Article

Sliema is not the Limit

While Sliema is still the most popular home of the iGaming industry, the industry is now heading to other areas too, which offer great opportunities but lower prices.

 

Commercial property in Malta is booming, especially in more sought-after areas such as Sliema and St Julian’s. While it is still relatively easy to find smaller offices in these areas, in recent years more iGaming companies set up their offices in the surrounding or central areas, such as Gzira, Msida or Birkirkara. 

iGaming companies heavily invest in interior design and activity-based spaces. We have seen some companies investing in fully equipped gyms, cinemas, open and collaborative spaces, kitchen and dining areas complete with a chef and free healthy meals.  

We know that relocating to a new country is not just about finding a new home or an office. Our company has a broad service offering, and we ensure that our clients’ relocation to Malta is as stress-free as possible. We are providing highly personalised relocation assistance, and we can take of everything from housing to schooling.

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Office relocation doesn’t need to be a nightmare if properly handled. We always make sure new facilities meet the current and future needs of a company. It is our top priority to provide excellent service and treat all clients equally, no matter the budget. 

Malta’s market is shifting into high-rise mode, which will help to increase the property stock in Malta without impinging on open spaces. High-rise buildings work very well for smaller companies; however, we have made the experience that large companies, which often need up to 6,000 square metre space, prefer to have their own office block.

Real estate prices have been rising in Malta on the back of population growth and limited real estate supply. However, with hundreds of new units to be completed over the coming years, prices are expected to stabilise in the near future.

RE/MAX has been working together with the iGaming industry since its inception in Malta. 

Today, clients from the iGaming industry are amongst the most important for us —the industry forms 40% of our business, and therefore, there is hardly anyone in the real estate sector who knows how to handle a client’s needs the way we do.

Sliema and St Julian’s have always been the most sought-after places to live, but while the vibrant lifestyle of these areas is still appealing to many, today more clients are choosing to live in more peaceful and remote areas in the south and the north of Malta. 

The Gozitan rental market has seen a noticeable growth in the last two years. Once known as an attractive retirement destination, the island is now experiencing high demand from the gaming sector, with an increasing number of remote-working professionals as well as entire teams choosing to live in Gozo. We have more than 30 offices in Malta and Gozo and a team of 40 professional letting associates. The company is growing, and we are planning to enlarge our team to 60 people by the third quarter of 2019.

Infrastructure investment is high on Malta’s agenda. The government is upgrading the road network, and there are plans to invest in cycle lanes and other forms of transport. These projects are expected to boost connectivity and reduce traffic congestion, which will make it more appealing for the iGaming industry to move out of its established centres. 

The cost of renting an office in Sliema ranges between €250 and €350 per square meter per annum. However, clients that are interested in a high-end office block located on the seafront need to be prepared to pay between €350 and €600, while rents in central areas vary between €130 and €200. 

Residential rental prices in Malta range from €600 to €1,000 per month for standard accommodation, while rents vary between €1,500 and €3,500 for the middle market sector, and go up to between €4,000 and €12,000 for high-end luxury properties.


Photo Credits (Sliema seafront): viewingmalta.com

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