Saturday, 27th June 2009

Letting market 'getting stronger'

The letting market is going from strength to strength, according to Belair Real Estate, which maintains that property remains a safe investment in spite of the economic turmoil.

The estate agent says its buy-to-let scheme has been well received since its launch in February with investors making the most of low interest rates and the opportunities available in the rental market.

Commercial office rentals are also on the rise, with more foreign companies availing themselves of Malta's tax advantages and skilled labour force.

The north harbour remains the most sought after area and the highest demand seen by the agent is for premises in St Julians, Ta' Xbiex and Sliema.

On the foreign front, Belair's collaboration with Go Sicily Properties was described as a huge success with a number of plots sold in the exclusive Borgo Lucia project in Noto.

Developed by Land Overseas Property Fund and Sicily Farmhouses Ltd, this project is being marketed exclusively by Belair Real Estate together with Go Sicily Properties.

It consists of 27 plots with an average size of 10,000 square metres per plot, all enjoying exceptional country and sea views.

These projects and a range of property for sale or to let will feature in the eighth issue of the real estate magazine, out tomorrow with The Sunday Times.

Belair Real Estate's property magazine is designed by Mediamaker Ltd and printed by Progress Press, both members of the Allied Group of Companies.

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Article © Allied Newspapers Ltd., printed on Sunday, November 22, 2009. This article is for personal use only, and should not be distributed.

Comments

Greig. Daniels (Visitor to the Islands) (on 28/6/09)

Yes i can well believe that Paul, and i don't think there are going to be any feedbacks to your comments, because it happens to be true, i wish some property sellers or even To Let * don't pull any punches and come up with a true description or shall i say an up to DATE lay out instead a of a load of bull just to attract a would be client on a false deception., especially when they say country views, what bloody country views/ there might have been some views before property developers started to block them all.

Paul& JeanCrowther (on 27/6/09)

You won't believe this but on two occassions we as new comers to Gozo have called in some agents, friendly enough, show us some nice properties, glossy coloured mags, beautiful scenary,and well furnished properties, but then the is when the clanger drops, when actually viewing these so called NEWLY BUILT properties in various parts of Gozo turn out to be no more then a damp, old buildings, unattended, and what about the new furniture as featured in the col.brochures, the owners must have taken the advertised pictures some hundred years or so previously, so i say no but no thanks, i prefer to take a long let and then if we get cheesed off, all we have to do just pack up and say goodbye. one other fault that tends to get up my nose, is why advertise a place for double the price then when one negotiate the owner just drop with no questions ask,, Greediness is their favourite passtime in Gozo i reckon. we've seen the light now good and proper.All i can ay to my fellow country men is to just shop around and don't bow down to them otherwise they'll just take you for a ride.

Nigel Lawrence (on 27/6/09)

buy-to-let scheme has been well received----

Obviously this character does not read foreign news. It's the "buy to let" brigade that ruined the housing markets. It'll probably do the same thing here as property "investors" think that the Maltese housing market is so different than that of the rest of the world.

Martin Busuttil (on 27/6/09)

"The letting market is going from strength to strength."
No wonder. Try buying from the housing department, Lm41,000 for a shell form apartment in Pembroke, and Lm 5,500 for a garage, and that was the subsidiesed price 2 years ago.
Letting, I pay 279 euros monthly for an unfurnished maisonette, in the south. Not that I have any thing against the south part of Malta.
Chipping out the rent out of my wages, leave us, a family of four in dire straights, when it come to live.
The Social Housing Department tells us "Yes you have enough points, but we are sorry to tell you, but we haven't any vacant tenements."
"Still if we have, you still have to pay the rent "AT OPEN MARKET PRICES", and then apply for subsidy.
God only knows when and how we are going to be allocated a tenements.

I Abela (on 27/6/09)

@ J Portelli - would you kindly share with us the reasonable price you are asking for your apartment, the size, bedrooms, age, and views? You know, I can see the sea from my apartment in San Gwann. And the reasonable price ?? Well, some people consider a 1000 EURO monthly a reasonable price as well.

Jerry Baines (on 27/6/09)

Well i tend to disagree, not many people can afford to buy these vast empty properties you guys have in Malta and maybe even more in Gozo. Blimey you have more empty half built shell form properties then people as a matter of fact half the country is up for sale,i personnally as a foreigner sorry (GUEST) i'll never invest or buy a property on the islands, its a long story but we all know why, ie., try re-selling not a chance in hell i know, i have other foreign friends who are in the same predicament so we decided to take a long let, this way i can come and go at my hearts delight and haven't got the chip on my shoulders, let some greedy so and so take that responsibility. Someone said to me i reckon that Printers here would make a fortune printing < 4 Sale> signs all day long, better then jobbing work cause everywhere we look its for sale with sea views and country views, some agents even show pictures of the* views* but not the actual property or the condition of the property or whats next door.

Galea. L (on 27/6/09)

J Portelli
They have caused such a stagflation (term borrowed from economy) in the property market that they will resort to anything to get rid of the property.

Josef Portelli (on 27/6/09)

Is property really a "safe" investment when according to a survey done by the Malta Chamber of Commerce, prices my have dropped by some 30% since peaking in 2007? why do the authorities let estate agents with huge vested interests get away with such blatantly false assurances? it does not take a genius to realise that malta is flooded with unsaleable property that will take years to shift and property is anything but a safe investment.

J Portelli (on 27/6/09)

That is a lie. After 2 years on the market my flat with seaview still hasnt rented. 2 estate agents only brought 2 people to see it. The price is resonable. When I asked the agent why it's not renting she said, she has 470 empty flats for rent.

The real estate people want you to think flats are great investments, so they lie, and say the market is in great shape. How can the market be in great shape with 70,000 empty flats!!!!

Letting market 'getting stronger'

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