The owner of a property in Malta who rents it out can expect a return on their investment of 6.64%, according to research carried out by payment services provider WorldFirst.

The European Buy-To-Let League table found that Ireland gives the best return, (7.08%), for the second year running. But Malta has leapfrogged from 8th place to second.

The research found that the average rent for a one bedroom apartment in an Irish city has soared to over £12,000, making it the second most expensive country to rent in the EU after Luxembourg which costs city renters over £14,000 per year. And while sale prices have seen an increase, these have remained closer to their European counterparts with the average cost of a one bedroom apartment in an Irish city costing over £168,000.

The other countries in the top five – Portugal, Netherlands and Slovakia – all give yields over 6%. 

“All four countries have relatively low property prices yet rental averages provide an opportunity to earn a decent income,” World First commented.

At the bottom of the table are Sweden, Croatia, France and Austria, which provide returns of less than 4% due to high property prices and stagnant rents