The value of property

Figures released by the European Mortgage Federation show Malta’s rise of property prices by over eighteen per cent was higher than both France and Spain. From Webwire:

If Malta can combine the attractions of a Mediterranean holiday island with a modern infrastructure and high tech friendly business in a low tax environment, today’s property prices could look like a bargain in five years time. The introduction of low cost flights to Malta from the UK will open up the possibility of more buyers looking at the island for holiday homes that could be used for long weekends, and the Malta hotels industry could reap the benefits of the 3 and 4 day tourist seeing the island as a viable place to visit.

Malta has traditionally seen the majority of her visitors from the UK, but this could be changing to a more diverse mix in future years. Last year saw a record number of visitors from Italy, and increased enquiries have been received at estate agents across the island from Scandanvia, Holland, France and Belgium, helping to increase the demand for Malta properties. After some years of wondering how Malta would fit into the modern world, property agents, hotel owners and the Malta holidays industry are beginning to see the future with some optimism.