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MDA welcomes political commitment to property market

The Malta Developers Association has expressed satisfaction at the Labour Party’s has already made proposals in favour of the Permanent Residents Scheme, tax on rental income from residences through a withholding tax and the renewal of MEPA permits that have already been issued.

It said in a statement it was only developers who were going to benefit from these proposals but many property owners in Malta and Gozo. These were all issues on which the MDA had been lobbying for a long time in public, as well as through requests in writing that were made to the government and the opposition.

The MDA said it expected the Nationalist Party manifesto, which was going to be approved later this week, to give due importance to the property market.

The property market, it said, was is one of the main pillars of the economy, generating employment, other business and services.

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