Friday 03 April 2020

MDA’s reaction to Budget

The Malta Developers Association (MDA) considers the 2019 Budget announced yesterday as one that reflects the economic progress Malta is making and is a good effort towards ensuring that everyone benefits from this progress. MDA affirms its belief that the increase in the minimum wage should also reflect the country’s positive economic trend.

MDA notes with satisfaction that a number of incentives for property buyers that were introduced in the past on the suggestion of the MDA – such as those relating to first- and second-time buyers, property in UCA areas and in Gozo – are going to be continued. 

Other new suggestions by the MDA have also been taken up by government, such as the need for incentivising privately owned parking facilities as well as incentivising landlords to make longer leases and other measures to ensure that there is a provision of affordable housing and affordable rents.

It also welcomes the new scheme that is intended to help those who are over 40 to be able to buy property by overcoming the difficulties that they face – because of their age – when acquiring a bank loan.

While the MDA’s reaction to the Budget is very positive, it regrets that Government has not adopted its suggestions regarding incentives for energy-saving measures in buildings and incentives to help contractors to buy new environment friendly equipment, rather than importing old, second-hand machinery that is usually a source of pollution.

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