📋 Tender Overview
Today we are seeing how the Private Residential Leases Act is bearing fruit where 61552 private leases were registered during its first two years said Minister for Social and Affordable Housing Roderick Galdes as it was published. the second edition of The Annual Malta Residential Rental Study. Minister Galdes added that by the end of last year there were 37976 active leases an increase of more than 12000 active leases when comparing these figures with the number of active leases by the end of 2020. . It is encouraging to see 13520 contracts registered in 2020 remain active until the end of 2021 reiterated Minister Roderick Galdes. when you see that two thirds of the premature leases took place by agreement between the two parties during the year 2021 Of all the active contracts which are maintained on the registration system based on the secure blockchain platform 93 are located in Malta while 7 are located in Gozo. Housing Authority Chief Executive Leonid McKay said the second edition of this study sheds light on various issues related to private residential rental reform. He stated that Statistics show that there are about 70000 tenants living in private residential tenancy. This figure shows that reform efforts that have full market visibility and that every lease is registered are being met. Mr McKay stated that together with a team of experts from the Central Bank for the first time they are publishing an index of private rents in our country. He thanked all the members who worked on this report and said that As an Authority we have a responsibility to discuss issues such as affordability as well as to have the courage to make a detailed analysis of the work and decisions taken by the Panel. Arbitration of disputes between the parties concerned. Minister Roderick Galdes concluded by saying that it is clear that both landlords and tenants are agreeing that the lease should be registered so that both parties can enjoy the peace of mind that this only the law can offer. The second edition of the report on Private Residential Leases can be accessed from this link httpsrentregistration.mtwp-contentuploads202206Residential-Rental-Study-2nd-edition .pdf .
