The Maltese Government’s push for reform in the rental property market has resulted in new regulations being proposed with the stated intention of stabilising and further regulating a market which was loosely regulated when compared to other markets in Malta.
If approved by Parliament, the new rent regulations are expected to come into force on 1st January 2020.
While Malta continues to be a nation of homeowners, these Regulations are expected to regulate and consequently support the growth of the rental property market as an alternative to home ownership, by curtailing abuse and tax evasion.
These regulations should also be seen within the Government’s general vision for Malta’s property market, including the Government’s last Budget proposal to introduce the concept of Real Estate Investment Trusts (REITs) into Maltese law. REITs invest in real estate from which income is generated, and can be expected to flourish within an economy such as Malta’s where the property market is strong, growing year to year, and properly regulated to curtail abuse and uncertaintly.
To learn more about new rules and regulations, follow the link: https://www.maltasothebysrealty.com/contact-us/