TOURISM INCREASE HELPS TO FUEL MALTA PROPERTY SALES…

An estimated 7% rise in tourism to Malta this year, is helping to fuel a buoyant property market already adjusting to Malta’s entry into the Euro in January 2008.

[UKPRwire, Sun Aug 19 2007] An estimated 7% rise in tourism to Malta this year, is helping to fuel a buoyant property market already adjusting to Malta’s entry into the Euro in January 2008.

The opening up of the skies over Malta to operators such as Ryanair is helping Malta to reverse a decline in the traditional package holiday trade.

As a result, sales of property in Malta have continued apace with 80% of the properties in one development sold within hours.

The British love affair with Malta and its people continues, but thanks to low cost fares, a younger generation are discovering the attractions of an island in which English is a first language and where you can even drive on the left (3 abreast uphill though!).

Ray Woods, a spokesman for www.maltabuyproperty.co.uk said that in July, over 60% of residential property sales made though their associates in Malta, came from overseas buyers, with the majority from the UK. This compares with a year round average of 30-40%. He added,.
“The great thing about the Malta property market is that domestic demand is fundamentally strong. The Maltese love to invest in property and there is reportedly a lot of Maltese Lira under beds looking for a home before the Euro is adopted as the national currency. Everyone expects 2007 to be a boom year. The population is increasing steadily and planning controls are likely to restrict future development.”

Investing in property is still seen by many as a relatively difficult and risky business – and some tv programmes have created unease about the security of land rights in some European countries.

Malta by contrast is seen as a relatively safe and stress free location Country in which to invest – and its attraction has been increased by its membership of the EU.

Properties in Malta have increased in value by an average of 8% per annum, accelerating to 15% in the last 3-4 years.

For more details, go on line to www.maltabuyproperty.co.uk or telephone Freephone 0800 781 1898 for informal advice and guidance on buying property in Malta. You can also see them at a ‘Place in the Sun Live’ at Birmingham’s NEC between 28th-30th September 2007.

ENDS
Issued by: Ray Woods of www.maltabuyproperty.co.uk Tel: Freephone 0800 7811898.
www.maltabuyproperty.co.uk was established by husband and wife team, Ray and Elaine Woods who bought a second home in Malta in 2002 - and now provide a UK based advice and guidance service to other UK residents who may want to follow in their footsteps.

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