Valletta, Malta

UpperKey: The elite management service that offers guaranteed rental income in Valletta

For anyone looking at investing in property overseas, Valletta, the capital of Malta, should be seen as a significant consideration. Sat in the south of the Mediterranean, you’re guaranteed fantastic weather almost all year round. Even the winter season is short and mild.

Who wouldn’t delight in over 3,000 hours of sunshine each year?

For those looking to make a return on an investment, however, it can mean a lot of hard work. Trying to balance every angle of letting a holiday apartment or short-term stay let could be enough to put many investors off. Yet with the lure of Malta’s capital as a second home or a holiday location whenever the desire rears its head, that could be a little too much to turn down.

That’s where we come in.

Premium property management in Valletta

UpperKey offers guaranteed rent schemes in Valletta, managing every last detail of the work involved—while you sit back and reap the rewards.

We manage every aspect of letting your apartment and pay you for the privilege. There’s no risk to our clients of an empty property, as you’ll receive the full amount of guaranteed rental income we promise, every month.

We manage the servicing, the upkeep, marketing and presentation of your property. We’ll meet and greet guests, organise changeovers, resolve any issues, as well as market and advertise your apartment on all the right platforms.

How does that sound? We guarantee to take the heavy lifting out of your exciting new property investment in Valletta—so why wait?

Valletta: A Mediterranean paradise of culture and history

With its abundance of sunshine and heavenly weather, Valletta isn’t just a sun-seekers paradise. Of course, it is surrounded by the sea, beaches, superb swimming and stunning vistas, yet there’s so much more to this thriving capital.

Art and culture

Valletta is an art-lovers haven. Whether you want to take inspiration from the stunning surroundings and pick up your pencils and paintbrushes or look in on one of the many visiting exhibitions housed in a wide selection of museums and galleries, you’ll be very well catered for.

Haute cuisine to street food specialists

The food culture of Valletta is wide open and all-embracing. You’ll find cafes and restaurants to satisfy every taste: from Indian, Arabic, French and Maltese. Not only that, there’s something for every pocket. Valletta’s dining culture ranges from fine dining to street vendors.

A picture postcard of historical wonder

The city sits high on a peninsula between two natural harbours and its history still stands as proud as ever today. The city, built by the Knights of St John and aided by the most respected military engineers of the 16th century, is steeped in Renaissance style and architecture.

Every view is breathtaking; each street feels like you’ve just stumbled into a postcard. You’d be forgiven for thinking you’d taken a step back in time at every turn and street corner.

It wasn’t voted the Capital City of Europe for Culture in 2018 without good reason.

Property investment in Valletta

The property opportunities in Valletta are limited. Unlike many of the vast development changes seen throughout the rest of Malta, the laws governing the construction of new builds in the capital prevent this. This has kept the market tight, so any investment in this limited market will continue to increase in value.

With the market in Malta showing a steady increase, investing in Valletta is a prime piece of Malta real estate, and the rewards should be significant.

However, the prices of property throughout all Malta have shown a sharp increase, not just recently, but over the past 20 years.

The Central Bank of Malta indicated that prices continue to rise, at around 10% over the year leading up to the first quarter of 2019.

This rise in property prices has been the result of several factors.

Malta, on the whole, has a low-interest rate and a healthy economy. It now features a growing digital marketplace, with new developments around the island breaking existing traditions. Regulations and restrictions are being lifted to provide incentives for new industry and wealthy businesses to make their home here.

Government incentives in the property market

The government has introduced schemes to assist buyers entering the market. Exemptions on stamp duty for first-time buyers; stamp duty refunds for second-time buyers replacing their current home, and higher refund rates for homeowners with disabilities.

It might not be creating the happiest residents out of its nationals, but so far, Valletta has escaped the trend. Another reason why this stunning city is so sought after. Retaining its wonder and charm, this historical marvel is a wonderful long or short-term home for any adventurer or homemaker.

Renting an apartment in Valletta

Valletta is densely packed, and between the offices, government buildings and many churches, you will find a select number of properties available for rent. As you would imagine in such a limited market, prices are high, and the competition is abundant.

  • You’d be expected to pay around €1,500 for a two-bedroom apartment, compared to rents nearer €1,000 in Sliema or St. Julians—Valletta’s suburban neighbours.
  • Luxury apartments in the most fashionable districts will fetch over €2,500 and family homes and villas with more than 3 bedrooms, €4,000 and more.
  • Very little of the rental market is rent-controlled, so contracts are a must. Malta tends to operate in a landlord-favoured market.

That said, the country has introduced residency schemes to attract wealthier ex-pats. Both of which feature real estate requirements. The Investor Visa Program and Citizenship By Investment Scheme dictate minimum rental figures of over €10k and €16k with minimum a minimum term lease of 5 years for the Citizenship scheme.

Property & Rental Values in Valletta

How much money do you need to buy an apartment in Valletta?
Given average apartment prices, buyers will need around £3.5k per square meter (€4k) to buy into Valletta’s property market. The lowest-priced properties currently stand at just over £2.1k/m2 with the top end at almost £8.7k/m2. (€2.5k–€10k)
What are typical rental prices in Valletta

  • A single bedroom apartment in the city centre offers an average rent of around £895/month. (€1k)
  • The bottom end of the market offers one-bed apartments at £657/month and top-end prices of around £1.2k/month. (€750–€1.3k)
  • A three-bedroom apartment in the city centre will achieve an average rent of around £1.2k/month. (€2k)
  • At the time of writing, Valletta’s three-bed apartment rentals ranged from £1.3k to £2.6k per month. (€1.5k–€3k)

UpperKey works efficiently and effectively to provide great value, but also to maximise profit. By offering the generous guaranteed rent scheme Valletta apartment owners need, within current market prices, we’re confident that we’re the best you’ll find.

Valletta: where to live and work or stay and play

Given that the city of Valletta is fairly small, only a few thousand of Malta’s 475k population lives there. The majority of residential opportunities around the capital reside in the towns that surround Valletta’s most fabulous harbour areas.

The ‘unofficial’ neighbourhoods of Valletta

There are eight unofficial neighbourhoods in Valletta.

These include:

Strada Rjali – the main thoroughfare around ‘Republic Street’
L-Arcipierku – close by the Mediterranean Conference Centre
il-Baviera – around the English Curtain
il-Biccerija – neighbouring il-Baviera and named after the slaughterhouse once located there
il-Kamrata – also nearby to the Sacra Infermeria (the Mediterranean Conference Centre)
Deux Balles – close to il-Baviera, with a name that suggests its origination was taken from the French occupation by Boneparte of 1798–1800
Manderaggio – behind the Manderagggio Curtain and bound by the streets of St. Mark, St. Lucia, St. Patrick and Marsamxett. Designed as a small harbour, but never completed, this area grew into a slum neighbourhood. Only in 1950 were the slums demolished and the residential housing estates built that occupy the region today.

The Southern Harbour District

Despite their small size, Malta likes to brand each of its towns as cities; many of which don’t appear much greater in size than typical neighbourhoods of other European countries.

The Southern Harbour District is home to Birgu, Conspicua and Senglea. They are old walled towns, and were popular places to make a home throughout history, yet, because the northern side of Valletta currently entertains the most fashionable areas to live, there are bargains to be found here.

For families, there are a handful of good schools, including De La Salle College and St. Edwards. St. Edwards is one of the top international schools in all of Malta.

You’ll also find plenty of sports and entertainment facilities, museums and eateries. Given that public transport is acceptable throughout the island, then you’re never really too far away from the pull of the city centre.

The Northern Harbour District

These suburbs, north of the harbour have become prevalent to new builds and residential developments over the past 10 or 20 years.

Sliema and St. Julians are very popular amongst expats. Ideal for night owls with an abundance of late-opening bars and restaurants, and a vibrant nightlife, yet these areas still offer the same charm you’d expect from Maltese towns and cities.

Once more, public transport makes the city-centre very accessible, only a short ferry ride away.

The most popular attractions to visit in Valletta

For those visiting Valletta, there is no shortage of beauty to be seen. With picture-postcard views around every corner, the city is a fabulous place just to wander, soaking up the sights and sounds with occasional (or regular!) stops in the many places to eat and drink, en route.

The most popular visitor attractions really aren’t to be missed. They feature a vast selection of history and culture, as you’d expect from a city that has retained its historical charm better than almost all of its European counterparts.

St. John’s Co-Cathedral

Possibly the most awe-inspiring of places to visit however long your stay in Valletta. From its exterior you would never expect such a richly decorated cathedral, dictating how important religion was to the Order of the Knights of St. John. An incredible example of the High Baroque era.

Grandmaster’s Palace State Rooms and Armoury

Once the seat of power for the Order of the Knights of St. John, this was one of the first buildings to be built after laying the foundations of the city.

The Palace State Rooms houses the museum, and again, is something to behold.

The Palace Armoury holds a vast collection of native arms and armour, giving a fascinating glimpse into the battles over previous centuries.

La Sacra Infermia – The Knight Hospitallers

The building stands proud on the seafront edge of one of the bastions of Valletta. It was one of the earliest hospitals built by the Knights and played an important role in the development of medicine and care of the sick.

The Manoel Theatre

A genuinely majestic building, rich in history, and at the heart of Valletta. Without the option of attending one of the infrequently staged events at the theatre, a 30-minute audio-guided tour is available to view the building and its museum. This building’s remarkable interior is a sight to behold and well worth the modest fee.

Upper and Lower Barrakka Gardens

A pair of the more peaceful locations of Valletta. The upper gardens offer amazing views from the gardens overlooking the Saluting Battery and the Grand Harbour. The lower gardens offer shade and a haven of peace.

Fort St.Elmo and the National War Museum

Built on the tip of the peninsula on which Valletta was built, the fort was paramount in defence of the city. The current building replaced the original fort, destroyed during the Great Siege of 1565.

Siege Bell War Memorial

Honouring the 7,000 people who lost their lives in the WW2 Siege of Malta, the bell is rung daily at noon. The bell was inaugurated by Queen Elizabeth II in 1992.

The Saluting Battery

Built as a defence platform, the battery operated as an artillery platform and to greet dignitaries and friendly ships into the harbour. Short re-enactments are carried out daily where one of the restored guns is fired.

Fortifications Interpretation Centre

A hybrid between museum and information centre, the plans and designs of Valletta and its fortifications are presented here using audio-visual and interactive presentations.

National Library

This was one of the final buildings to be erected by the Knights of St. John, built in 1776. It heralds a neoclassical design and houses an extensive library of books, as well as temporary exhibitions from time-to-time.

Casa Rocca Piccola

This is the family home of the de Piro family. It offers a view of aristocratic life, rich with antique furniture and features. A tour takes you through the museum designated parts of the building, the courtyard, and also the WW2 shelter 30m below ground!

Tourist numbers for Malta

  • Tourism to Malta has more than doubled over the past decade, with over 2.6 million visitors to the country each year.
  • Figures showed that 2.1 million tourists visited Malta during the first 9 months of 2019, showing an increase of 4.8% over the same months in 2018.
  • The tourism spend for those 9 months amounted to €1.8 billion—also a significant rise over the 2018 figures of 4.2%.
  • The majority of visitors to Malta arrive from Europe with UK visitors being the largest group by far, with well over 600k each year.

According to figures from an MTA Traveller Survey for 2018, around 9 out of 10 inbound tourists visited Valletta during their stay in Malta, with around 10% staying in the Valletta area. The figures suggest that tourists staying in Valletta increased by around 24% in 2018 compared to the previous year.

Wherever you look, tourism is growing throughout Malta and Valletta.

Maximising property investments with guaranteed rent in Valletta

When you choose UpperKey to manage your property, you stand to gain more than you think. The benefits aren’t solely financial. The amount of time you stand to save by having our team of property experts manage your apartment will open up more freedom for you to pursue as you wish.

We offer great peace of mind when you read our incredible testimonials. Your property is in the safest hands, and when it comes to financial reward, we offer one of the most competitive guaranteed rent schemes in Valletta.

If you’re considering investing in property in Valletta or anywhere else in Europe, or choosing a property management service you can truly depend on, we’d love to talk to you.

Our guaranteed property rental schemes are working for investors all over Europe. They could be working for you too.

UpperKey is one of the most respected guaranteed rent companies and agents in Valletta, and we’d love to show you why.