Real estate in Malta: the cost of renting a three-bedroom apartment in 2021
Investors buy or rent real estate to get a residence permit or citizenship in Malta. Not everyone is ready to buy an apartment right away: the average price per square meter apartment — from €1,449. We tell you how much it costs to rent an apartment with three bedrooms in different cities of Malta.
The annual turnover of the real estate market in Malta in 2020 amounted to 3 billion euros. Demand for housing in the country is comparable to pre-crisis levels and is growing, despite the pandemic. Data provided by the Association of Developers of Malta.
Malta real estate prices have risen by 5-9% compared to 2019 prices. Rental prices have also increased. The average rental price for a three-bedroom apartment in Malta is €1,466, according to Numbeo.com.
€1,466 per month
The Numbeo website allows all users to share information about the prices of real estate, food, and travel in their cities and countries.
Rental costs in different regions of Malta
The cost of renting depends on the region of the country. Malta is divided into six regions. Valletta, the capital, is located in the region of South Harbor, and the popular resort town of Marsascala — in the south-eastern region. In North Harbor are major cities: Sliema, Birkirkara, and Gzira.
The cost of renting property is lowest on the island of Gozo. The most expensive options for renting housing — in the regions of North and South Harbor.
The average cost of renting a three-bedroom apartment in Malta
Data source — Numbeo.com
Rental property for permanent residency and citizenship
Real estate in Malta is an investment that allows you to get a residence permit and one of the conditions to obtain citizenship by naturalisation for exceptional services by direct investment
Malta’s economy will begin to recover from the effects of the pandemic and will grow by 4,6% in 2021. This is the forecast given by the European Commission. When the country opens its borders to tourists, rental prices will begin to grow faster. The Maltese government plans to open the border to tourists on June 1, 2021.
Immigrant Invest real estate experts recommend not to put off renting or buying housing in Malta until the end of 2021. As long as prices remain relatively low and there is a benefit to the payment of stamp duty, it is possible to rent or buy a property at a better price.
Residence permit in Malta is issued if the investor meets several conditions:
buys or rents housing on the island;
pays a government fee and an administrative fee;
makes a charitable contribution to a Maltese non-governmental organization;
proves the existence of assets worth €500,000 or more.
The minimum amount of investment is €112,000. Registration of the status takes about six months. We told you how to get permanent residence in Malta in 2021.
Real estate experts Immigrant Invest provides a lease agreement for participation in the program: they provide several options for objects and conduct an online display. In March 2021, experts selected real estate for Valeria and Stepan so that the spouses could travel freely in the Schengen countries.
Maltese citizenship can be obtained only by Naturalisation for Exceptional Services by Direct Investment. The investor first receives a residence permit, and after a year or three years apply for citizenship.
If the application is approved, the investor invests from € 690,000 in the economy of the country and becomes a citizen of Malta. The minimum transaction amount when buying a housing — € 700,000, when renting — € 16,000 per year.
Residents of Malta travel freely in Schengen countries and have the right to live, work and study in the country without restrictions. And the Maltese passport gives access to all the rights of a citizen of a member country of the European Union and the right to enter 186 countries without a visa.
Immigrant Invest — a licensed agent, which helps investors to find a property and get permanent residence or citizenship in Malta. If you want to become a resident or a citizen of a European Union country, seek advice from the experts of investment programs.