Malta’s Market BattleWith new destinations such as Bulgaria, Slovenia and Croatia offering two and three bedroom apartments for sale for £50,000, there was concern last year among some Malta estate agents that 2005 could see a drop in number of UK and Irish buyers choosing to buy a holiday home on island.
With good all year round temperatures enticing many buyers for winter months as well as summer, driving on left and a warm welcome from local population who nearly all speak English, Malta has been popular for some years among overseas property buyers.
‘A home from home in Med is often comment we hear from overseas property buyers’ comments Michael Johnson of Malta property specialists Tribune Properties.
‘With countries such as Bulgaria, Croatia and Slovenia opening up their property markets to overseas buyers there is a chance that Maltese property market could see a decline in sales this year.
But it hasn’t happened in first quarter of 2005 at least. Malta has an appeal that never really attracted bargain hunters in past who tended to look more at rural France and Spain where low cost airlines fly to, and it is these buyers who are now considering new markets rather than buyers we see in Malta’.