MDA vindicated on vacant properties
The presentation on the number of vacant units, given by the Head of the National Statistics Office (NSO) during a recent activity organised by the Kamra tal-Periti, confirms what the Malta Developers Association (MDA) has always maintained, i.e. the number of vacant residential units that results from the last census is not equivalent to the number of vacant units that are up for sale in the property market.
Some aspects of this presentation were reported today in a section of the press.
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 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