Property investments in Malta in February hit record-high, bolstering economy in the midst of uncertainty

The Malta Developers Association (MDA) reviews the latest data on property sales registered in February. The figures confirm that a total of 1,600 promises of sales, valued at over €350 million were recorded last month, the Malta Developers Association said.

The rough data suggests that February 2021 was the best February since 2017. This is as regards the volume and value of promises of sales registered by the authorities.

“These figures once again confirm the property market’s significant direct contribution into the maltese coffers during these times of economic uncertainty spurred by the consequences of the global pandemic,” the association said.

When analyzed comparatively with February 2020, February 2021 reflected a 40% rise, a difference worth over €100 million in value.

“In unprecedented times like these, it is vital to ensure that sectors like the property market, that have proved their resilience month on month, are allowed to continue growing, as their success helps in directly sustaining those sectors and the employees that have been negatively hit by the pandemic, such as the tourism industry. The MDA is committed to continue ensuring that the industry will continue to respond with more investment and increased enthusiasm to create more confidence and possibly more rapid growth in the economy in a sustainable way.”