Close to southern Italy and North Africa, yet boasting a sophisticated European property scene that is a magnet for top designers and architects, Malta scored highly in the recent International Living Quality of Life Index, with freedom and security, climate and the environment all being awarded between 85 and 100 percent. Though restrictions are placed on how many properties foreigners can buy on Malta, there are opportunities to buy, and rent out, multiple properties in special investment areas – Specially Designated Areas (SDAs). Tight regulations govern the conditions of purchase and rentals in residential areas outside the SDAs.

Mark Bodega, Director at HiFX.com, the UK’s leading independent online foreign currency exchange brokers, explains why he thinks there is still reason to exercise caution. He said: “It was apartments that led the house price crash. Malta’s EU explosive housing boom in 2003 to 2004 saw tremendous house price increases and sharp rises in construction activity, but with waning demand and oversupply, the housing boom is now officially over.”

However, with such a small landmass, the future for house prices looks promising. Even if the pace of capital appreciation has slowed, developers cannot simply keep retreating further inland as they have done in Spain.

Located 30 kilometres north of Alicante on the Costa Blanca, the town of Villajoyosa lies at the mouth of the River Sella. Colourful, vibrant and decidedly Spanish, Villajoyosa (literally ‘joyful town’) is situated just south of Benidorm and is sandwiched between the mountains and the sea.

A bustling fishing port, the distinctive, brightly painted facades of the town’s houses were designed to guide the fishermen home from sea. Steeped in history, this is one of the few towns on the Costa Blanca that remains undiscovered, and property here is some of the most competitively priced in southern Spain.

Why Villajoyosa?

Villajoyosa has a colourful history, with the Romans building the first settlement here, but today the feel is overtly Spanish. The town has retained many traditional features, such as its fish market, and there are a number of restaurants along the harbour that serve some of the best seafood in the region. The town is also known for its production of chocolate. The old town has been declared a historic site, and it’s here that you’ll find the multi-coloured houses, Villajoyosa’s gothic church and a number of Roman bridges.

As Turkey prepares itself for a record-breaking summer tourist season, with 25 million visitors expected by Turkish officials this year, the country’s property market looks set to attract a record number of British buyers. Indeed, a Nat West survey of British mortgage lenders has identified Turkey as the third most popular country to buy property in the next three years.

“There is growing interest in Turkish property due to its excellent value, with high-quality apartments from as little as £40,000,” explains Dominic Whiting, editor of the Buying in Turkey guide. “Huge investment is being channelled into the development of the coastal areas as part of the government’s plans for Turkey to become one of the world’s top five tourist destinations by 2023. On the ground, this means new airports, roads, golf courses, marinas and hotels- all of which have a very positive effect on the desirability of Turkish property and values.”

In addition to the million-plus British tourists that visit Turkey each year, the pleasant Mediterranean climate, relaxed way of life and low cost of living are attracting a growing number of permanent British residents and retirees.