Issue 96 Sales of houses with outdoor space have remained very strong in the past months.
WHO RENTS MOSTLY NOWADAYS? IS IT JUST FOREIGNERS OR STUDENTS? OR DO YOU SEE INCREASED EVIDENCE OF LOCALS, INCLUDING FAMILIES, RENTING OUT INSTEAD OF BUYING PROPERTIES? WHAT WOULD YOU ATTRIBUTE THIS TO? The majority of tenants are still foreigners, and these are generally working or studying here and/or are retired or semi-retiring here for tax reasons. Saying that, year on year, more and more locals continue to rent property, and these vary from single young career professionals to single parents and families. The mindset has changed significantly from what we were accustomed to, and it is now very normal to find locals looking to rent due to their circumstances. The fact that the property prices remain inaccessible for some also leads to them being constrained to rent instead of buy. WHAT KIND OF RENTAL PROPERTIES ARE MOST POPULAR? Again, the majority still look for apartments page
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across the island. However, a good number of tenants are looking for quality houses with gardens and pools, and these remain harder to find. A RECENT LANDMARK STUDY BY THE HOUSING AUTHORITY COMPARED THE RENTAL PRICES OF TWO-BEDROOM APARTMENTS IN DIFFERENT LOCATIONS ACROSS MALTA. IT MAY HAVE BEEN QUITE PERPLEXING FOR SOME TO SEE A PROPERTY IN K ALK AR A RENTING ON AVER AGE FOR AS MUCH AS IN VALLETTA OR TA' XBIEX AND TRIPLE THE AMOUNT OF PROPERTY IN RABAT. WHAT RAISES THE RENTAL VALUE OF A PROPERTY, AND WHAT DECREASES IT? IS IT JUST THE LOCATION? Yes, location is a key determining factor, as it is all around the globe. The harbour areas, Valletta and the Sliema, St Julian's surrounding areas, will always command higher prices than most other locations on the island.