The attractive characteristics that Malta benefits from make the island an attractive option to consider renting property. Malta is now more easily accessible due to the fact that low-cost or no-frills airlines, are now offering cheap flights to Malta from the UK, Ireland, Italy, Spain, Scandinavia and Germany.
Malta is already an active long-term and holiday property rental market, and the recent introduction of low-cost airlines only helps to strengthen the property market. Coupled with the fact, the government has committed to a substantial increase in budget allocation for tourism, which has led experts to predict a bumper year for tourism on the island. This means Malta will be open to a much wider market of tourists and today’s holidaymaker is very often tomorrow’s holiday or retirement home purchaser. All these factors make Malta an attractive location to consider for investment and have been met very enthusiastically by property investors and developers alike.
The rental returns aren’t astronomical but average and fair with an average 5 % return. However, the growth in the value of the property is almost certain, especially over longer term investments. Property prices in Malta have been climbing steadily and healthily over the past two decades with sustainable price rises as the desire to live in Malta is intense and the availability of property stock is physically limited by the geographic restrictions of the island – Banks now offer tailor made Buy to Let loans.
The final decision to be made by the Buy to Let investor is which letting strategy to implement. It is obvious that the highest income is made by the property owner by short term letting during the high season (with the price for a month achievable on a weekly basis) however, increased overheads due to constantly finding short term rental clients, cleaning, damages and other maintenance costs must be taken into account.
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