Government claims credit for property sale boost

The government has welcomed the record number of promises of sale of property signed last month, with Parliamentary Secretary Chris Agius stating that it was clearly primarily due to its decision to reduce the stamp duty on property sales.

Earlier this week, the Malta Developers’ Association expressed its satisfaction at preliminary figures which suggested that more than 1,600 promises of sale were registered last month, with a total value exceeding €330 million. August appears to be building on this trend.

Agius pledged that the government would strengthen its efforts to help the property sector with the aim of maintaining the trend, insisting that this was being done with concrete measures.

One of the most radical steps, he said, was the need for property agents to be licensed as from 2022, with training required before the licence is granted.