Renting In Malta

Renting property in Malta is simple, and foreigners can rent with no restrictions. Unusually for Europe, where laws always seem to favor the tenant over the landlord (or the employee over the employer), Malta is pro-landlord when it comes to the law.

That said, rental contracts can be terminated at will, even by the tenant, though it’s done rarely and usually with an agreed period of notice.

There are no particular expenses relating to the letting of property except for estate agents’ fees, which normally amount to half a month’s rent plus VAT. A deposit of one month’s rent is typically required at the signing of the lease. All utilities will be paid by the tenant.

Most rental properties come furnished, although there is an unfurnished selection available out there if you look for it.

Rental rates are reasonable but vary depending on location, type of property, standard of furnishings, and duration of tenancy, of course.

Of course, the flip side of low rents for tenants is that rental rates for buy-to-let homeowners are not particularly attractive. Overall, rental yields in Malta are quite low. Part of the reason for these low yields is that the Maltese, in general, prefer to own property rather than rent. Malta’s owner-occupancy rate is around 80%.

Renting On Gozo

Gozo’s rental market is busy. Rental prices are up 30% to 40% in recent years, thanks to the growing number of people relocating here…

Maltese (from the mainland) come here because Gozo’s cost of living is two-thirds that of the mainland. Western Europeans (Swedes in particular) come here because of the endless sunshine and interesting tax incentives. Companies can set up here with a corporate tax rate of only 5%, for example…

You’ll get the best value for your money if you agree to a long rental. You can expect to pay between 850 to 1,500 euros a year for a three- or four-bed house, whereas a short-term rental can be up to four times as much. About 70% of Gozo’s rentals are furnished, but owners are generally flexible if you prefer unfurnished.