Real estate agent reports rise in long lets

Frank Salt Real Estate Limited reported a 60 per cent growth in residential long lets between January and June over the previous six months.

Holiday lettings have remained the same as last year, letting manager Brian Decesare said.

Although letting by local clients was reported to have increased over the last six months, mostly in areas in the south and north of the island, the majority of lets were made to foreign clients who took up employment or residency in Malta or Gozo, he said.

The company's Gozo branch has also reported very good holiday letting over the last three months particularly farmhouses, which are highly sought after both by local and foreign holidaymakers. Residential long lets have doubled in Gozo during the last six months.

Mr Decesare said that in view of the present growth in the market and the expected demand following the anticipated rental reforms, the company, in addition to its office in St Julians, St Paul's Bay and Gozo, has set up another letting department within its Sliema branch located in Dingli Street.

The letting division at the Sliema branch will be run by Massimo Coleiro.