Letting and the iGaming Industry
This page provides a brief history of the affect that the iGaming industry has had on the letting market in Malta in that it explains how the quality and the availability of apartments and homes for rent in Malta have improved over more than a decade.
You will also review how RE/MAX Lettings has adapted to the demand in the market and have led the way in terms of servicing the iGaming Industry.
Quality and Availability of Rental Properties
Over the last fifteen years servicing the iGaming industry we have seen a sharp increase in quality, not only in the furnishings, design and finish of properties but also in the quality of the service that is being delivered to the staff, management and the executives of iGaming companies.
The demanding Northern European who expected nothing less than the same modern, minimalist style, which they were accustomed to in their own countries, mainly drove this upsurge in quality of homes. As the increase in demand for properties from the iGaming industry continued to increase at a rapid pace Maltese investors started to see the opportunity to buy properties for the sole reason of letting them out. These new homes were mainly purchased with the main requisite to accommodate for the Industry. This trend continued with the investment in commercial office space and today Malta has some of the most sophisticated office space available in Europe.
The influx of iGaming companies that were literally packing their bags lock stock and barrel and moving to Malta also caused a need for new blood within the real estate sector. We were the first company to hire five or six associates to cater for this demand but as time went on more real estate agents sprouted up and our main competition started to take the letting market more seriously which triggered them to begin to hire more and more agents. Our commitment to excellence had never been lessor and as the competition started to grow so did RE/MAX Lettings.
Today, we have a team of twenty associates catering for several different sectors but iGaming has consistently topped the charts as one of our main type of clients. The investment in human resources in the form of training has never been so important in such a buoyant market, where over the last seven years we have had an exclusive real estate trainer gauging our service and building training programmes to suit our needs.
The letting industry is very close to our hearts. As a matter of fact before we founded RE/MAX in Malta, we were J&K Properties or better known as “The Letting Specialists”. In 1999 we opened the first fully-fledged letting agency in Malta, which catered for every need of a relocating individual or company. In life one should never forget their routes and whilst we have become the largest real estate company in Malta and Gozo with over 220 sales and letting agents, letting has always been central to the success of the company.
Our letting team has grown tremendously over the years however we still have most of the original team intact. Those that are not with us in letting have moved on to sales or have left the business. Our letting manager, Edward Agius, has been with us for fourteen years and continues to treat letting in the same way my brother and I built the team as the number one rental company in Malta.
Our investment in the iGaming industry cannot be questioned. Over the years we have exhibited at ICE, organised iGaming Socials, have coordinated 5-a-side football tournaments and for the past six years have been a founding partner of The Malta iGaming Seminar (MIGS).
Malta iGaming Seminar
MIGS was originally organised by five companies with a main objective to attract new business to Malta. The event has evolved into a Global conference attracting over 400 delegates, International experts, major sponsors and has been recently been rated as one of the top ten-iGaming conferences to attend. This success has been without doubt not possible without our partners BMIT, Aliquantum Gaming, E-Gaming Brokerage and Capstone Group, an excellent team in their own rights all-aiming for the same purpose, to improve the knowledge base for the iGaming industry.
Malta as an iGaming jurisdiction is an excellent choice. If not for the favourable tax or the affordable competent local skills, the lifestyle is second to no other and is a place that will ensure that any employer will retain its work force. Ten months of sunshine, excellent seaside accommodations, an array of different entertainment venues, restaurants galore and an airport that reaches any destination in Europe within three to four hours. A small Island that sees over 1.7 million tourists per year and is also home of several major International corporations.
Malta iGaming Authority
The Malta Gaming Authority is also committed to excellence. Recently at our conference, Joseph Cuschieri, Executive Chairman of the LGA, outlined his plan of making Malta the most efficient jurisdiction in the sector whilst he has also ensured that their one of their main objectives is to maintain the reputation of being the most credible.
The property rental market is one that is buoyant. In the history of the letting market we have never seen such an increase in demand. Over the last two years the market saw circa 30% rise in customers looking for property for long-term rentals in the St. Julian’s and Sliema area. This has at times affected the supply levels of properties, however due to managed resources, it is often only limited to the coordination of back-to-back rentals.
Excellent relations with owners, the largest database of properties as well as other on-going efforts to meet this and other challenges have attributed to our consistent success rate. We often reach out to vendors via different mediums not only to guarantee that our client base would be accommodated but also to augur better dealings. Some of these mediums include text-messaging, flyer postings, email marketing amongst others.
Thankfully, over the years, the company has built a database of a number of apartments to let that are available exclusively only to RE/MAX Lettings, which serves very well in every market scenario.
Our agents specialise in different areas so that we may assure that requests are handled appropriately. In terms of commercial office space, the company also has a number of agents that deal hand and hand with office vendors and are well aware of the availabilities.
If you are looking to relocate your business to Malta it is recommended that you seek professional advice from a reputable real estate agent in Malta. For more information do not hesitate to send an email to [email protected]remax-malta.com or you may call +356 99475620.
This information was partially reproduced in the Malta Gaming Authority Publication Gaming Malta 2015.