In a testament to the strength of Malta's property market, the Malta Development Association (MDA) has revealed that a €4.6 billion worth of Promise of Sale (POS) agreements were signed in 2023. This marks a significant 3% increase from the previous year's figure of €4.2 billion, placing 2023 as the second-best year on record, only behind the record-breaking €4.8 billion in 2021. The sheer volume of POS agreements, totalling 16,636, underscores the demand and investor confidence in the Maltese property market, even amidst global economic uncertainties.
The MDA remains optimistic about the sector's prospects for 2024, and recognises that real estate continues to be the investment of choice for Maltese families, representing the interests of thousands of investors, both large and small. For 2024, the association will persist in advocating for policies that promote homeownership among Maltese buyers, in opposition to the prevailing trend of renting properties in most other European markets.
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Originally published 3rd January 2024.
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