| A recent travel industry survey has revealed that | | | | In recent years property in Malta has been a popular |
| Malta could be the third most expensive holiday | | | | investment for overseas buyers, with prices rising on |
| destination in 2007 among her direct competitors for | | | | a consistent basis. |
| British tourists - adding to the worries for the tourist | | | | The rises have been steeper in the last couple of |
| industry on the island who have already seen visitor | | | | years, with Malta joining the EU in 2004 attracting |
| numbers slip this year. | | | | more foreign buyers for properties on the island. |
| Britain remains Malta's largest market for the Malta | | | | But with less holiday makers the number of |
| holiday and hotel market, and the news that next | | | | properties being sold to overseas buyers could fall. |
| season's visitors are going to be paying more to visit | | | | 'Overseas property buyers don't often visit for a first |
| Malta than her main rivals of Spain, Portugal and | | | | time with that intention in mind', explain a UK |
| Greece has left the tourist industry worrying that | | | | company specialising in property for sale in Malta. |
| they will be in a permantly declining market. | | | | 'They normally visit first for a holiday, fall in love with |
| One local travel guide specialising in Malta describe the | | | | Malta, and return on a second or third visit with the |
| news as 'disappointing' and comment that a further | | | | intention of buying a holiday home, or to move to |
| decline in the number of visitors to the island could | | | | Malta permantly. Today's tourist could be tomorrow's |
| damage Malta's economy. | | | | property buyer - but if the number of tourists falls, |
| 'Unemployment is running at around 8 per cent in | | | | so do future property sales to overseas buyers'. |
| Malta this year, and if there is any significant decline in | | | | One benefit from declining sales to overseas |
| the number of tourists visiting the island next year | | | | investors could be a reduction in property prices for |
| this could rise to near double figures, especially in the | | | | the local market. Some of the islanders are finding it |
| off-peak seasons when there isn't so much | | | | difficult to get on the property ladder after repeated |
| temporay work being offered. Tourism is a huge | | | | price rises, but if unemployment does increase then |
| industry in Malta and the fall out of declining visitor | | | | there could eventually be an oversupply of property, |
| numbers will be hard to escape from whatever | | | | with prices dropping faster than anticipated. |
| industry you're in on the island'. | | | | One bright light in an otherwise gloomy outlook is |
| Earlier this year there were reports on the island that | | | | that the long awaited low cost carriers are now |
| a major tour operator in the UK was considering | | | | expected to start flying to Malta from UK |
| withdrawing Malta from their holiday brochures - the | | | | destinations later this year. |
| reports were later denied by the company involved. | | | | The introduction of the low cost flights to Malta could |
| 'When we spoke to tour operators they told us that | | | | boost tourist numbers by ten per cent overall, and it |
| there were no plans to withdraw Malta as a holiday | | | | is hoped in the Malta holiday and hotel industry that |
| destination', the guide say, 'And we can only hope | | | | this could be a move to a sustained growth in visitor |
| that this rings true for 2007 and beyond as well'. | | | | numbers, and not just a short term revival with an |
| Malta Property | | | | overall long term decline. |