The Ins and Outs of Renting in Malta
The Ins and Outs of Renting in Malta
With so much more to offer than just sun, sand and sea, renting in Malta seems like the obvious choice for pretty much anyone with a love of culture or an interest in global business and trade. As a diverse and multicultural country, Malta is the perfect place to live for locals and expats alike, and there is a huge market for everyone from young first time renters to retired couples looking for a quiet retreat – with such a range of options, you’re sure to find what you want!
However, whilst choice is always a good thing, understanding the ins and outs of the renting process in Malta is vital if you want to bag the best bargain for your buck – and find your dream home in the process!
Moving to Malta from overseas
If you’re moving to Malta from overseas (and why wouldn’t you be?) then there are a few things that you will need to think about before you take the leap. The first and most important of these is getting a visa if you’re not from the EU. The actual process of applying for a visa is very simple, but if you are planning on working in the country then you will need to have a job lined up before you apply (or alternatively, have at least €100,000 spare cash that you can invest in a Maltese business…).
There are plenty of sites that can help you get a job, including www.maltajobs.com and www.pentasia.com - and you can be assured that having a job will make it much easier to set up your first rental payments!
Locations
When it comes to renting, location is important. Not only does it determine the relative cost of that three-bed apartment that you want, but it also has to be right for you and your particular situation.
Most expensive areas to rent are likely to be the areas closest to big cities:
Sliema, Valletta and St Julian’s. Whilst these places are pricey, you pay for what you get. Filled with life and vivacity, these places are great for the relocated business man or woman looking to stay at the centre of the action.
Cheaper areas to live are usually farther from the city centres or even off the main island altogether. Depending on what you want, these places can be just as great, offering quieter locations for active kids to play outside or for retired couples looking for a beachside retreat.
Make the most of your time and money
In Malta all rent payments are paid a month in advance and when you first sign the lease you will have to pay a deposit equal to your monthly rate as well as your deposit. This means that if you rent a place that is €500 per month, you will
have to pay €500 + €500 + €250 = €1,250 in advance. Before you go into renting a place, you have to make sure that you have budgeted for this upfront payment as well as taken into account your ability to pay the monthly rate.
If you want to save some money then you may find that living outside of the main working areas (Sliema etc.) in places like Swieqi or Gzira and commuting in will help you to cut the cost of living on a month to month basis.
Conclusion
If you want to rent in Malta then there is a huge amount of choice all across the island – find your place for the right price today!
Insiders tip: Keep a track of your bills using https://mita.gov.mt/billsavings/