| A repeat of the high property inflation in | | | | 'With lower fares, Malta becomes a |
| Malta when it joined the EU in 2004 could | | | | destination viable for 3 and 4 days trips a |
| become reality with the news that low cost | | | | few times a year from the UK, and that will |
| airlines are to fly to Malta, and has given | | | | attract buyers to look at Malta in the same |
| the Mediterranean island's real estate | | | | way they do France and Spain when considering |
| industry hope that 2007 could be an | | | | where to buy a holiday home abroad. The Malta |
| exceptional year for price rises and sales. | | | | weather and low fares could be a magnet for |
| | | | buyers.' |
| In recent years the arrival of low cost - | | | | |
| sometimes referred to as 'no frills' - | | | | There is a warning however from YourMalta |
| airlines to a regional airport has seen | | | | that property prices on the island might not |
| property prices within a two hour drive | | | | necessarily escalate in the same way that |
| escalate in popularity and price, especially | | | | regions of France have seen when low cost |
| among British buyers for France and Spain. | | | | airlines have started flying to their region. |
| | | | |
| With the advent of these new flights to | | | | 'The Malta government has allowed more land |
| Malta, there is a possibility that demand for | | | | to be used for property, and we anticipate a |
| real estate in Malta will increase. | | | | lot more apartment blocks being built short |
| | | | and medium term. Supply might well meet |
| Commenting on the news, Malta holidays guide | | | | demand. Unless the political map of Malta |
| say that a double digit property inflation | | | | changes and with it a change of policy |
| figure for Malta is quite possible for 2007. | | | | towards her environment, there is a danger of |
| | | | Malta becoming the Tower Hamlets of the |
| 'Cheap airline destinations have proved to be | | | | Mediterranean, or 1970's Spain where |
| a magnet for UK property investors, and if | | | | development spoiled much of the coast.' |
| that trend continues then prices will go up | | | | |
| in the next twelve to twenty four months', | | | | Concern has also been expressed on the island |
| they say. | | | | about the infrastructure, with some tourists |
| | | | and potential property investors berating the |
| 'Other than the local market, the UK provides | | | | state of the roads and - compared to mainland |
| most buyers for property in Malta, and with | | | | European and UK standards - dangerous |
| the British economy doing well it's quite | | | | construction sites. |
| possible that the island will be seen as a | | | | |
| good investment opportunity'. | | | | 'The real winners from the low cost flights |
| | | | could be the Malta hotels rather than the |
| Malta Vacation | | | | property industry', conclude YourMalta. 'We |
| | | | envisage a lot more people taking short three |
| Tribune Properties, a UK company specialising | | | | and four day holidays to Malta, often booking |
| in property for sale in Malta, agree that | | | | their flights and hotels on the internet |
| property prices could rise in 2007. | | | | rather than via a traditional high street |
| | | | travel agent'. |