Msida Malta pexels

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.

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