Gzira Property Guide: Malta's Fastest-Changing Town

Ten years ago, Gzira was where you lived if you couldn't afford Sliema. Today it is a market in its own right — denser, younger, and more international than almost anywhere in Malta, with a seafront promenade that rivals its famous neighbour at a 35% discount.

The numbers

From live listings across all agencies on Darna (mid-2026):

• Average asking price (sale): ~€640,000
• Average 2-bedroom (sale): ~€636,000
• Average 3-bedroom (sale): ~€964,000
• Average asking rent: ~€1,630/month
• Average 2-bedroom rent: ~€1,643/month

Gzira consistently carries one of the island's largest rental inventories — typically 2,400+ active rental listings — making it the default landing zone for new arrivals working in Sliema, St Julian's, or the nearby gaming companies.

Where to look within Gzira

The seafront (The Strand / Triq Ix-Xatt). Direct Manoel Island and Valletta views. Apartments here price closer to Sliema levels — €750,000+ for two-beds with views — but rent fast and hold value. Traffic noise is the trade-off. The grid behind the seafront. The streets between Rue D'Argens and the front (Triq Manoel De Vilhena, Triq Ponsonby) offer the best balance: two minutes' walk to the promenade, considerably quieter, and €100,000–€150,000 cheaper than front-line equivalents. The Metropolis / Rue D'Argens corridor. Dense, busy, and where most new development concentrates. Newer blocks come with lifts and garages — older walk-ups without lifts are noticeably cheaper and harder to resell. Manoel Island. The long-delayed development of Manoel Island remains Gzira's wild card. Any progress lifts the entire seafront; check the latest status before paying a view premium that depends on an unobstructed marina.

Who Gzira suits

• Young professionals working in the Sliema–St Julian's corridor who want walkability without Sliema rents.
• Investors targeting the rental market: vacancy in Gzira is among the lowest on the island, though note the supply pipeline below.
• Buyers priced out of Sliema who still want the seafront lifestyle — the promenade connects directly to Sliema's.

What to watch out for

1. Construction saturation. Gzira sits at the heart of the permit boom. Check what is approved on adjacent plots (Planning Authority's website lets you search by street) before buying a "view" or even daylight.
2. Older stock quality. Much of Gzira's mid-century housing was built fast and cheap. Budget for rewiring and plumbing in anything pre-1990 that hasn't been redone.
3. Parking. Street parking is brutal. A garage adds real resale value here — figure €35,000–€60,000 for one, and it is usually worth it.
4. Ground rent (ċens). Common in Gzira. Always ask whether the property is freehold or subject to ground rent, and whether it is redeemable.

The investment case

Gzira's rental demand is structural — proximity to employment, the university (one town over), and the seafront. Two-bed units bought around €450,000–€500,000 in older but renovated buildings, renting at €1,600+, gross around 4% with very low vacancy. The risk is commodity oversupply in new blocks; the mitigation is buying character or location that new supply cannot replicate.

Browse every active listing in Gzira from all agencies on Darna's Gzira page.