Malta has recently recorded the strongest growth in real estate property prices from EU countries, and the latest news regarding the Malta real estate could help find inflation double the price in the next coming years.
Statistics released by the European Mortgage Federation show Malta's growth by more than 18 percent was higher than in France and Spain.
Two EU countries, Germany and Austria, saw housing prices fall, while Portugal, Greece and the Netherlands did not have a good location.
And real estate developers on the island predict that strong growth may exist for a few years now, giving Malta the potential to be seen by investors as a good place to shop.
Tribune Properties, which specializes in real estate in Malta, reports that the first quarter of 2006 saw good performance, and the high end of the market saw particularly good performance levels.
'The first few weeks of January were slower than the same period last year, notes Michael Johnson, Executive Director of the Tribune, 'but since then the sale price has been the same as last year - very good - but living quarters with the required value.
Malta Hotels and Holidays
Malta's independent holiday and hotel information website of your Malta also reported an increase in interest on their site pages compared to the first quarter of 2005, with page views increasing by almost a third.
Continued inflation at the levels seen in Malta is rarely seen in other countries, but new economic activity on the island could see demand for commodities at positive levels for some years to come.
A new 'Smart City' has been set up that could see Malta compete with the rest of Europe as an online business destination with other high-tech companies. English is spoken fluently in Malta, and is associated with lower wages compared to the region where it is hoped that domestic investment and 5000 new jobs will help the Maltese economy to develop real estate, hotels and holiday markets.
The tourism industry is vital to Malta's economy, and it is hoped that the arrival of affordable flights to Malta will benefit the Malta holiday industry and many Malta hotels.
If Malta combines the attractions of a Mediterranean holiday island with modern infrastructure and a high-tech business in a low-tax area, modern local prices may look like a profit in five years.
The introduction of low-cost flights to Malta from the UK will open up opportunities for more buyers to look at the island for long weekend vacations, and the Malta hotel industry could reap the benefits of a 3- and 4-day visitor to surf through the island as a place to visit.
Malta has already seen most of its visitors from the UK, but this may change into a very diverse mix in the years to come.
Last year saw a record number of visitors from Italy, and additional inquiries were received from estate agents throughout the island from Scandinavia, Holland, France and Belgium, helping to increase the demand for Maltese facilities.
After years of wondering how Malta could get into today's world, real estate agents, hotel owners, and the Maltese holiday industry are beginning to look to the future with some optimism.
You must be logged in to post a comment.