MAY 2012 |www.opp.org.uk


to the strength of the Euro against the Sterling, sales have succumbed, thus this fall in percentage.” However, Bonnici says, this has allowed a more diverse clientele opportunity to enter Malta. “Today, this market has been replaced by South African, Chinese, Italian, German and Swiss,” he says.


Indeed, Bonnici is confi dent enough to say his company has plans to look at even more diverse range of markets in the coming year. “Our strategy this year includes exhibitions / networking in Russia, South Africa, Scandinavia and China,” he explains. “We believe that is where the money is nowadays and there are already tell-tale signs of interest from these foreign shores.”


Property


Expanding in the Maltese market, however, is of course limited by its size. It is the eighth most densely populated state in the world, with an incredible 1,322 people per kilometre squared. As Bilocca says, “the only way is up”.


MALTA Developer profi le


“There is still space to build but the government is concerned with overbuilding,” he adds. “They want things to be built and blend in with the island’s heritage.”


“Of course, some the building has slowed down with this and with the economy,” adds Alosio.


In terms of prices, Bilocca adds, buyers could expect sea-view apartments in the town of Mellieha to fetch roughly £150,000, while in St Julian prices could hit £200,000 for a similar property. Meanwhile, “houses of character” – reconverted farmhouses, say in the more rural areas of the island, can cost around £180,000 upwards, Bilocca says. For Vassallo, “anything on the seafront, particularly the new mixed- use developments on the north-eastern coast and the harbour area is always in demand” from overseas. Additionally “the towns of Sliema and St Julian’s, the stunning baroque capital Valletta, the more sedate and traditional central villages like Lija, Balzan and Attard,


areas like Madliena, Wardija, and Mellieha for larger villas and, of course, Malta’s captivating sister island, Gozo,” also attract interest. Malta’s ability to compete at a budget and high-end level is its big plus, adds Vassallo.


“I would say that Malta today appeals to both the entry level ‘holiday home in the sun’ seeker as well as the more discerning luxury lifestyle buyer and though the island, at 315square km, is small,” he says, “there are still areas which have always proved popular to both market segments.” “Prices vary according to buyer


requirements of course and the market generally caterers for all budgets and expectations – over the last decade or so the quality of newer developments has improved considerably and many today hold their own against some of the better known overseas lifestyle developments.” Malta is also not struggling as much as its European counterparts, adds Vassallo. “Malta has been affected by the international economic scenario


REPORT | 47


SDAs in Malta


Portomaso Development, St. Julians, Malta Portomaso Extension I, St Julians, Malta Cottonera Development, Cottonera, Malta Tigne Point, Tigne, Malta Tas-Sellum Residence, Mellieha, Malta Madliena Village Complex, Malta SmartCity, Malta Fort Cambridge Zone, Tignè, Malta Ta’ Monita Residence, Marsascala, Malta Pender Place, St. Julians, Malta Metropolis Plaza, Gzira, Malta Fort Chambray, Ghajnsielem, Gozo Kempinski Residences, San Lawrenz, Gozo


Jan United


Kingdom Italy


Germany


Other Europe EU


Other Europe Non EU


Libya


Other Africa Mid East Asia


America 55,697


39,052 20,936


34,137 5,320


5,722 1,933 6,876


Feb


Monthly total passengers visiting Malta by main country/region Mar


Apr 57,193


35,535 22,641


36,492 5,945


5,930 1,276 6,745 3,120


73,735


49,713 32,354


53,878 9,412 753 2,171


13,625 4,806


1,333 11,508


1,643 9,805


2,012 10,496 2,994 12,117 1,800 11,938 2.679 10.081 2,018 11,992 92,970


53,108 41,244


88,247 11,713 May Jun Jul Aug Sept Oct 102,873 107,543 116,591 121,314 118.275 111,499


51,471 51,937


94,253 13,071


56,303 53,384


96,458 19,689


69,333 58,615


77,470 58,490


63.197 55.957


129,319 131,474 111.667 26,811 25,089 20.669


49,998 62,590


89,616 18,839 Nov 69,908


36,285 36,847


43,036 6,703 456


1,782 9,486


Dec 58,525


35,201 25,711


33,969 5,370


3,823 1,575 9,354


Total 2011


Total 2010


1,086,123 1,032,721


616,666 520,706


942,546 168,631


16,684 23,216


124,023 7,926


641,811 422,498


872,183 159,504


59,651 22,904 81,144 1,066 153


Total (Scheduled & non Scheduled) 169,673 174,877 240,447 300,123 325,053 345,885 415,780 427,575 382.525 346,552 204,503 173,528 3,506,521 3,293,635


Transit (counted only departure)


Total International


General Aviation


Grand Total 849 827 257 178 50 55 165 39 255 445 373 199 3,692 10,642 170,522 175,704 240,704 300,301 325,103 345,940 415,945 427,575 382.780 346,997 204,876 173,727 3,510,213 3,304,277 165 757 630 252 659 846 1,041 757 1.288 1,452 904 375 9,126 3,434 170,687 176,461 241,334 300,553 325,762 346,786 416,986 428,371 384.068 348,449 205,780 174,102 3,519,339 3,307,711 Source: Tourism Malta


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