One thing that is very clear about the Maltese property market is its resilience. We have faced the most difficult of times economically over the past two years, but where the rentals market took a temporary knock for obvious reasons during the pandemic, the local residential sales market kept a steady pace and did very well unlike the rest of Europe.
Now, with all the travel restrictions lifted and everyone having gone back to business, Malta’s popularity as a destination to work and play is reaching and even surpassing pre-covid levels for some industries. We have recently seen articles about staff shortages in all business spheres and this only means one thing: more people will be coming to the islands to fill these positions and they will all need a place to stay. Secondly, record numbers of tourists are passing through Malta International Airport as we speak and all of them need accommodation during their holidays. This puts even more pressure on supply, especially during the traditional holidays of July and August when many locals take a break for the summer and want holiday accommodation.
Rental properties are currently not only in high demand; the prices achieved for rentals have gone up substantially. Popular areas are back to the all too familiar waiting lists and this adds to the frustration of many tourists and prospective tenants. This is bad news for those that want to rent but good news for investors of rental properties. If you have any spare capital that you are looking to safely invest, one of the best options is to buy a property to rent out. Why is this a good option? Your investment pays dividends twofold: firstly there’s the renting out of the property on either a long or short-term basis thus generating a handsome income on a monthly basis and secondly the capital appreciation of the property over time. It’s a win-win situation. If you are excited about the prospect of buying a property to rent out but do not have the patience or skills to manage the property yourself, you can easily have it managed on your behalf by a property management company. Of course this will come at a fee, but you will still end up sitting back, watching your investment deliver and grow faster than almost anything else available on the market. We can safely assure you of a very decent rental income if you allow us to guide you towards buying the right rental property. There has never been a better moment to invest in a buy-to-let property.
To conclude, “Safe as houses” may have been a phrase invented by the Victorians, but it is absolutely true to this day when it comes to sensibly investing your money. If you are interested in looking at buying a second or third property to rent out, give us a call as we have some stunning, ready-to-move-into properties on our books in the most popular areas of central and north Malta.
Contact our offices on info@hoq.com.mt or +356 2277 0620.
