Property for Sale in Malta
As Euro adoption draws closer for the Mediterranean island of Malta, property agents are reporting a surge of interest in the island from prospective investors, some based as far afield as North America.
Malta has enchanted visitors for centuries. Homer's Ulysses could hardly tear himself away from Malta after seven years. It can boast an almost unbeatable combination of history, sunny coastlines, vibrant city life, tranquil countryside and -as if this is not enough -excellent investment potential as it moves on January 1, 2008 into the European currency union.
Low cost airlines are dramatically increasing the number of visitors to the island to the point where, as reported by the Malta Times on August 17, 2007 "Hotels: Everyone is Full!" This was the "best year in six for tourism, both in revenues and income".
Tourists who bought only a few years ago for lifestyle reasons are now delighting in their investment gains and solid rental returns. All of this is bound to increase demand for properties on the islands. The combination of relative affordability, a very good history of property gains, and rapidly increasing demand is almost unbeatable. Prices of Houses of Character and townhouses, which have always been popular with foreign investors, have increased by as much as 20%.
Properties in Malta still currently remain relatively affordable compared to other EU locations such as Spain and Portugal. This situation is not likely to hold for much longer however. Low-cost airlines are putting these island "hot spots" almost in Britain and Ireland's backyard.More...
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