Property in Malta is normally found for sale but lately renting is becoming a highly attractive option to. With yields on property at rather high levels, it is definitely possible that you will get a good deal for your property if you rent it out both for a short period and for longer stays.
New developments are often being built with the rental market in mind and you can find these in a host of locations such as Sliema, St Julian’s and Msida where they are tailor made for the younger student generation or even foreigners who wish to come and live in Malta for short periods. Renting rates are quite cheap for some areas although in Sliema they could be pricey with a one bedroom apartment renting for around €500 a month in top areas going up to as much as €1000 a month on the seafront.
If you are out to rent a property it is important to note the location and that all amenities are up to scratch. Some properties are rented out as furnished while others are bare so you’ll have to take your furniture with you. Always make sure that services are properly installed as it could take you time to get these up and running if some aren’t available.
Renting is also a good opportunity for foreigners who are working in Malta especially those in the gaming industry, these normally require top notch property in desirable areas so one can make a nice tidy profit if the property is in a good location. Malta also has a number of small villages where some characteristic property such as farmhouses are available for rent and these are also interesting on the sister island of Gozo where yields can be extremely high and quite desirable. Renting is definitely the next big thing for the local property market.