The Estate Agents section within the Malta Developers Association (MDA) notes the government’s renewed commitment and tangible measures towards the property and real estate industry which are crucial during the current difficult moment created by the pandemic.
During the budget announcements, the government took on board various studied proposals put forward by the MDA and its sections. These include an extension and fine tuning of the First Time Buyers Scheme, the continuation of last June’s initiative lowering taxes for both buyers and sellers in the real estate market and the commitment to keep helping real estate agents through the wage supplement.
Douglas Salt, President of the MDA’s Estate Agents section said that it is vital that in the current difficult economic scenario, the government accepted its suggestions to keep lending a helping hand so that thousands of families depending on the industry keep afloat.
“While acknowledging that this is not the best time for our industry, as it is for the rest of the economy, the government’s renewed commitment to help us pass through this difficult time fills us with encouragement that we will be able to come out of this pandemic even stronger,” Mr Salt said.
He said that the important MDA proposals taken up by the government, including the increase in the threshold for First Time Buyers from €175,000 to €200,000, and less stamp duty and other taxes for sellers and buyers, fit perfectly in the MDA’s strategy to help property agents work harder to contribute towards a rapid economic recovery.
MDA’s Director General Marthese Portelli said that it was very encouraging that the government is taking note of the MDA’s continuous propositions, transforming them into tangible schemes for the benefit of all involved including developers, sellers, and buyers. This shall also translate into a more affordable and sustainable property market, she insisted.
