Malta Developers Association (MDA) President Sandro Chetcuti, in his capacity as Chairman of the PropertyMalta Foundation, appealed to those attended the National Conference – Analysis of the Property and Construction Industry, last Thursday to come forward with ideas on how to improve the Malta property product.
“We can learn by combining our knowhow and work more professionally,” he said. Apart from taking part in its first international property fair in Cannes, France, last month, the PropertyMalta Foundation intends to launch an on-line campaign to reach different audiences.
“Property in Malta is of interest to everyone,” Mr Chetcuti affirmed. The PropertyMalta Foundation, a joint venture between the Government and the MDA, intends to update the KPMG study on the construction industry and property market “so that, with more information, we can build a realistic property price index based on facts”.
This will enable not just those who are highly knowledgeable in property to invest but also others who are not familiar with the country and those working in other areas.
The conference was opened with a keynote address by Transport, Infrastructure and Capital Projects Minister Ian Borg and brought to a close by Finance Minister Prof. Edward Scicluna. KPMG Partner Mark Bamber gave a presentation on the Construction Industry and the Property Market Report and Senior Economist Owen Grech from the Central Bank of Malta gave his views and analysis of the property market, prices, affordability and alignment with the real economy.
Mr Chetcuti and Mr Bamber then joined a panel discussion on: Demand, supply and everything in between – price inflation, the issue of vacant properties and housing affordability. Other panel members were economist Gordon Cordina, Prof. Alex Torpiano, Dean, Faculty for the Built Environment at the University of Malta, Perit Charles Buhagiar, Executive Chairman of the Building Industry Consultative Council (BICC), and Chief Credit Business Development Officer at Bank of Valletta plc Albert Frendo.
3 December 2017