No signs of slowdown in property market, Malta Developers Association says
January figures for property sales and promise of sale agreements show that there is no slowdown in the property market, the Malta Developers Association said on Wednesday.
The MDA said that according to its own data, there were 1,247 promise of sale agreements registered in January. This was the second-highest number for January in the past seven years, it said.
Property collectively valued at almost €330 million - €328,438,582 - was sold last month, it said. That was the highest January amount in the last seven years.
Official statistics about property transactions in January are due to be published by the National Statistics Office on February 9.
The MDA statement said its January figures gave the lie to claims that Malta's property sector was slowing down.
Figures published by the NSO last month indicated a dramatic slowdown in promise of sale agreements last December when compared to 12 months prior.
NSO statistics for December showed that deeds of sale were down 28.8 per cent last December while promises of sale dropped by a whopping 55.9 per cent. The value of final deeds that month totalled €225.1 million, 28.5 per cent lower than in December 2021.
Concerns about the...