Finding that Special rental property
With so many different types of properties available in Malta’s numerous towns and villages, how are you meant to know where to start? This guide should help!
There is no doubt that renting a property in Malta for long term can be just as much of a mission as it is to buy one. And with so many different options available, it’s very easy to get lost – particularly if you’re not a local. The process, however, works very similarly to that of renting a property abroad, and the options are just as varied.
Without a set budget and an idea of what you’d like to rent out, it’s very difficult to find the right place that meets both requirements. Here we are going to provide you the valuable information so that you can make an informed decision.
Just like in any other country, property for rent in Malta ranges from studio apartments in the heart of busy cities to vast villas / luxurious apartments overlooking the countryside or the sea.
What are you after?
A Studio / 1-bedroom Apartment will put you back a minimum of €450 per month in the outskirts of the main towns and can go up to €800 – €1200 per month. This would place you slap dash in the middle of town, within a luxury resort.
Apartments with 2-bedrooms start at € 600 per month, again located on the outskirts of the main towns. The higher you spend the further you will find yourself closer to the hustle and bustle. 3-bedroom apartments start at €750 per month and can soar to 000’s of Euros. The style and finishes vary depending on your set budget, though to assist you even further one should check out the latest featured homes for rent to get a better idea of interiors.
If you are looking for something that is more in the upmarket rental category, such as a 2/3-bedroom Villa with/out pool, in Malta you are looking at a minimum of €2000 per month, which will land you a standard villa without any bombastic modern features. From this point the sky is the limit and if you ever thought a small Island like Malta did not have the dream home your after, you will be proven wrong. On these Islands you will find anything; a 4-century year old converted houses, Victorian Terraced Homes, SKY Villas with infinity pool, triplex penthouses amongst other types.
Where to live?
Some people know exactly where they want their rental to be, while others are not as fussed. This isn’t a prerequisite of finding a place, but it does affect the overall budget and outcome. Property in main centre such as St Julian’s, Sliema, Valletta and Ta’ Xbiex, for example, is more expensive than in other parts of the island; and, in some of them, the range of property is not as wide either. Palazzos can be found in Valletta but are much harder to come by in St Julian’s (if ever), so knowing where you want to live can help you determine whether you will manage to get what you want for the budget you have. You can find a home in the country side, or else on the Island of Gozo – unfortunately the sister Island of Comino only has one inhabited home.
Other main Towns include Marsascala and Birzebugia that are located in the south of Malta whereas there are also popular towns in the North such as St. Paul’s Bay, Buggiba as well as Mellieha. Mellieha also has a luxury resort called Santa Maria Estate, which is close to the sea and contains several villas and bungalow, some overlooking the sea. The vast variety that is available is too difficult to include in this blog. We would suggest again to check out latest featured homes for rent to get a better clue of places and property rental prices. There is also a blog on Where Should I live in Malta that may also provide you insight.
Duration of Lease
The length of the lease agreement is also of importance just as the time that you plan to come to live in Malta. If you are planning now it is recommended, in order to find a larger selection of homes for rent ,to relocate between September and May. During these months there are many other properties not tied up with shorter summer lets which provided for a better selection. This of course does not mean that the market is not fast paced but you will tend to get some breathing space. It is also suggested that you rent for a minimum of twelve months because you wouldn’t want your landlord to exercise their right to terminate your contract. By doing so, you will be able to set a rental for a longer period of time, regardless of the appreciation of the local real estate market.
Malta is a small island, but the problems of traffic and rush hour are encountered here, too. It’s important to keep in mind, therefore, just how long you’re willing to commute for each morning and evening. What’s also good to take note of is that the money you may be saving on rent could be spent on petrol later on. It’s not a crucial detail, we know, but definitely something you should ponder. If you are working here and receive an allowance you have to consider all avenues as you don’t want to be left out of pocket.
In reality, however, you shouldn’t encounter any problems when you’re looking to rent out a place in Malta for long term. Indeed, there are now many properties but there are also professional Malta real estate agencies that hire specialised associates, that will guide you through the process from the day you kick off your property rental search.
We hope that this article has provided you some additional knowledge and added value to assist you on your next journey. We hope it will be Malta! If you liked the article please click on the share buttons conveniently placed below.