Property Price Registry launched aimed at strengthening transparency and trust

Email item Email item Print item Print item

Zebbug view, GozoA Property Price Registry, which is expected to strengthen transparency and trust in the property market in Malta and Gozo, is the new initiative by the Property Malta Foundation.

Operators such as agents, banks, entities and companies can subscribe to the service, Maltese and Gozitan citizens, including first-time buyers, who require information from the Property Price Register on a property they are looking for, will be able to request this information free of charge from Property Malta.

This register, developed by Property Malta on a platform built by PwC Malta, provides verified price parameters of residential and contractual properties, based on contracts registered since 2018 and not speculative or advertised values.

Justice Minister Jonathan Attard praised the initiative and said that the property market is not only an economic market, but also a social reality that directly affects the lives of Maltese and Gozitan families, particularly those who are entering the market for the first time.

It was explained that through advanced analytical tools, geospatial maps and interactive dashboards, this platform will significantly reduce the information imbalance and enable more informed decisions by banks, professionals, policymakers and citizens.

Attard also said that the Property Price Register complements the structural reforms that the Government is carrying out in the sector, including the establishment of the Property Market Agency as a new regulator of intermediaries, as well as the strengthening of licensing, enforcement and standards in the construction sector.

The Minister thanked Property Malta, PwC Malta and all parties involved for this initiative.

The conference was also addressed by Property Malta Chairman Sandro Chetcuti and a presentation was given by PwC Director Angelique Spina. Among the sector partners present were representatives from the Malta Development Association and regulatory entities, including the Property Market Agency.

File photo: Gozo News/Alain Salvary

  • Permalink: Property Price Registry launched aimed at strengthening transparency and trust
  • You may also like...

    Leave a Reply

    Your email address will not be published. Required fields are marked *