Only 25% of vacant properties ‘up for sale’, say developers

Building construction lobby MDA (Malta Developers Association) has said it has been vindicated by a study presented by the Head of the National Statistics Office (NSO), showing that the number of vacant residential units resulting in the last census is not equivalent to the number of vacant units that are up for sale in the property market.

"When one considers the number of units that are used as summer residences, as well as the number of properties that are in a dilapidated state or need repairs and those that are still in shell form, it is clear that the number of units that are ready for habitation and up for sale is only a fraction, that is less than 25% of the total number of properties indicated as vacant," the MDA said in a statement.

"The MDA keeps on insisting publicly with the relevant authorities on the need for the NSO to carry out a deeper study so that more detailed statistics on the different categories of vacant properties are drawn up in a scientific manner.

"Decisions that affect the property market should always be taken when one has the actual facts at hand and should always be based on these facts rather than on attitudes arising from emotions, as some expect."