MDA proposals bear fruit as property sales hit record in July – Vigilance against Covid-19 crucial

Following proposals put forward by the Malta Developers Association to government last June, tangible results are already being felt within the industry.

According to data held by the MDA, July was the best month in the past years where it comes to the number of promises of sales made on property.

Preliminary data shows that more than 1,600 promises of sale were registered last month, with a total value exceeding €330 million. This puts July 2020 as one of the best months since 2017.

Welcoming the positive results, the MDA said that while these results are tangible proof that its proposals are helping the economic recovery, the MDA cautions on:

• the need of continued vigilance against the further spread of the Covid-19 virus and by ensuring that timely and balanced measures are taken;
• the importance of taking well-informed decisions and this can only happen if government works closer to and listens to all stakeholders and also to the concerns of the general public;
• the importance of creating the proper stimulus for all economic sectors based on initiatives with very low risk health repercussions;
• the importance of continuous monitoring and spread analysis of the Covid-19.

MDA insists that health safeguards should remain the paramount concern and economic recovery should be built around this new reality.  The MDA is very worried about the way the second wave is being handled and calls for better co-ordinated efforts by government and increased efforts by everyone to make sure that the country emerges stronger from this challenge.