January 2021 saw a record number promise of sale (kunvenju) property agreements reached, Prime Minister Robert Abela said in a social media post.
“This January we had a record amount of property transactions. In the eight months since we launched the economic regeneration plan, there have been nearly 11,000 promise of sale [agreements]. On average every day, €10 million worth of property was transacted,” Prime Minister Robert Abela wrote on Twitter.
The national broadcaster, TVM, quoted the Malta Developers Association which said 1,157 promise of sale agreements were reached in January 2021, with a value of €274 million.
The MDA also said this is a new record in property sales.
It added that when compared with January 2019, an increase of 174 agreements was registered, translating into an increase of €59 million in sold property.
Despite the economic hardship faced by many industries in Malta and around the world, the MDA last year announced record promise of sale agreements for July, August, September, October and November 2020.
Unemployment reaches 12,146 in June, up by more than 3,500 over the past year
Unemployment sees an increase of 3,639 people in the span of a year
‘Competitivity is not built solely through competitive taxation’ – Malta Chamber of Commerce President
Good governance is not only a reputational question, it is also an economic one, he said
Government set to toughen on-the-spot fines as ministers review new enforcement measures
Minister Clifton Grima says that the on-the-spot fines was a good move