Definition:
The residential real estate leases market refers to the market where landlords and tenants enter into agreements for the rental of residential properties, such as apartments, houses, and condominiums. The lease outlines the terms of the rental agreement, including the duration of the lease, the amount of rent to be paid, and the responsibilities of both the landlord and the tenant. The lease may also include provisions for security deposits, maintenance and repair obligations, and renewal options.Structure:
The residential real estate leases market comprises the lease of houses and apartments.Additional information:
The residential real estate leases market includes the following KPIs: the revenue generated by real estate leases, the number of real estate leases, the average revenue per real estate lease, the share of dwelling type of tenants, and the average room per tenant. The dwelling type shares comprise the shares of the renter population that lives in houses and apartments.Most recent update: Jul 2024
Source: Statista Market Insights
The Residential Real Estate Leases market in Malta has been experiencing significant growth in recent years.
Customer preferences: One of the main reasons for this growth is the increasing demand for rental properties in Malta. Many people are choosing to rent rather than buy a property, either because they cannot afford to buy or because they prefer the flexibility that renting offers. Additionally, the influx of foreign workers and students to Malta has also contributed to the growing demand for rental properties.
Trends in the market: One trend in the market is the rise of short-term rentals, particularly through online platforms such as Airbnb. This trend has been driven by the increasing popularity of tourism in Malta, as well as the high demand for short-term accommodation from expatriates and digital nomads. Landlords are capitalizing on this trend by converting their properties into vacation rentals, which can generate higher rental income compared to long-term leases. Another trend in the market is the increasing interest in luxury rental properties. Malta has become an attractive destination for high-net-worth individuals, who are looking for exclusive and high-end rental properties. As a result, there has been a surge in the development of luxury rental properties, particularly in popular areas such as Sliema and St. Julian's.
Local special circumstances: One of the unique factors influencing the Residential Real Estate Leases market in Malta is the limited availability of land. Malta is a small island with a high population density, which means that there is a scarcity of land for new construction projects. This scarcity has led to a high demand for existing properties, both for sale and for rent. As a result, rental prices have been increasing steadily, making it a lucrative market for landlords.
Underlying macroeconomic factors: The strong performance of Malta's economy has also contributed to the growth of the Residential Real Estate Leases market. The country has experienced steady economic growth in recent years, driven by sectors such as tourism, financial services, and gaming. This economic growth has led to an increase in disposable income, which has in turn fueled the demand for rental properties. Additionally, the government of Malta has implemented policies to attract foreign investment, which has further stimulated the real estate market. These policies include tax incentives for property investment and the introduction of the Malta Individual Investor Program, which allows foreign nationals to obtain Maltese citizenship in exchange for a significant investment in the country. In conclusion, the Residential Real Estate Leases market in Malta is experiencing significant growth due to increasing customer preferences for rental properties, the rise of short-term rentals and luxury properties, the limited availability of land, and the strong macroeconomic factors driving the country's economy.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Data coverage:
Figures are based on total and average revenue of residential apartment leases.Modeling approach:
Market size is determined by a bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.Forecasts:
We use a variety of forecasting techniques, depending on the behavior of the market, for instance, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.Additional Notes:
Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war considered at a country-specific level.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights