Rentals find a new market: locals looking for luxury

A new trend in the rental market is seeing locals looking to move into luxury villas with pools for the summer with space being more sought after in this period of self-isolation. Estate agents have confirmed the rise in rental requests for houses with gardens, or penthouses with large terraces and views, from Maltese families who are not their typical clients. The pandemic has had an impact on the “appreciation” of the outdoors in homes and the importance of quality family time, they say. [attach id=875609 size="large" align="left" type="image"]Outdoor spaces are in particular demand. This is property is in Lija. [/attach] Resigned to the idea that they will not be taking their usual family holidays overseas, and hotels will not be opening any time soon, some locals are happy to spend a monthly €4,000 to €6,000 on a house with a pool over the summer, says Belair Property managing director Ian Casolani. He has noted this trend from the start of the outbreak. Owners of short-let properties, who have been renting at good daily rates, have found themselves in dire straits since their business was wiped out with the closure of the airport. But their woes can be slightly mitigated by...