by Alexis Cachia
The Maltese culture has always encouraged ownership, not of one property or two, if possibly three or more.
The last five years has brought about a large number of foreign nationals who moved to Malta to work and live here and also quite a large number to retire here due to our weather and because we are an English speaking island. This besides our culture has paved the way for people to acquire property as a rental investment.
The growth of industries such as gaming, financial services and pharmaceuticals amongst others has led to a strong surge in demand for rental properties. Malta has also been advertised as the perfect sunny island to live in, a friendly island and a safe place to be.
The decision to buy a property for rental investment is an extremely exciting one, however, before deciding on purchasing, one has to be aware of the tenants wishes. If, prior to the purchase the landlord puts himself in the shoes of the tenant the landlord is more likely to rent that investment sooner. The landlord needs to decide what tenancy market he wishes to attract. Does he want that tenant who will be looking to rent a modern property or a traditional Maltese style townhouse? Do you require parking? The type of furnishings you will be buying to furnish the property dictates the type of tenant you will attract, so your choices are important from the start.
Another point to keep in mind is that a new and modern property would need less maintenance than the older type, character house or townhouse.
Location is always the most important factor. The better the location, the higher return on investment. The same goes for the size of the property and especially what outdoor space available.
Speak to us for the right advise, we have years of experience and our landlords are happy to say that they find tenants easily and they have less down time. We look forward to helping you with your search.