In line with its expansion strategy, the Frank Salt Real Estate Group has opened its 11th office on the island, focusing specifically on residential letting and commercial properties.

The company also recently expanded its management team by appointing a number of new managers and property consultants.

Frank Salt Real Estate reports that 2010 has been very positive for the real estate market. Demand for properties for sale has improved considerably when compared with 2008 and 2009 figures, while the decline in property prices has slowed down and has stabilised.

The rental market, the company adds, has been strong and consistent throughout this period. More local and foreign property owners have decided to invest in property rentals and are reaping great results. The rental market has been improving over the last years, so much so, that Frank Salt Real Estate has seen the need to complement its existing letting team with a further branch dedicated solely to such type of properties.

“We have now established ourselves as the largest letting department on the island,” comments property letting manager Edward Hamilton. With letting consultants spread across the island in specialised branches, foreign nationals relocating to the island for employment or investment can have expert consultations in any area they desire. We are in fact constantly looking for rental properties to register and have embarked on a number of exercises to promote investment in buy-to-let properties.”

The new branch in Tower Road, Sliema also houses the commercial property division. Run by its new manager Joseph G. Pace and complemented with a team of four experienced property consultants, the division has expanded rapidly in the last few months and has set itself the goal to become the commercial property agency on the islands. The Commercial Department has been operating since 1990 and today enjoys a dominant market share, having established itself as a point of reference in the business community.

The department’s client base consists of both private and corporate clients, local and overseas, some of whom represent large blue chip corporations, banks, embassies, international companies and investors. The database of commercial property, which includes offices, retail, factories, warehouses, catering establishments, hotels and commercial sites, represents the largest selection of commercial property on the island.