Flats in Malta


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Flats in Malta - what you need to look for

Flats in MaltaIf you would like to buy flats in Malta or enter an agreement where you can “long let” one (a contract where the property is leased for at least six months), in this article we outline a list of factors to consider when looking for the right one.

Factors to Consider

Flats (otherwise known as apartments) are found in great abundance in the Maltese market. While previously the main housing options were townhouses or terraced houses, the Maltese have since recognized the convenience of building blocks of apartments to accommodate more families in an area previously occupied by one. This type of property come in different shapes and sizes, with those situated higher up the block selling or being rented at higher prices than those at the bottom. Since they make use of a common entrance, the apartment owners generally share the associated maintenance and upkeep costs. Newly built ones generally are serviced with a lift but older ones might lack this feature - something you would need to take into consideration if you are eyeing one on the topmost floors. Budget, location, number of bedrooms and bathrooms, total area, the availability of a balcony or terrace: these are other things that you would usually consider when looking for a flat to rent or buy. 

Budget for renting or buying

If you are working with a real estate in Malta or if you signed up with sites like realestates.mt, keeping you ceiling budget in mind you can find the best place that you can afford. If location is not a problem, you can go for cities in Malta where the real estate rates are lower, so that you can rent a bigger apartment within the same price range. A real estate agent can show you which apartments best fit your requirements. If you use realestates.mt, you can browse through the local selection being advertised by agencies while being also able to view those properties for sale or rent directly from their owners. 

Conditions of the place

Moving into a new house is exciting and stressful at the same time. When viewing a flat you wish to rent or buy, keep an eye open for the condition of the place first. Is it brand new, used, furnished or half-furnished? Are you ready to spend money on renovations, or maybe a new paint job if you are considering buying a relatively cheap apartment that you feel has great potential? On the other hand, you can always invest in a brand-new property with its advantage being that it is finished to suit your personal tastes and needs.

The legal process of renting or buying a Flat in Malta

Let us say you found one of your liking. How does the legal process of acquiring the property go? If you are working with an agent, you should find out how long it has been on the market. Are there other potential buyers? Schedule a viewing of the property so that you can have a feel of what the neighbourhood and the flat itself is like. Be firm with your ceiling budget because if you go overboard, you might run into monetary problems later on. Once your offer is accepted, make sure that everything is in perfect legal order whether you are buying or renting the property.

True enough, nothing’s more exciting than the prospect of acquiring new real estate property, whether it is rented or bought. If there is one that you wish to acquire, it would greatly help to do thorough research so that you can find a unit that is best suited for your lifestyle, budget, and even your personality.

FAQ

Flats and apartments are two terms which are used interchangeably, depending on the region. The first one is a term that originated in the UK while in the US, apartments is more commonly used. In Malta they mean the same thing.
Studio apartments, one-bedroom flats or maisonettes are probably the cheapest options to choose from if you are buying or renting real estate property in Malta.
For this, you can get some help from a reliable real estate agent who will let you know about the available property on the market. Or, you can visit sites like realestates.mt where you can sign up and get listings for free whether you are buying or renting property.


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