Generally, the price of property rent in Malta depends on the location and the type of property you are looking for. The rental prices are lower in the south of Malta. However, it is also possible to find cheap properties in the north. The following are a few tips that can help you reduce the price of your rent.
Location affects property price
Whether you’re buying or renting, location can affect property prices in Malta. Aside from the location itself, factors such as perception also play a part. The hedonic price index is a useful tool in determining the characteristics of a particular property, and in this case, it provides an insight into location.
Similarly, the cost to rent a 115-square meter apartment was almost half of the rental cost in the United States. This was a result of a lower cost of utilities, as well as a lower cost of living.
Standard living room furniture in Maltese flats
Whether you’re looking for a new place to call home or a place to vacation, Malta is a great place to consider. Malta has a plethora of property options for every budget.
The rental rates for entry level apartments vary from 150,000 to 200,000 dollars. The price for a furnished two-bedroom apartment is roughly $550 per month. In Malta, there are also several boutique hotels to choose from. These hotels are often converted from large upscale buildings into smaller apartments. Occasionally, the owner lives on site. Typically, the property is fully furnished, with indoor and outdoor furniture and appliances.
The rental rate is also determined by the location of the property. Malta is a small island in the southeastern Mediterranean. It has an affluent population and many tourists and retirees choose to spend time in Malta. The rental rates are reasonable in the European capital.
While you are looking for a new place to call home, you should also take a look at the local real estate market. There are several rental agencies that offer homes for rent, with some properties being available for as little as a few hundred dollars per month. In addition to the standard rental fee, you might also have to pay for damage insurance.
Lower rental costs in the south of Malta
Compared to the United Kingdom and the United States, Malta has a much cheaper cost of living. But, how much can a family living in Malta afford?
The cost of living in Malta depends on the family composition and the location. However, renting a flat is usually cheaper than owning.
Malta is a small island. It is also known for its ancient architecture. It has a warm Mediterranean climate and many hours of sunshine. In addition, you will enjoy fresh seafood. Its small size helps keep the costs of living low.
Avoid money transfer expenses in Malta
Whether you want to buy property in Malta or rent it, there are ways to reduce money transfer expenses. One of the most obvious ways is to avoid traveler cheques. They are expensive to change, and they aren’t the most convenient.
Another way to save on money transfer expenses is to use a Wise account. With Wise, you can convert your money to EUR using a mid-market exchange rate. This way, you are always aware of how much money you have in your account and what the conversion rate is.
It can also help you avoid currency conversions and currency conversion fees. By opening an account with Wise, you can avoid the hassle of traveler cheques, as well as no hidden fees.
If you’re renting a property in Malta, it’s a good idea to take out insurance for your home. This will cover any repairs that need to be carried out, as well as any new furniture. The cost of real estate insurance is between EUR50 and 100 a year.