Malta Real Estate 2024 | A Comprehensive Guide to Renting/Leasing Real Estate in Malta

Are you considering relocating to Malta for work, retirement, or to simply embrace island life? Renting property in Malta is a straightforward process, offering flexibility and convenience for both locals and foreigners.

In this comprehensive guide, we'll walk you through everything you need to know about renting property in Malta, from rental rates and property options to the rental procedure and how we can assist you throughout the process.

Renting Procedure

Renting property in Malta is hassle-free, with no restrictions for foreigners. Rental rates vary depending on factors such as location, property type, furnishings, and duration of tenancy. Whether you're seeking a furnished apartment or an unfurnished house, Malta and Gozo offer a diverse selection of properties to suit all budgets and lifestyle preferences. Most long-term rentals, defined as four months or more, do not include water, electricity, internet, and TV expenses, which are borne by the tenant based on consumption.

Expenses and Deposit

In addition to the monthly rent, tenants are typically responsible for water, electricity, and TV rentals in long-term leases. Estate agency fees, amounting to one month's rent plus VAT, are shared equally between the landlord and tenant. To secure the rental property, tenants are required to pay a refundable deposit equivalent to one month's rent, which covers potential breakages and outstanding bills at the end of the lease. Utility costs, averaging €50-75 per month, should also be factored into the budget.

Property Options

Malta and Gozo boast a wide range of rental properties across the islands, catering to diverse preferences and needs. The Inner Harbour region, including popular areas like St Julian’s, Sliema, and Msida, are ideal for those working in Malta and seeking a vibrant urban lifestyle. Alternatively, inland, western, and southern Malta offer a more tranquil environment, perfect for those looking to escape the hustle and bustle of city life. Gozo, with its picturesque landscapes and serene ambiance, is a popular choice for holiday breaks and retirement.

Property Types

There is a range of property types available for you to consider, depending on your lifestyle, budget, and preferences. Whether you prefer a charming historic property or a modern one with all conveniences, there are several options to suit your needs.

Apartments:
Malta's thriving real estate market offers a plethora of apartment options, whether you prefer renting a finished unit or one still in development. Budget and personal taste play significant roles in your decision-making process. Finished apartments provide convenience and immediate occupancy, while purchasing off-plan often offers better introductory prices and customization opportunities.

Maisonettes:
Maisonettes, boasting independent entrances within larger properties, are another popular choice. Whether duplex or standalone, these properties often include roof access and may feature small yards or gardens, providing a blend of urban and suburban living.

Penthouses:
Situated atop buildings, penthouses stand out for their luxury finishes and spacious terraces, perfect for entertaining or enjoying Malta's picturesque views and favorable weather conditions.

Villas, Bungalows, and Terraced Houses:
Villas and bungalows, ranging from classic to contemporary designs, offer spacious layouts across one or two floors. Often featuring gardens, swimming pools, and upscale amenities, these properties provide a luxurious lifestyle in serene surroundings. Terraced houses, typically split over two levels with front porches and gardens, offer a blend of traditional charm and modern comfort.

Period Houses:
Houses of Character and Townhouses showcase Malta's rich architectural heritage, boasting original features like stone arches and patterned tiles. These properties, often converted to modern standards, offer unique character and historical charm, making them highly sought after.

Localities in Malta
Malta, the main island in an archipelago including Gozo, Comino, and Cominotto, is divided into six districts. Gozo, accessible by regular ferry service, is smaller and less populated than Malta.

Southern Harbour:
The Southern Harbour district encompasses historic cities like Valletta, Floriana, Paola, Birgu, Fgura, and Luqa. Valletta, Malta's capital founded in 1566, was named the Cultural Capital of Europe in 2018. It boasts significant historical landmarks and modern amenities, making property investment here highly desirable.

Historic Cities:
Consider exploring the walled cities of Vittoriosa (Birgu), Senglea (Isla), and Cospicua (Bormla) for their rich history and cultural events. These cities, central to historical events, offer unique properties sought after by many.

Northern Harbour:
The Northern Harbour, despite being the smallest district, houses the largest population and is known for its urban and cosmopolitan lifestyle. Sliema, Gzira, St Julian’s, Pieta’, and Birkirkara are key areas with diverse residential and business opportunities.

North Malta:
For a more relaxed lifestyle, explore the Northern part of Malta, known for its beautiful sandy beaches and laid-back atmosphere. Places like Mellieha, with its popular Ghadira Bay, offer a wide range of properties amidst serene surroundings.

Gozo:
Gozo, Malta's sister island, attracts those seeking a peaceful lifestyle. With its lush greenery, untouched beaches, and tranquil coves, Gozo offers a serene retreat away from the hustle and bustle of Malta.

Desirable Suburbs for Long-Term Rentals

Sliema and St Julian’s, bustling coastal towns, are in high demand, particularly during the vibrant summer season. Apartments dominate the property market here, with rents typically starting at €1,000 per month and escalating for penthouses or larger units. Feel free to browse currently available rental units with pictures and prices on our website.

For a quieter retreat, consider the picturesque northern region of Malta, including Mellieha and surrounding villages like Qawra, Bugibba, and St Paul’s Bay. In Mellieha, rental properties range from €700 to €1,300 per month, offering a variety of options including detached bungalows, maisonettes, penthouses, and apartments in both traditional and modern styles.

In central, western, and southern Malta, one or two-bedroom rentals below €650 per month are more accessible, with options starting at €500. Valletta typically offers monthly rentals around €1,000, while luxury apartments may reach €2,000. Seaside villas in coveted locations might command rates of up to €4,000 per month.

How We Can Assist You?

At Zenturo Ltd., we understand the significance of relocating to a new country and are here to assist you every step of the way. Our dedicated team of consultants is well-versed in the local market and can help you find the perfect rental property to meet your needs. From coordinating property viewings to assisting with lease agreements and post-rental services, we're committed to making your transition to Malta as smooth as possible.

Last, but not least, our immigration advisors can assist you with questions about acquiring Malta residency or Malta citizenship (the EU passport) through one of the various Malta immigration by investment programs.

Contact Us Today

Ready to embark on your journey to renting property in Malta? Contact us today to learn more about our services and how we can assist you. Whether you're seeking advice on setting up utilities, arranging transportation services, or navigating legal and financial matters, we're here to help. With our expertise and personalized assistance, finding your dream rental property in Malta has never been easier.

Feel free to view property listings with pictures and prices on our website, or fill out the property wish list to capture your preferences.

Don't hesitate to reach out with any questions or inquiries – we're here to support you every step of the way.

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Because immigration by investment programs can change over time please contact us to speak with an advisor or to receive a preliminary quotation. The information provided in this blog post is intended for educational and informational purposes only. It should not be construed as legal or financial advice.

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