Malta pointing upward

Malta could be the answer for property investors wary of buying in many parts of Europe where prices are predicted to stay on a downward spiral.

With tourism up 20% in recent months, a flood of inward investment and sustainable domestic demand for property, this small island in the Mediterranean is a good location for anyone looking for safe sustainable returns.

As the property market in the UK reaches an all time low for 30 years, investors are increasingly looking abroad. 'It is true that the Sterling has, certainly for the time being, fallen against the Euro, effectively pushing up the price that has to be paid for Sterling buyers but despite this Malta is a good deal,' said Ray Woods of Malta specialists 'maltabuyproperty'.

'We have helped a number of clients to buy properties in recent weeks utilising finance raised on Malta with the minimum of formality. And the outlook for property investment in Malta remains positive - with land in diminishing supply and both domestic and foreign demand growing.

'This is no Spanish bubble waiting to burst and property laws provide good protection for both buyers and sellers,' he added.

He predicts that any reduction currently in the value of Sterling against the Euro is likely to be outweighed within a year or so by increases in the value of the property investment.

Canny buyers will find that, haggling is part of the buying process in Malta and there are plenty of good deals around for buyers who know what they want and can act decisively.

Brits interested in relocation are finding that their money is likely to go a lot further in Malta than in the UK or some other countries despite the strong performance of the Euro.

The cost of buying property is around 6 to 6.5% (compared with 10% in some other countries) There are no property taxes like the Council Tax - and Income Tax compares very favourably with the UK. Health and Education Services are of a high standard and crime is very low.

This week, temperatures in Malta reached 31c so the climate is an added bonus.

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