MDA welcomes political commitment to property market

The Malta Developers Association has welcomed the attention being given to the property market in the electoral campaign.

In a statement, the MDA expressed satisfaction that the Labour Party made proposals in favour of the Permanent Residents Scheme, tax on rental income from residences through a withholding tax and the renewal of MEPA permits that have already been issued.

"It is not only developers who are going to benefit from these proposals but many property owners in Malta and Gozo," the association said.

"These are all issues on which the MDA has been lobbying for a long time in public, as well as through requests in writing that have been made both to the Government and to the Opposition."

The MDA said it expected the Nationalist Party electoral manifesto to give due importance to the property market.

The MDA insisted with the two parties that the property market is one of the main pillars of our economy, generating employment, other business and services.