Malta, Gozo & About

Property markets the world over are seeing sharp price declines and a real lack of serious buyers as the recession hits home.

But it seems some areas of Europe are doing better than others at attracting new buyers and maintaining current property prices, while other locations have seen much sharper drops in their real estate prices.

Malta is a good example of somewhere that has seen sharp prices in recent years, helped by a buoyant domestic market complemented with buyers from overseas looking for second homes and to move to Malta on a permanent basis, which normally entails buying a Malta property. Overall Malta property might have dropped under three per cent in 2008 if recently released bank statistics are to be believed.

And Malta is a classic example of an island that could see property prices fall through the floor as the domestic market quietens down and international buyers from her main tourist market – the UK – stop buying altogether.

But at less than a three per cent drop, the Malta property market has so far avoided the big falls witnessed by some areas of Europe, despite her main market of the UK hiting recession and the value of the British pound dropping in value against the Euro – and it has avoided the price drop by diversifying, and seeing other nationalities move into the void left by the British buyers, notably from Norway and other Scanadanavian countries.

Whether Malta can withstand the pressures of the global economy taking a downturn remains to be seen, but 2009 does depend still largely on the UK economy, which at the moment isn’t looking too promising.

                                                                       Malta Map

The hope of more buyers coming from countries like Norway is high, with some estimates suggesting that Norwegians could buy some 35,000 European properties between them next year, taking up some of the slack from a drop in the number of British and Irish property buyers – how many of those 35,000 buyers would be for Malta isn’t easily answered, and some estate agents fear it will not match the British and Irish demand of recent years.

Looking at a map of Malta, many buyers, whether from the UK,Ireland, Norway or elsewhere tend to head to the north of the island, to areas such as Mellieha and St Paul’s Bay, and with new properties going up over the last couple of years there could be some bargains from real estate developers hoping to improve their cash flow during the 2009 downturn.

And it’s not just the property market in Malta that is hoping for a good 2009. The holidays industry has seen a good revival over the last three years, with the number of holidays in Malta being sold increasing each year, and cruise ship passenger number arrivals hitting record numbers too – over 500,000 for 2008.

The Malta holidays market reversed a steady decline in her fortunes three years ago when low cost airlines started flying to Malta’s Luqa Airport. One major holiday company had even considered dropping Malta altogether as a holiday destination for British tourists, but the low cost flights to Malta has seen the Malta holiday industry revitalised. Without the low cost airlines moving in Malta would almost certainly be a niche tourist market now.

But there could be something that will hit both the holidays and real estate markets in 2009 which the island has no control over – the strength of the Euro – which the island now uses – and the British Pound. In spite of the property and holiday markets diversifying and attracting new markets the British market is still by far Malta’s biggest. The Pound has dropped sharply against the Euro, and British tourists might be tempted to try holiday destinations such as Turkey which is outside the Eurozone in 2009 as it will offer good value for money.

There’s a lot of factors which will determine if 2009 is good for Malta, the island will be hoping the dice roll favourably!

Article Source: http://www.articlesbase.com/real-estate-articles/new-markets-help-malta-property-684924.html

About the Author

For a range of properties for sale in Malta visit http://www.maltaproperty.info

Malta is one of the exotic destinations in the world. Lavishing natural beauty, enriched culture, and ancient monuments and so on, Malta makes the perfect home where one can find calmness and enjoyments all together. People in large numbers from all round the corner visit/trip to Malta throughout the year, after all no one wants to miss out the living paradise on the earth!

About Malta

Malta is located in the core of Mediterranean that is pretty closer to yet another beautiful city Sicily! Malta is group of small islands interconnected with water routes. The two main islands Malta and Gozo are the liveliest places here. Malta is one of the ancient cities that has witness several cultures like Romans, Egyptians, Arabs, British, the present Malta has perfectly blended all the cultures to have unique Malta lifestyles.

Things to Do at Malta

Whether you are an adventure lover or an artist, Malta offers something for everyone!

Learning: Ancient monuments, museums, galleries, paintings, scriptures and much more are the perfect do’s for the people who want to learn while tour. The rich history of the place can still be felt in the ruins of the place!

Adventures: The sea beaches of Malta are great! Beaches are very glazy and neat. You can play beach games, swim, snorkel, and play many more water sports. Or, try out a yacht tour in the Mediterranean or if you are speed lover then do have an experience of motor boat or wave runner in the Mediterranean.

Music and Food: Malta has a world-class and great variety taste for cuisine and music. You must try out the delicious foods and beverages of the Malta. Also, if you did not danced on the tunes of Malta music, then your tour is pretty incomplete. Do not miss out a musical bonfire with a tasty drink that is exclusively at Malta.

Shopping: Whenever you tour to Malta, it’s for sure that you will be come back bare hands! At Malta, you get loads of artistic products like sculptures, toys, memento’s and much more. Try out the local dress and accessories. If you are shopping lover and want to collect away some memory with yourself then must explore every nook and corner of Malta streets!

Malta tourism: Now everything is at Wallet Friendly!

With the support of local authorities and blooming tourism at the place, Malta excursions are pretty affordable now. Several flights, yacht charters and accommodation packages options have made things simpler for people! Therefore, if you want to make your tour to Malta longer and pleasurable, all you need to choose from one of the offered tour packages suiting to your needs.

Thinking which offer or package can make your Malta tour better? Do not think but try out maltatravelnet.com, the best guide to Malta tours providing the best info for malta accommodation, trips to Malta and lots more! Make your tour a moment that lives in your mind forever.

Article Source: http://www.articlesbase.com/destinations-articles/an-ultimate-malta-guide-557894.html

About the Author

Thinking which offer or package can make your Malta tour better? Do not think but try out maltatravelnet.com, the best guide to Malta tours providing the best info for malta accommodation, trips to Malta and lots more! Make your tour a moment that lives in your mind forever.