The Office of the Parliamentary Secretary for Social Accommodation published a White Paper entitled “Renting as a Housing Alternative” on the 15th October 2018.
This White Paper proposes to amend Maltese rent laws for property which would be leased for a “primary residential purpose”. It is currently not being proposed to extend the amendments to the rent laws for property leased for commercial or secondary residential use, or for tourism purposes. Lease agreements entered into before 1995 and “luxury properties” also fall beyond the scope of the White Paper.
Some of the proposals include early termination possibilities for tenants, automatic renewal of leases (unless a landlord gives prior notice of termination), and the registration of leases.
The current proposals also consider the possibility of having fiscal incentives in place for landlords to provide for longer contractual terms, and also mention the possibility of providing incentives for real estate investment trusts (REITs).
A copy of the White Paper can be found here.
GANADO Advocates will be submitting comments to the White Paper by the 30th November 2018.