Over 1,600 promises of sale were registered in Malta in July, marking it as one of the best months for property in years.

Property sales totalled €330 million in July, even though Malta finds itself in the middle of the COVID-19 pandemic. The Malta Developers Association praised the high volume of sales, saying they come after the government implemented MDA proposals last June.

“These results are tangible proof that its proposals are helping the economic recovery,” they said, before continuing to say: “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.”

The MDA spoke out about a number of key issues that it believed were still present in the Maltese industry:

1. The need for continued vigilance against the further spread of the COVID-19 virus and by ensuring that timely and balanced measures are taken.

2. The importance of making 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.

3. The importance of creating the proper stimulus for all economic sectors based on initiatives with very low-risk health repercussions.

4. 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.

Did you expect Malta’s property market to experience such a healthy month? Let us know in the comments below