The Benefits Of Shared Accommodation
We take a look at the growing trend in the market when it comes to renting out shared accommodation.
One of the main conversational topics over the past few years has been the increase in rental prices. Expats from all over the world are coming to live and earn a living in this beautiful country with the aim of creating something better than their previous conditions.
Given the sheer volume of people needing to rent, this naturally drove the prices up. Before this so called ‘Property Bubble’ started to grow, it was extremely affordable to rent a two-bedroom property for a few hundred euros per month.
Nowadays, you’d struggle to rent a one-bedroom apartment in Sliema for less than €750 Euro per month. This has led to a shift in the way properties are being rented out.
Rooms are becoming increasingly popular, partly as promotes a more cost friendly way to one’s monthly rent expenses. Sharing accommodation has multiple benefits, as apart from being extremely cost efficient, one can meet people from all over the world as well as specifically looking for people from their own nation if they’re possibly feeling a little homesick.
It is also much easier when it comes to moving properties as you would have all or most of your personal belongings in one place rather than scattered around a property. You may also not necessarily need to commit to a whole year when renting out and may choose to rent for six months.
Finally, shared accommodation may actually help you get a fantastic property with a higher level of finishing seeing as there would be more than one person contributing to the monthly rent. Who’s to say you can’t rent out a lovely three-bedroom penthouse whilst keeping it affordable if the other two rooms are rented out?
Whether we accept it or not, the market is shifting towards this new trend, and Co-Living Malta are here to help find the perfect solution for you.