The rental property market is much faster when compared to sales. Rent is faster due to probably being rushed in time, you don’t need to worr much when moving in. When buying a house you need to give it lots of thought and check your finances. The rental property market has decreased due to covid especially here in Malta. Malta property for rent used to be the largest market on the island and it was the go to for investment. Due to having airports closed, and people locked at home some rental homes are struggling.
The General Prices & Changes For The Property Market Malta
- Apartment prices in Malta rose by 11.02% on average during the year to Q1 2020. When adjusted for inflation, prices went up by 9.7%.
- Terraced house prices increased by 15.34% (13.96% inflation-adjusted).
- Maisonettes prices increased by 7.82% y-o-y (6.54% inflation-adjusted).
- Other houses such as: townhouses, houses of character and villas, experienced the highest price increase of around 15.96% y-o-y (14.58% inflation-adjusted) during the year to Q1 2020.
With such information the property prices continue to rise due to high demand and development. The current market trend in Malta is to invest in property. Did the same happen to rent? How is the rent in Malta?
The rent in Malta is an extremely hot topic with such an increase in properties rent in Malta has become more reasonable. Many home owners abused and took at advantage of the law forcing to rent properties for much more than supposed to. This was forcing the rent buyers to struggle and have no choice but to rent it for an inflatted price. Things have improved ane even with the large amount of properties on the market prices have gone down but are still on the high meaning this is a high profit industry. If you want to invest in property in Malta go ahead but choose the right property. People who are lucky to rent long let is always safer but short let gives you more money bu t higher risk.