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Discover the latest news in the Maltese real estate market! We delve into the record-breaking month for real estate transactions as reported by the Malta Developers Association. Explore the r
The Malta Developers Association (MDA) has recently announced that May 2023 has been an exceptional period for the property market in Malta, recording the best-ever month for real estate transactions in the country's history.
According to the MDA statement, the total promise of sales has increased by an impressive 25% from €360,440,685 to €449,513,813, reflecting an increase of €89,013,128. The number of promise of sale agreements also increased by 16% from 1,388 to 1,617. Furthermore, for the period January to May 2023, there was a jump in the total promise of sales agreements from €1,626,851,362 to €1,931,836,439 (19% increase), and an increase of the promise of sale agreement from 6,155 to 6,976 (13%) in the same period this year.
The MDA attributes this remarkable milestone to favourable market conditions, a strong economy, and continued investments in the development of the real estate sector. The remarkable growth of the Maltese property market solidifies its position as an excellent investment destination.
Michael Stivala, President of the Malta Developers Association, expressed his delight at witnessing the extraordinary achievement for the property market in Malta, stating that the record-breaking figures in sales are a testament to the strength and resilience of the industry.
The collective efforts of MDA members, real estate agents, developers, and other industry stakeholders have played a pivotal role in achieving this remarkable feat. Their dedication, innovation, and commitment to delivering high-quality properties have helped attract both local and international buyers.
The Malta Developers Association remains committed to fostering a conducive environment for sustainable growth in the property sector. The Association will continue to work closely with the government, regulatory bodies, and its members to ensure continued success and growth of the real estate industry in Malta.
In conclusion, the remarkable increase in real estate transactions reflects the trust and confidence of buyers and investors in Malta's property market. The Association urges all stakeholders to uphold the highest standards of professionalism, transparency, and integrity to maintain this trust and confidence, which will ultimately drive the continued growth of the sector.
