If you are looking for an apartment to rent in Malta over a long period of time (1 year minimum), it is recommended that you use the services of a real estate agency. In general, demand is very high for accommodation in Malta, and you must be very wary before entering into an agreement, being well-informed of the prices charged and the lease conditions.
Firstly, it is important to know that there are two types of rental agreements in Malta: Long-term and short-term. The first concerns expatriates wishing to stay for at least 1 year on the island. The second only concerns people staying for a limited time on the islands: from between a few weeks to 6 months.
We will only discuss long term rentals for those who wish to live in Malta in the long term.
Please note that since January 2020, rental laws in Malta have been completely reformed. As a result, the rights and duties of each party have changed, and real estate agencies have had to adapt their rental contracts to comply with the new regulations.
Why go through a real estate agency? What are the benefits and procedures?
The advantages of going through a real estate agency in Malta
Speed
A real estate agency will do the housing research for you and will present you with a list of available properties. Visits are also organized by the real estate agent, who will be able to answer your questions directly. This is undoubtedly a time-saver.
Security
Housing scams are very common on the island, especially on social network platforms. Considering the number of false advertisements and fake owners, it is important to verify the identity of your interlocutor.
Real estate agencies will offer you existing and certified accommodation, which you can visit.
Payments will be secured as traceable and registered by the agency.
Proximity
You will have a dedicated contact person, a real estate agent who will follow the progress of your file, from first contact to signature of the lease, including visits. They will also facilitate exchanges with the owner.
Types of rental offered and rates
Accommodation
In terms of long-term rentals in Malta, you will mostly find apartments and penthouses, but also maisonettes, villas or even farmhouses in the countryside.
Rents
The rents are very high in Malta, which has experienced a real estate market inflation in recent years, although the Covid situation has tempered it slightly. In Saint Julian’s and Sliema, do not expect to find much for less than €600 for a studio, €800 to over €1,000 for a one-bedroom apartment, and between €1,000 and €1,800 for a 2 or 3-bedroom apartment. The further away you go from this area, the lower the rents will be. Of course, you may find good opportunities in the market everywhere. However, beware of the many online scams, bogus landlords and fake real estate agents who are only there to cheat you out of your money.
Note that the whole Covid situation obviously impacts the real estate industry when it comes to prices and availabilities. Therefore, it opens even more possibilities of negotiating your rent with the real estate agent and/or the owner.
The lease
To secure your accommodation with a real estate agency, the formalities are very simple.
Necessary documents
A valid identification is all that is required to rent any accommodation in Malta. You will not need to provide any proof of income, or a contract of employment.
Security deposit
Payment of a deposit is mandatory to secure the lease of the accommodation. This amount is usually equivalent to one month’s rent.
Agency Fees
Through a real estate agency, agency fees will apply. They usually charge 50% of one month’s rent.
Signature of the contract
Most of the time, the contract is signed at the office of the agent, with the owner present.
Rental period
Following the signing of the rental agreement and throughout the rental period, you will usually communicate directly with the owner. Real estate agencies in Malta do not usually offer any additional services after you have agreed to rent a place.
The different real estate agencies in Malta
There are many real-estate agencies on the island, such as (not ranked in order of size or reputation).
- Frank Salt
- Simon Mamo
- Quick Lets
- Remax
- Malta Property
- Perry
- JL Properties
- Century 21
- Dhalia
- Sotheby’s
- Belair
- Engel & Volkers
- John Taylor
All these agencies have their specific services, strengths, and expertise. Real estate agents may be Maltese or foreign nationals. Some are more focused on “luxury”, and others on “accessible budgets.”
Warning and advice
Get information and seek advice
With so many real-estate agencies in Malta, it is easy to get lost. There are advisory bodies to guide you in your research.
Find out about prices on the island
Consider the location of the property and the number of bedrooms, as these two criteria will be the main factors in the rental price you can expect to pay.
A two-bedroom apartment in Saint Julian’s or Sliema will be priced between €1,000 and €1,500 or more per month, while an apartment of the same size in Pieta or Iklin will be less than €1,000.
Be careful of ads from real estate agencies that are too good to be true
On the websites of real estate agencies or on social networks, you will often find false property ads. They are only intended to entice potential clients to contact the agency. You will quickly realise that the property in question is not available!
Don’t delay in making a decision
Accommodations are taken up quickly and will not be reserved for you if you do not pay the deposit.
Summary on real estate agencies in Malta
Moving abroad is never easy in terms of finding accommodation. It is advisable therefore to seek good advice and guidance to avoid disappointment.
We are here to help for free by connecting you to the best solutions, the best agents on the island. Contact us and be connected today!
Consider hiring the services of a real estate agent who will assist you every step of the way.
If you have a tight budget, we advise you to choose a flat-sharing solution.
