Specialised property letting consultant Giovanella Abela offers her advice to those who would like to rent in Malta, as well as to local landlords.
When foreign companies set up in Malta, they are often also looking for residential property to rent in Malta, whether for themselves or their employees. This has led to a substantial increase in demand for rental properties, particularly in areas close to their offices.
“Most foreigners prefer to rent when they first get to Malta, as this gives them the time to get to know the island. As property consultants we definitely encourage this, as it helps them to make far more educated choices further down the line when they do opt to buy.”
Giovanella explains that most newbies to the island choose to base themselves in Sliema or St Julian’s. “That said, others prefer to be nearer to their place of work, and that could be anywhere. For instance, Luqa is really picking up when it comes to rentals, thanks to the increase in foreigners working at the airport or Skyparks.”
With this in mind, Giovanella stresses that there is often the need for new properties to rent in Malta, as there are times in the year when it can be difficult to find homes in certain areas or within particular price brackets.
“I believe landlords need to consider investing in a vaster range of properties for rent in Malta, so that we can continue to diversify the market. There is a market for everything and owners need to better understand this.”
Asked for further advice for local landlords, Giovanella recommends preparing a rental property in the same manner you would if you were going to live in it. “The more detail that is put into a property, then the more a tenant will feel at home and be encouraged to choose your property to rent in Malta. This can really make the transition easier for all concerned,” she adds.
Investing in rental property is highly encouraged at this crucial time, as the property market is booming and the demand for properties to rent in Malta is on the increase.