The rent charged by landlords has gone up by as much as 15 per cent in the past year in areas such as Sliema and St Julian’s, according to Frank Salt property consultants.
Demand has been building up to the point where a tenant can be found within a week, senior property consultant Bertille Lungaro Mifsud said.

“There are simply not enough properties available for us to keep up with requests,” she added, saying that this was encouraging more and more people to invest in properties as buy-to-rent.

“Tenants are looking for good properties, so you have to be prepared to pay €150,000 for a one-bedroom flat,” she explained.

The rental scene has taken on a life of its own, shaped primarily by the gaming industry which has resulted in an influx of young, often single Scandinavians, who want to be in the hub of social life, with restaurants and bars just outside their door.

“There are also other nationalities and also families who might opt for somewhere quieter, like Balzan, but Scandinavians want the Mediterranean lifestyle,” property consultant Nadya Muscat said.

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