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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.
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.
www.maltabuyproperty.co.uk
www.raywoods.co.uk
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