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Coronation Street tipped to increase property sales in Malta

8th August 2007 Print
As Coronation Street moves back to Weatherfield after a week of broadcasting from the sunny island of Malta, property website is predicting a surge of interest in this beautiful sun-soaked island in the middle of the Mediterranean.

Coronation Street is the world's longest running soap. It was first broadcast in the 1960’s. With viewing figures in the UK regularly exceeding ten million viewers an episode, exposure on Coronation Street is sure to highlight the desirability of the island to viewers considering either a holiday or a property purchase.

The episodes which have just been broadcast featured a short trip to the island for two of the soap opera’s leading characters Eileen Grimshaw and Steve McDonald and viewers have been captivated by the sun-soaked honey-coloured buildings, the charming historic streets and churches and beautiful landscapes not to mention the glorious red sand beach of Ramla Bay. It was hard not to be envious as Eileen and Steve sipped cocktails next to the pool in the gleaming sunshine and this life-style was all the more alluring when the camera’s panned back to the dreary streets of Weatherfield.

Wide Audience

In addition to reaching Malta's prime UK market, additional benefit for Malta could come from Canada, Australia and even the Bahamas, where the show is broadcast some weeks after the UK.

Carly Barnes, Managing Director of LLB International, a UK-based firm that helps clients purchase their “dream properties in Malta”, states: “The episodes set in Malta will reach a cross-section of viewers over a sustained period of time in many different countries. This exposure is worth millions in indirect advertising to the island and UK property companies such as LLB International. Many Canadians have, for example, never heard or seen footage of Malta. But, after watching Coronation Street, they will now have an appreciation for the beautiful scenery, beaches and landscapes which were shown on ITV last week in the UK. We are already seeing an increase in interest since the broadcasts began last week and we are looking forward to hearing from international buyers once the programme airs overseas in the next few weeks”, she continued.

Carly, who is also markets real estate throughout the world via adds that Malta is currently their most popular country even outstripping Bulgaria and Spain. ‘It is something of an undiscovered investors paradise, Carly adds, as well as popular with repeat guests who return year after year and eventually buy their own slice of Paradise”

An affordable choice

Malta is selected as an affordable quick getaway during the Coronation Street episodes screened last week which may in part be due to the introduction of budget airlines to the island last year. Ryan Air now count Malta amongst one of its most successful routes and Malta's own airline, Air Malta, has been offering cheap Malta flights and new routes from Liverpool to Malta. New visitors are also expected to arrive from Spain and Germany, following agreements with budget airlines to provide cheap Malta flights outside of Malta's traditional British market.

Increased Tourism and International Events

It is no coincidence that the introduction of budget airlines and increased media exposure is increasing tourism to the island.

Certainly, tourism is on the increase in Malta. Recent data released by the Maltese National Statistics Office – NSO- states that the situation was not only better in the first six months of this year when compared to the same period last year but an increase was registered when compared to the same period in the last six years.

‘What is even more remarkable, Carly comments, is that the last six months of the season generally result in a decrease in the number of visitors so the recent statistics were incredibly exciting for anybody with an interest in the island. Credit must be due to the Maltese Government and the Malta Tourism Authority for their efforts recently to increase the attractiveness of the country to foreigners.’

Certainly high-level sports events such as the F1 power boat race are attracting increased visitor numbers and international exposure to the island of Malta. These events are also starting to make full use of its glorious sunny year-round climate to boast outdoor events throughout the year which makes Malta a top choice for international artists. Recently stars such as Jose Carrerars, Bryan Adams and Andrea Boccelli have provided magnificent performances in this majestical and historical island.

But perhaps after Coronation Street, the largest exposure to the islands was brought via the recent MTV concert with stars such as Enrique Inglesias, Maroon 5 and others. Remarkably this concert was free to anybody lucky enough to be on the island at the time.

And did you know that Malta was also the setting for Hollywood blockbusters?

‘Malta is known as the Hollywood of the Mediterranean’, Carly comments. ‘It apparently makes more films per head than Los Angeles and has welcomed Brad Pit during the filming of Troy, Steven Spielberg filmed Munich here and Malta was also the setting of Gladiator-not bad for a tiny island in the middle of the Mediterranean!”

And how does this relate to property prices?

‘The increasing popularity of Malta means that demand for good quality rental property will show no sign of slowing down.’ Carly comments. ‘This is turn is expected to bolster property prices which continue to rise in value’.

‘Malta is also set to join the Euro in 2008 so the market is incredibly hot right now. Buyers have seen what happened after Ireland joined the Euro and are keen to purchase now before the Euro comes in’ comments Carly.perty bought in Tuscany could

So, why not hop on a plane like Eileen and Steve and sample the delights of this beautiful sunny island. With prices starting from just below £64,000 both property investors and holiday makers alike are rushing to buy whilst prices are still affordable.

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