Positive 2020 trend continues with another 27% increase.
The positive trend registered by the local property market during the pandemic year continued even in 2021 as, according to preliminary results, the first month of the new year marked another record in property sales.
Data shows that during January 2021, a total of 1157 promises of sale have been registered with the authorities, with a total value of €274 million.
While this is one of the best results registered for January since data started being collected, it also shows an increase of 174 promises of sale and €59 million over January 2019.
The new high in property turnover followed impressive results posted in 2020, in which despite the unprecedented circumstances caused by the pandemic, the industry still managed to post a turnover of €3 billion, the same as in 2019.
Noting the latest results, the Malta Developers Association (MDA) said that once again local property has retained its investment value and it also shows that people are opting to invest in better quality.
“Through hard work and the right incentives, 2021 could also be another positive year for the industry. The MDA calls on government to extend again its proposals of lower transfer and stamp duties an incentive which attracted and benefit both the buyer and the seller,” Director General Marthese Portelli said.
“Whilst remaining focused on this success, the MDA is also working on tangible concrete proposals addressing the long needed forward planning and better green infrastructure to ensure better quality, sustainability and better liveability.”, the MDA’s DG added.