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Malta Property Market Set For 2007 Price Rise

by Tribune

A repeat of the high property inflation in Malta when it joined
the EU in 2004 could become reality with the news that low cost
airlines are to fly to Malta, and has given the Mediterranean
island's real estate industry hope that 2007 could be an
exceptional year for price rises and sales.

In recent years the arrival of low cost - sometimes referred to
as 'no frills' - airlines to a regional airport has seen property
prices within a two hour drive escalate in popularity and price,
especially among British buyers for France and Spain.

With the advent of these new flights to Malta, there is a
possibility that demand for real estate in Malta will increase.

Commenting on the news, Malta holidays guide
http://www.yourmalta.com say that a double digit property
inflation figure for Malta is quite possible for 2007.

'Cheap airline destinations have proved to be a magnet for UK
property investors, and if that trend continues then prices will
go up in the next twelve to twenty four months', they say.

'Other than the local market, the UK provides most buyers for
property in Malta, and with the British economy doing well it's
quite possible that the island will be seen as a good investment
opportunity'.

Malta Vacation

Tribune Properties, a UK company specialising in property for
sale in Malta, agree that property prices could rise in 2007.

'With lower fares, Malta becomes a destination viable for 3 and
4 days trips a few times a year from the UK, and that will
attract buyers to look at Malta in the same way they do France
and Spain when considering where to buy a holiday home abroad.
The Malta weather and low fares could be a magnet for buyers.'

There is a warning however from YourMalta that property prices
on the island might not necessarily escalate in the same way that
regions of France have seen when low cost airlines have started
flying to their region.

'The Malta government has allowed more land to be used for
property, and we anticipate a lot more apartment blocks being
built short and medium term. Supply might well meet demand.
Unless the political map of Malta changes and with it a change of
policy towards her environment, there is a danger of Malta
becoming the Tower Hamlets of the Mediterranean, or 1970's Spain
where development spoiled much of the coast.'

Concern has also been expressed on the island about the
infrastructure, with some tourists and potential property
investors berating the state of the roads and - compared to
mainland European and UK standards - dangerous construction
sites.

'The real winners from the low cost flights could be the Malta
hotels rather than the property industry', conclude YourMalta.
'We envisage a lot more people taking short three and four day
holidays to Malta, often booking their flights and hotels on the
internet rather than via a traditional high street travel agent'.

Island travel guide YourMalta.com includes a <a
href="http://www.yourmalta.com/map">map of Malta</a> and <a
href="http://www.yourmalta.com/airport">cheap Malta flight</a>
information.

<a href="http://www.maltaproperty.info">Malta property for
sale</a> information is available at maltaproperty.info

Visit http://www.yourmalta.com for more information about Malta.

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