Better performance than 2019 – MDA
Malta’s property industry last year managed to pump into Malta’s economy more than €3 billion in property sales, leaving into public coffers hundreds of millions in taxes, despite the unprecedented global pandemic.
Noting the results of property sales in 2020, the Malta Developers Association (MDA) expressed its satisfaction that timely measures, introduced by the government during the pandemic following MDA proposals, have not only delivered the desired results but even surpassed expectations.
Preliminary MDA data shows that between January and December 2020, the Maltese property market registered a total of 13,867 promises of sale, with a sales turnover of more than €3 billion.
The 2020 results also showed that, despite the pandemic, the construction industry not only managed to keep going but to even register better results that the preceding year.
While in 2019, a total of 13,243 promises of sale were registered, these increased by 624, in 2020 reaching a total of 13,867. The value of the sales produced in 2019 and 2020 was similar, surpassing the €3 billion mark for each year.
The data also shows that December 2020 was the best December since 2017, resulting in 1390 promises of sale. During the last month of the pandemic year, the value of sales reached €382 million.
Welcoming the positive results, the MDA’s Director General Marthese Portelli said that in 2021, the MDA will remain focused on this success while continuing to adopt policies and put forward concrete proposals to have a thriving, sustainable and greener industry.