I suppose you mean recrystallization rather than melting - obviously the molten (liquid) phase has very different properties! As for whether a recrystallized substance has different properties, that'd depend entirely on the substance, (and whether it has several phases, for instance), the original state and if the recrystallization conditions match the original crystallization conditions etc.
But recrystallization does not at all necessarily degrade the crystal. Often the contrary, which I'd almost have expected you to have known, with that username: The high-purity monocrystalline silicon used in solid-state applications is purified by repeatedly melting it! (Zone melting, which works through the fact that the impurities have a higher solubility in the liquid phase)