- The situation in the real estate market in Malta: ...
Apartment rental prices in Malta are gradually stabilizing.
Despite the fact that in the past few months it has grown at a fairly rapid pace, renting property in Malta is still much cheaper than in other European cities and countries. The increase in the cost of rental housing in Malta made many suspicious. Thousands of tenants feared that they would be kicked out when the market got completely out of control. But rental expert Steve Mercieka is absolutely confident that the market will stabilize and does not consider the above fears so critical. According to him, prices for rented real estate in Malta are several times lower than in Dublin or Milan. Another positive example: for the same price in Malta you can rent an apartment of 100 sq. m., and in London - only 40-50 sq. m, which, again, demonstrates the difference.
Estimated change in rental value in Malta
According to the expert, prices will no longer rise, since their maximum possible level has been reached. And the possibility of further growth will be only if the population's incomes significantly increase. The largest increase in rental value (by 93%) occurred in 2013-2016, as demand for rental properties in Malta increased significantly, mainly among foreigners. Another reason for the increase in the rental price is the requirement of the IIP (Individual Investor Programs) to rent an apartment of at least € 1,330 per month for those applying for Malta citizenship. All this, in their totality, led to the fact that the market began to "fever".
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