CHRIS AGIUS
PARLIAMENTARY SECRETARY FOR CONSTRUCTION
During the past years, we have held discussions and consultations with stakeholders, regarding a new law that would regulate the real estate sector. This led to the coming into force of this law in July 2020. The law is quite straight forward, where it will become mandatory that all those who work in the sector must have a valid licence come 1st January 2022. The date chosen of when the law comes into force was chosen after we were certain that we have enough fully licensed training institutions which could offer the necessary courses.
Today we can say that the majority of those working in the sector have followed the required course and the Real Estate Board is receiving applications so that eventually licences will be issued. We appeal to all those who intend to work in the Real Estate sector as from January 2022, to submit all the required information by 17th September 2021 so as they guaranteed a licence by December 2021. Exempted from having a licence are those who perform not more than two transactions a year. This sector has seen an exponential increase during the past years, and so the coming into force of this law, was long awaited by all. We will now have a better regulated sector, with all those working in the sector fully licenced.
During the past years, Property Malta Foundation has assisted those working in the real estate and construction sector to venture overseas and seek new business. Property Malta has participated in Property fairs in the Cannes Expo, CityScape in Dubai and Expo Real in Munich. Later this year we will be assisting businesses to join Property Malta and be part of the Expo Dubai 2020.
This article originally appeared in Property Malta Supplement 02 published with the Malta Today on Sunday newspaper on 29 August 2021.
