Average two-bedroom apartment rent increased by 28.3% between 2022 and 2024

A study published by Solidarjetà showed between 2022 and 2024, the average rent for a two-bedroom apartment increased by 28.3%.

The study showed more than twice the increase in the mean national salary which rose by 12.4% during the same period. The author describes the current Maltese rental market as "structurally unbalanced and operates to the severe detriment of tenants."

Based on the official data released by the Housing Authority, the study shows rents for a two-bedroom apartment increased from an average of €770 per month in 2022 to €990 a month in 2024. Similarly, a three-bedroom apartment saw an increase from €925 to €1,120 a month respectively.

Regions where rents were previously cheaper saw some of the highest increases.

In Gozo, rents for a two-bedroom apartment increase by 42%, while in the Southern Harbour region rents increased by 40%. The excessive increases were observed in popular localities as well. In Gzira, for example, rents for a two-bedroom apartment increased by 45.8%, equivalent to an additional €377 per month.

The study compared the observed increase with a regulatory intervention which extended the 5% maximum price increases that is in place for multi-year contracts to apply between one contract and another. It finds that the actual 2024 price for a two-bedroom apartment (€989) exceeds this regulated model by €145 per month. This excess rent translates to annual increases of €1,300 to €1,740 per household.

A petition started by Patricia Graham, a member of Solidarjetà, calling for Parliament to "Tie the 5% rent increase directly to the original amount registered with the Housing Authority, regardless of whether a lease is renewed or a new tenant moves in" has already garnered over 800 signatures.

Solidarjetà reiterates its call for the public to sign the petition.