MDA: 20% increase in property deals registered in October when compared to 2023

The Malta Development Association has said a 20% increase in the value of properties under promise of sale agreements has been registered in 2024 when compared to the previous year.

The developers lobby said figures rose from €363,153,896 in 2023 to €415,295,353 in 2024.

“This is the highest figure ever recorded for the month of October in Malta's history,” it said in a statement.

The MDA also reported an increase in the number of promises of sale by around two percent (2%).

The data collection method or source for the figures presented by the MDA were not provided, with a statement just saying that data is extracted from different sources and included both residential and commercial properties.

“These figures further confirm the importance of the property sector in Malta's economy,” the MDA said. “This sector is one of the fundamental pillars, and as such, it requires careful safeguarding.”

As demand for property continues to rise, the MDA said for the country to sustain this level of investment, it is essential to address issues of bureaucracy, “which adds no value”, as well as supportive investments that enhance quality, including infrastructure and more efficient building.