What is a good renatl price in the old town?

Hello

We're moving to Gozo at the end of August/end of September in time for the new academic year. We previously lived in Fontana for six months in 2011, but this time we want to make a more permanent home in Victoria's old town. When we visited in November we received mixed advice, with agents saying 1) we will find it difficult to find somewhere to rent in the old town, and 2) the rent will be a minimum of 500 Euros; however, the landlord of one of the places we stayed in said they had a friend who (at that time) had a house in the old town that he would rent for 350 Euros.

Does anyone have any experience of renting in this area and what a fair/realistic price-range would be? Also, are there any pros/cons to living in this area?

Thanks

p.s. apologies for the mis-spelling in the title