Selecting favourite areas is always a very subjective topic because there are city people and there are countryside people and they often don’t quite see eye-to-eye; however, these areas are always in high demand and can satisfy both groups of people.
Malta’s capital city spent many years being disregarded as a residential area deemed suitable only for businesses and for those who had been born in Valletta; no one actually wanted to move into the city. However, in recent years this has changed dramatically with people buying properties and renovating them, making Valletta a sought-after area for investment opportunities and a new location to settle. The average price for a property in Valletta would hover at the €400,000 mark, although there are doer-uppers available at lower prices, and there are a few gems that hit the million Euro mark.
An always popular choice, Sliema is one of the most cosmopolitan areas in Malta which appeals greatly to city people. Property here is always in demand making it an excellent investment opportunity, especially for rental. Nevertheless, it still remains a largely residential town and there are various types of properties available from townhouses in the inner streets to ultra-modern apartments in complexes like Tigne Point. Although the type of property that one chooses does impact the price, Sliema tends to demand a higher-than-average price point, with most maisonettes and apartments averaging at the €500,000 mark, and the prices increasing for houses and villas. Luxury apartments fall in another league altogether; however, so do their rental values with most apartments having a monthly asking price of over €3,000.
Although St Julians was originally a small fishing village, its present-day status tends to be more of an entertainment centre with all the restaurants, cafes, bars and clubs available in the area. It’s also the site for recent luxury developments including Portomaso, Pender Gardens, and the new Zaha Hadid Complex. These developments have increased the prices in the area and many foreigners opt to rent around here due to its proximity to all amenities. One bedroom apartments in Portomaso sell for around €600,000, with the price increasing as the number of bedrooms increase. Rental prices see returns of no less than €2,000 monthly for the smaller properties with asking prices rising by a couple of thousand Euro for larger apartments.
This is one of Malta’s villa areas; extremely suburban yet quite centrally located and close to the sea. The houses here are large and sprawling, with mature gardens and pools and a certain amount of privacy due to the space between one house and another. Owning property in Madliena holds a certain amount of prestige due to the high price ticket that these villas command. The average starting price for a house in this area is €1 million which may fluctuate depending on the age and state of the property. Regardless, property in Madliena is always going to be sold at a premium.
San Pawl tat-Targa
Another villa area in Malta is San Pawl tat-Targa, which, while being a village in its own right, is actually part of the larger town of Naxxar. San Pawl tat-Targa is another prestigious address to have with property here also being quite commanding, and swimming pools very common. The views from these houses are country ones and would therefore appeal to those who are looking for a quieter lifestyle. Most villas in San Pawl tat-Targa would have an average asking price of €1 million; however, there are more property options available with maisonettes and apartments being built and having a slightly lower price value.