Average Property Rental Prices
Renting property in Malta is popular – particularly amongst foreigners who live on our small island, and for people who don’t want to be encumbered with a mortgage for many years. Renting your accommodation also gives you a degree of freedom of movement with leases typically being for 1 year – renewable annually.
There are a wide range of properties available for rental, including villas, houses of character, terraced houses, maisonettes and apartments. Apartments are by far the most popular type of rental property in Malta, as they are relatively inexpensive.
Most properties are listed as fully furnished, but unfurnished properties are available too. Property rental prices in Malta depend on three main factors:
- Size of property – Obviously a villa will cost more than an apartment
- Quality of the property – A brand new apartment with quality furnishings, new appliances etc will generally cost more than an older equivalent sized property equipped with older furniture and appliances.
- Location – The south of the island is typically less expensive than the north. A property situated in a lifestyle development such as Portomaso, Tigne Point or Madliena Village will be more expensive than one in a stand alone block.
From scanning the “To Let” section of newspapers, you will get an idea of what’s available, where and at what price. Renting a two-bedroomed furnished apartment will cost around 250 – 350Euros per month in the southern villages, around 350-550Euros elsewhere on Malta, and up to 2,000Euros in a premier lifestyle development. Renting a farmhouse or house of character with three bedrooms and a pool can cost anywhere from 850Euros per month on Gozo, to 3,000Euros per month, depending on location, in Malta. Villas with a pool, especially those situated on the prestigious Santa Marija Estate, are typically rented out for a minimum of 2,000Euros per month.
In addition to the monthly rental, a deposit will be required by the landlord. this is typically one month’s rent, which will be paid back upon vacating the property, as long as nothing is damaged and the property is left in a good condition. Most rental prices are exclusive of water and electricity bills.