New property market regulatory agency launched

Government has launched the Property Market Agency, a new entity aimed at overseeing the property market.

Among its mission statements, the agency will regulate and oversee the market, provide training for industry professionals, conduct public awareness campaigns, coordinate research, and promote ethical business practices that prioritise consumer protection.

During the company’s inauguration, construction sector minister Jonathan Attard said that the agency will regulate the property market under a fresh and structured regulatory framework. He said this will prevent malpractice, set higher industry standards, and enhance protections for buyers, sellers, and real estate professionals. 

Attard noted that government recognises that the property market is “one of the most substantial investments for both families and businesses. Therefore, this agency will ensure that all market operators comply with well-defined regulations, helping to prevent malpractice and unfair business practices.”

The agency’s CEO, Joe Deguara highlighted its core mission: to equip consumers with the necessary knowledge and confidence to navigate the property market effectively.