The Construction Industry and Property Market Report 2023 published by KPMG Malta, at Malta’s Property Market Outlook Conference 2023, provides a comprehensive overview of the current state of the construction industry and property market in Malta.
The building industry, encompassing all stages from excavation to real estate sales, continues to play a pivotal role in the Maltese economy. Its significance extends beyond economic contributions, as it profoundly influences the environment, quality of life, and social well-being.
From an economic standpoint, the industry’s interconnectedness spans a wide spectrum, encompassing the supply of raw materials, fixture manufacturing, infrastructure construction, and its role as collateral in the financial sector. This intricate web of relationships renders the industry susceptible to external economic fluctuations while also transmitting its own shocks to various sectors.
Taking a broader, more holistic view, it becomes evident that the construction process and its end product have far-reaching consequences that extend beyond immediate transactions. These consequences include impacts on sustainable development, the aesthetic appeal and allure of the Maltese Islands, and the creation of inter-generational wealth, among others. These multifaceted effects make the industry a subject of interest, continuous discussion and occasional controversy.
This report represents an update to previous reports and just as in past editions, we have sought to identify shifts within the industry and to highlight trends that could shape its future. Our ultimate objective remains unaltered: to furnish both qualitative and quantitative insights into the dynamics of the construction industry and property market. We achieve this by analysing primary and secondary data and by engaging with industry stakeholders, with the overarching goal of offering a comprehensive analysis of the sector.
