STILL MONEY TO BE MED

Cash in on Mediterranean
hotspots

2006-12-10

IT'S easy to think that every bit of the
Mediterranean has already been
explored and that you'll struggle to find
a bargain if you are looking for a holiday
place in the sun.
Well, think again. Low-cost airlines
have opened up new parts of the Med
that used to be difficult and expensive to
reach... as well as miles of unspoilt
coastline just ripe for development.
Here ALACOQUE MEEHAN gives an insider's
guide to where canny investors looking for
a holiday home should be looking next...

Malta & Gozo

MALTA and little Gozo have always been popular with British holidaymakers and it's cheaper to get there now that low-cost airlines have broken Air Malta's monopoly.

Buying a property was also a bit of a nightmare until two years ago when Malta became a full member of the European Union.

Some restrictions still apply, such as buying more than one property in certain areas, but the buying process has been brought more into line with EU regulations.

And in 2008 Malta will start phasing in the euro, although the local currency, the lira, will remain in existence for a further 10 years.

The property market is very buoyant with prices rising by between 17 and 20 per cent in the last two years.

WHAT TO BUY

IF you are looking for luxury, you'll love the five-star Kempinski development in Gozo, Malta. It's situated on the outskirts of the village of San Lawrenz and is attached to the award-winning Kempinski Hotel and Spa.

Apartments will have luxurious extras like hydro massage baths as well as access to the hotel's concierge service. You will also have full use of two swimming pools, a gym, and tennis and squash courts. One-bedroom apartments start at around �141,000 while a threepenthouse cost �1,126,000.

There is an unusual development on the site of the former L'Andar Hotel on the outskirts of the town of Xlendi on Gozo.Prices start at just �62,500 for a two bedroom apartment with sea views and the development is due to be completed by mid-2008.

The developers are looking for a 20 per cent deposit on agreement of purchase with the final payment of 80 per cent on completion. And even if prices slow down, they are still expected to rise by at least eight per cent a year.

To request current property for sale in Malta visit www.maltaproperty.info

HSBC offer Buy To Let Mortgages

2006-05-15

HSBC's new Buy To Let product HSBC claims offers two specific advantages.

Firstly, the product is not considered as a commercial loan and therefore lower interest rates apply. Secondly, the income from the letting of the property is considered as part of the customer's income, making Buy To Let more accessible.

With Buy To Let HSBC is addressing the needs of a specific group of customers. It allows individuals the opportunity to buy or borrow against a Malta Property for the purposes of letting.

"Because of its specific nature, Buy To Let does not fit in to the commercial loan bracket and loan repayments may be spread over a maximum term of 25 years. HSBC's Buy To Let is a new, excellent and affordable opportunity for people looking to enter the letting market or with properties to let," states HSBC's chief executive officer, Shaun Wallis.

90,000 ITALIANS HOLIDAY IN MALTA DURING 2005

2006-01-22

(AGI) - Rome, Italy, January - Italians continue to show a marked propensity towards holidaying and carrying out business in Malta. January to November 2005 some 90 thousand Italians travelled to Malta, scoring a sound fourth with regards to tourist quotas (6 pc), behind British, German and French tourists. The figures were reported by Italian Chamber of Commerce offices in Malta based on official Maltese statistics.

"Italian tourists fell 9 pc year-on-year, compared to a 2.2 pc global tourist influx increase". "Favourite destinations continue to feature St Julians and St. Paul's Bay, placing leisure top of the tourists' agenda. Italians typically spend the duration of their stay in top hotel resorts (4 or 5 star); compared to 2004 a larger percentage chose to spend time in acquired property". Italians also like Malta for business: one third of the 3,600 Italians who travelled to Malta in November did so for business reasons".

For a guide to the island, including hotels in Malta, holidays, self catering holiday villas and apartments, flights, the weather, car hire and details of Malta's main towns of Valletta, St Julian's, Sliema, Mellieha, St Paul's Bay, Qawra and Bugibba visit www.yourmalta.com

MAGIC MALTA (Sunday Mirror)

2005-06-26

MIGHTY stone forts with towers and battlements provide plenty of inspiration for sandcastles when you take the kids for a family holiday on Malta.

The island and its little sisters Gozo and Comino make up one of the most child-friendly destinations in the Med.

For a start, the country is only a three-hour flight from Britain. Then there are the no-tears transfers, with most family resorts within a half hour or so from the airport.

English is spoken everywhere, chips are on the menu and there are plenty of safe, sandy beaches for the bucket-and-spade brigade.

And with water temperatures staying at 20C even in late November - and 23C-plus in summer - kids can run in and out of the sea all day without turning blue.

The largest sandy beaches tend to be in the north, in family resorts such as St Paul's Bay, Bugibba and Qawra.

The beaches at Mellieha, Ghajn Tuffieha and Golden Bay are also a good bet for young families.

The beaches on Gozo, half an hour's ferry ride from the main island, tend to be rockier - small, pristine coves where the sea is as clear as spring water.

This is the place for skimming stones, racing crabs and fishing for tiddlers in the rockpools.

If the kids want to build sandcastles on Gozo, your best bet is Ramla I-Hamra where red sand adds a touch of colour to their creations.

YOU might have your work cut out dragging the kids away from the beach initially but they'll soon come round to your way of thinking.

Play king of the castle when you take them to Valetta, Malta's historic capital built around one of the most dramatic harbours in Europe.

Drop a coin into one of the telescopes on the St Elmo clifftop to bring into focus the mighty white limestone walls of the citadel, the mediaeval stronghold of knights in clunking armour.

Before exploring Valetta, it's worthwhile taking an hour out to watch the Malta Experience, a sound and light show tracing the island's turbulent history - from the Stone Age through to Malta's bombardment during the Second World War (www.the maltaexperience.com).

Most of Valetta was built in the Middle Ages when the powerful Knights of St John commissioned Europe's biggest names in architecture to build ornate palaces, a cathedral and state-of-the-art hospital.

The best way to get around the old town and the island's other ancient city, Mdina, is on foot, strolling through whitewashed lanes that are surprisingly cool even on a summer afternoon.

Don't miss a visit to Ggantija, one of the oldest freestanding monuments in the world dating back to 3600BC (entry about �2). Across the water from Malta at Gozo, the stones are every bit as impressive as Stonehenge - and a good deal older.

The Maltese used to believe that as the stones that made the temple are so big giants must have built them.

KIDS addicted to swashbuckling movies like Gladiator and Troy will instantly recognise many of the scenes filmed on Malta and Gozo. More than 70 blockbuster movies have been shot on these islands where old stone fortifications make a believable ancient Greece or Rome. Sandy Bay was the setting for Brad Pitt's Troy. And nearby Anchor Bay is home to the Popeye village called Sweethaven, where Robin Williams starred in the film version of the cartoon.

A fun park has been built around the original set and entry costs about �5.10 for adults, �2.30 kids.

STRAP on a pair of fins to take teenagers scuba diving off Gozo.

The island has become one of the most popular dive destinations in Europe thanks to its unpolluted beaches, fairytale caverns and arches.

If they're old enough to have a scuba diving certificate (recommended from 14 upwards for international dive organisations such as the British Sub-Aqua Club) then book them on to a guided dive at Blue Hole.

In a 30-minute dive straight off the shore they might spot tiny seahorses hiding in clumps of seaweed or come face to face with a large grouper. And are those rock formations the Lost City of Atlantis?

STOP for ice-creams (and a well-deserved beer for Dad) at one of the dozens of small cafes and restaurants tucked away in the backstreets or shady courtyards of Valetta and Mdina.

Kids will love the local sweet speciality called kannoli cakes - tubes of pastry stuffed with ricotta, apricots and chocolate.

If your hotel has a children's club, park them for lunch and treat yourselves to a meal without chips in Valetta. Try Malta's favourite dish, a fish soup with garlic, tomatoes and rice called aljotta. It's on the menu just about everywhere.

Or find a table in Valetta's most famous restaurant, Rubino along Old Bakery Street. It's an old stone cellar serving traditional Maltese dishes such as lamb shanks and rabbit.

For desert, go for the wicked cassatella, a ricotta cheese-based cake with glace fruit and marzipan.

Malta has yet to adopt the euro so prices are still in Maltese lire. Expect to pay about �8 for a two- or three-course lunch and from about �2 for a bottle of very drinkable white plonk. Children's meals - served by tolerant waiters - average around �3.