Developers making hay… MDA says July ‘one of the best months for property since 2017’

 Malta Developers’ Association said July was one of the best months since 2017

MDA President Sandro Chetcuti
MDA President Sandro Chetcuti

Property sales have flourished in July 2020, making the month one of the best since at least 2017, the Malta Developers' Association (MDA) said in a statement.

The MDA said according to preliminary data, more than 1,600 promises of sale were registered, with a total value exceeding €330 million. “This puts July 2020 as one of the best months since 2017,” the association said.

The MDA said it attributed the growth to the government’s decision to adopt proposals it made in June to counter the COVID-19 slowdown, which it said had entered on lower tax on property sales.

The association, however, underlined the importance of creating a stimulus for all economic sectors based on initiatives with very low-risk health repercussions.

"The MDA is very worried about the way the second wave(of COVID-19) is being handled and calls for better-coordinated efforts by government and increased efforts by everyone to make sure that the country emerges stronger from this the challenge," the MDA said.