Island Properties

Formation and Company Background

The company now known as Island Properties began life as a small, family-run business dealing in rentals, concentrating on properties in Central Malta.

The client base quickly outgrew the properties they had available, so in 2010 Cecil McCarthy formed McCarthy Rentals. In 2015, Cecil was joined by Alan Attard, and they rebranded the company as Island Properties to reflect its expanded nature of dealing with sales and rentals in Malta and Gozo. Cecil McCarthy and Alan Attard remain as co-owners.

The Branch Network

Island Properties operates out of a single branch location in Malta which is found on Rudolph Street in Sliema, one of the most popular and desirable locations on the island.

Employees

Whilst exact staff numbers are not readily available, their website highlights the value of their strong knit team on their website. A firm of this size will usually boast an ‘on the ground’ agent presence of anywhere between 7 and 14, including support and administrative staff.

The Operation

Island Properties offer a strong menu of real estate and related services.

Buying and Selling: Listings include all types of properties across Malta and Gozo in both the residential and commercial sectors. The price range is very wide, from one bedroomed apartments to large hotels.

Lettings: Furnished and unfurnished are included in the listings and the range runs from single-person homes and family homes to lifestyle properties and also holiday homes.

Rooms: As an extension to the lettings business, Island Properties are one of the few real estates who offer a rooms service. Essentially, this is room sharing. Clients can rent a room in an apartment or house shared with others.

Buy to Let: This service is aimed mostly at people outside of Malta looking to invest in the islands but also open to Maltese looking for property as an investment or source of income.

Management: this agency can tailor-make a management scheme to manage a property, which can be anything from the most basic needs to the most in-depth management. A maintenance service is also available.

Consultancy Service: Experienced consultants are available to advise on relocating to Malta if you’re moving yourself, relocating with an established company or looking to establish a business base in Malta.

Interior Design: This service is available to anyone who wants to redecorate a room or completely design a new space.

There are multiple search options on the website and other useful features include a mortgage calculator and an image that can be scanned by a mobile phone which will take you directly to the Island Properties’ Facebook page.

Fees and Commission

It is fair to surmise that this real estate agency most likely follow suit with the standard figure of a 5% commission fee for any property sale with the possibility of a lower percentage if clients accept a sole agency contract. It is also assumed that the company charges the standard for lettings, i.e. the equivalent of half a month’s rent, plus VAT for both lessee and lessor.

Reasons to Choose Island Properties

There are certainly real estate agencies that boast more branches and more current longevity than this one, but among the smaller operations, the company stands out for the breadth of its services. They place a strong emphasis on matching the right property with the right client, with customer service at the forefront of every transaction.