
126
Msida
120
Marsaskala
112
Fgura
111
Source: National Statistics Office (Malta), residential building permits, Q1 2026.
Rental demand
Where the tenants are
St Paul's Bay holds 13.76% of all active residential rent contracts in Malta, the 1st-highest of any locality, a sign of how deep the tenant pool already is here.
St Paul's Bay
13.76%
Sliema
6.96%
Msida
6.03%
Marsaskala
4.46%
St Julian's
4.4%
Birkirkara
4.25%
Gżira
4.17%
Swieqi
3.45%
Source: Housing Authority (Malta), Malta Rent Calculator, H1 2026. Reconstructed from the published tool's own chart, not a downloadable table - see data/README.md.
Run the numbers
What it costs to buy in St Paul's Bay
Enter a price and see the deposit, stamp duty and notary costs a Maltese purchase actually carries.
€
25%
The regulatory minimum for this buyer type is 20% - adjust the slider to match your own lender's terms.
Deposit€75,00025%
Stamp duty€15,0005% of the price
Notary fees€3,000-€10,500
Monthly repayment€1,07430-yr term at 4%
Cash to complete€93,000 -€100,500
Open the full finance calculator →Indicative figures based on standard Malta rates and a 30-year term at 4% - not a mortgage offer or financial advice. For income-based affordability, joint applicants and a shareable scenario, use the full finance calculator.
Buy-to-let
Investment-grade homes in St Paul's Bay
Homes on the market now that suit a rental or resale strategy.
Costs & incentives
Tax, costs and residency
The rules and schemes that shape the return on a Maltese property investment.
Rental income tax
Rental income can be taxed at a flat 15% final withholding rate in Malta, a simple and competitive regime for landlords.
Residency by investment
Buying or leasing property can form part of Malta’s residency routes for non-EU investors, alongside the other requirements.
Short-let licensing
Short-term holiday letting is possible but licensed and regulated. Long-let is the simpler route for most investors.
Good to know
Investing in St Paul's Bay, answered
Is St Paul's Bay a good buy-to-let?
Yes, and unusually it supports both strategies: seasonal holiday letting and year-round tenancies to a large resident population. St Paul's Bay accounts for 13.76% of Malta’s active residential rent contracts.
How active is the St Paul's Bay property market?
Between January 2024 and June 2026 the National Statistics Office recorded 2635 final deeds of sale and 2973 promise of sale agreements in St Paul's Bay, a monthly range of 60 to 138 completed sales. The busiest month in that window was Oct 2025, with 138.
Is much new build coming to St Paul's Bay?
171 new dwellings were approved in St Paul's Bay in the first quarter of 2026, 2nd of the 68 localities the National Statistics Office reported. That is among the heaviest new-build pipelines in Malta, so expect competition from new stock.
Can foreigners buy property in St Paul's Bay?
Yes. Non-residents can buy in Malta, usually through an Acquisition of Immovable Property permit, though many apartments in designated areas are exempt and Special Designated Areas carry no restriction at all. We can confirm the position for any specific property in St Paul's Bay.
What are the total costs of buying?
As a rule of thumb, budget around 5% stamp duty plus notary fees, searches and any agency or legal fees. Off-plan and first-time purchases may qualify for reduced duty, so check the grants and schemes for the reliefs that currently apply. The calculator above works the figures through for a given price.