When you are thinking about moving to Malta you are probably also thinking about the housing situation there. The most important questions are if you should buy or rent property, and how much money both options cost.
The real estate market in Malta offers a lot of different options: houses, apartments and penthouses in different finishes and styles. Most properties are furnished and ready to move in, but there are great differences in quality of the furniture and appliances to be taken into account, as they will greatly affect the price. The area is important as well, and popular areas such as Sliema or St. Julians are considerably more expensive than other areas in Malta, such as central localities, the south or even Gozo.
It is common to rent or buy properties in Malta through an estate agent. The best time to look for a new flat is in the low season, between October and March. Since many seasonal workers come to Malta during the summer months it is more difficult to find a nice flat, and prices will also be higher. The low season also offers more leverage for negotiations with landlords and lowering the rent is often possible when the apartment is rented for a longer period (longer than 6 months).
Renting property is usually straight forward, however, you should not rely on the properties you see on the Internet. These are just for reference and you will find out about available properties when in you are in touch with the agency. The estate agent will show you available flats or houses, and when you have made the decision to move in (keep in mind that good flats might be rented quickly) you will meet with the landlord and agent to sign the contract. The estate agent will normally receive 1/2 month rent + VAT as a commission from you, and the same amount from the landlord. Buying property through an estate agent will also cost commission, which depending on the purchase amount of the property can be a considerable amount that should be factored in before he purchase.
The office of Dr Werner & Partner offers relocation services and we work closely together with one of Malta’s leading real estate agencies who will cater to your needs. You are welcome to contact us for personal consultation if you are interested in our relocation services.
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