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MALTATODAY 28 November 2018 Midweek

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NEWS maltatoday | WEDNESDAY • 28 NOVEMBER 2018 2 PAUL COCKS 'LOCATION! Location! Lo- cation!' is a famous business mantra for retail operations, but it is also the main factor af- fecting pricing of rental prop- erties in Malta, together with size and finish quality. As more young couples and singles are finding it hard to purchase their own home, due to the ever-increasing price of property, many are having to rent. Unfortunately, the price of rental properties has been driven up dramatically over the past few years by the large number of foreign workers seeking temporary housing. Location is one of three major influential driving factors, with areas like St Julian's, Madliena, Swieqi, Sliema, Ta' Xbiex and Gzira registering the highest prices due to high demand for units in these localities. The size of the rental unit – mainly, the number of bed- rooms and bathrooms – is as equally relevant, as is the age of the unit and the quality of the finish it is presented in. Besides these three main fac- tors, other considerations that will affect pricing include the type of appliances provided, particularly smart applianc- es and air conditioning, any amenities – such as a lift, pool, garden and yard – and, in the case of apartments, what floor they are on and even if they are pet-friendly or not. Joseph, an independent agent (sensar) told MaltaToday that most clients tended to insist on meeting at least two of the three main factors, often sac- rificing finish quality for loca- tion and size. "Many prefer to have enough bedrooms and bathrooms and being close to work, or their children's schools, or their families, over the quality of the furnishing and the appliances provided in a rental unit," he said. "And that keeps the price within an acceptable bracket for many people, although rent prices are rising on a yearly basis." A study of the cheapest rent- al properties listed on the web- sites of five major real estate agents confirms this. In the case of each agency – Frank Salt, Quicklets, Re- max, JK Properties and Malta Property – we analysed the ten cheapest rental properties they listed in Gozo and the ten cheapest in Malta. Immediately it became ap- parent that rental prices were cheaper in Gozo than in Malta. The cheapest properties available for long let were a two-bedroomed apartment in Marsalforn, listed by Malta Property at €240 per month, and a one-bedroom mai- sonette in Munxar, listed by Quicklets at the same price. There were quite a number of properties in Gozo being rented out for €250 to €300 per month, in localities like Xlendi, Xewkija, Victoria, Ghajnsielem and Qala. The av- erage price for the 50 cheapest Gozo rental properties listed worked out at €334 per month. That average is only €9 high- er than the cheapest property in Malta listed for rent on the five websites. That was for a two-bedroom, one-bathroom apartment in Marsascala, list- ed on the Remax site for €325/ month. Marsascala, together with Qawra, Floriana, Bugibba and Mgarr proved to be the locali- ties with the cheapest rental properties in Malta. The aver- age price for the cheapest rent- al units in Malta across the five websites was €422. pcocks@mediatoday.com.mt When renting property, location is key A maisonette in Munxar listed at €240 per month 1 €240 Munxar Maisonette 1 1 2 €240 Munxar Maisonette 2 1 3 €240 Marsalforn Apartment 2 1 4 €250 Marsalforn Apartment 2 1 5 €250 Marsalforn Apartment 1 1 6 €250 Munxar Apartment 2 1 7 €250 Victoria Townhouse 2 2 8 €250 Marsalforn Apartment 2 1 9 €250 Victoria Studio Apt 1 1 10 €250 Nadur Apartment 1 1 11 €250 Marsalforn Apartment 1 1 12 €280 Marsalforn Apartment 2 1 13 €300 Xewkija Apartment 3 2 14 €300 Xewkija Maisonette 1 1 15 €300 Ghajnsielem Apartment 2 2 16 €300 Munxar Apartment 1 1 17 €300 Xlendi Apartment 1 1 18 €300 Marsalforn Apartment 3 1 19 €300 Marsalforn Apartment 2 1 20 €300 Qala Maisonette 2 1 Rank Rent Locality Type Bed Bath Rank Rent Locality Type Bed Bath Rank Rent Locality Type Bed Bath 21 €300 Xlendi Penthouse 2 1 22 €300 Victoria Apartment 1 1 23 €300 Qala Maisonette 1 1 24 €300 Xlendi Apartment 2 1 25 €300 Victoria Apartment 1 1 26 €300 Nadur Apartment 3 1 27 €310 Xlendi Apartment 1 1 28 €320 Marsalforn Apartment 2 1 29 €320 Xewkija Apartment 2 1 30 €320 Xlendi Maisonette 1 1 31 €325 Marsascala Apartment 2 1 32 €325 Xewkija Penthouse 2 1 33 €350 Marsalforn Apartment 2 1 34 €350 Xlendi Apartment 2 1 35 €350 Victoria Apartment 1 1 36 €350 Gharb Apartment 1 1 37 €350 Marsalforn Apartment 3 2 38 €350 Xewkija Apartment 2 1 39 €350 Marsalforn Apartment 3 1 40 €350 Xaghra Apartment 2 1 41 €350 Fontana Apartment 2 1 42 €350 Floriana Studio Apt 1 1 43 €350 Mosta Studio Apt 1 1 44 €375 Mosta Studio Apt 1 1 45 €380 Iklin Room 1 1 46 €400 Bugibba Maisonette 1 1 47 €400 Mellieha Studio Apt 1 1 48 €400 Bugibba Apartment 1 1 49 €400 Qajjenza Apartment 3 1 50 €400 Birzebbugia Apartment 2 1 51 €400 Iklin Apartment 1 1 52 €400 Zejtun Apartment 2 1 53 €400 Mellieha Apartment 3 2 54 €400 Qawra Apartment 2 1 55 €400 Attard Maisonette 3 1 56 €400 St Paul's Bay Apartment 1 1 57 €400 Bugibba Apartment 1 1 58 €415 Naxxar Apartment 2 1 59 €419 Ta' Xbiex Studio Apt 1 1 60 €420 Safi Apartment 2 1 €240 Munxar • Maisonette €300 Xewkija • Maisonette €300 Ghajnsielem • Apartment €300 Qala • Maisonette €325 Marsascala • Apartment 400 Qajjenza • Apartment 400 Birzebbugia • Apartment €350 Mosta • Studio Apt €380 Iklin • Room €400 Zejtun •Apartment €350 Floriana • Studio Apt €400 Bugibba • Maisonette €400 Bugibba • Apartment €400 Mellieha • Studio Apt €250 Nadur • Apartment €250 Victoria • Townhouse €300 Xlendi • Apartment €250 Marsalforn • Apartment €280 Marsalforn • Apartment €240 Marsalforn • Apartment 1 1 2 2 2 3 2 1 1 2 1 1 1 1 1 2 1 2 2 1 1 1 2 1 1 1 1 1 1 1 1 1 1 1 1 2 1 1 1 1 Cheapest 60 rental properties in Malta and Gozo

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