Some 500 real estate professionals including estate agents, property developers, architects, legal advisors and financial services operators, attended the conference held at Intercontinental Hotel in St Julians on Tuesday 19th November.
Headline speakers included: Hon. Dr. Robert Abela (Prime Minister of Malta), Hon. Ian Borg (Deputy Prime Minister of Malta), Hon. Clint Camilleri (Minister for Gozo and Planning), Hon. Stanley Zammit (PN Spokesperson for Planning, Research and Innovation) and Sandro Chetcuti (Property Malta Foundation Chairperson)
Panel 1 discussed “The Property Price Puzzle – pricing, affordability and ESG considerations”, whilst Panel 2 discussed “Building Tomorrow: Navigating Challenges, Seizing Opportunities”.
Steve Stivala (Director, Advisory, KPMG), Rachel Decelis (Associate Director, ESG, KPMG) and David Pace (Partner, Head of Advisory, KPMG) presented their research findings which have been published in the Construction Industry and Property Market Report 2024.
Key findings
Construction industry and property market in a nutshell in 2024
During 2024, Malta’s property market delivered mixed results, yet an optimistic outlook prevails. Residential property prices saw healthy, stable growth, reflecting a robust sector. Meanwhile, the residential rental market has strengthened significantly, reflecting robust demand. In the commercial office space market, emerging opportunities could attract diverse business needs and support the evolving dynamics of the sector. On the construction side of things, the industry contracted in real terms for the second consecutive year; though it remains an important part of the economy generating significant value add and employing thousands of workers.
Many stakeholders view this as an opportunity to shift focus towards quality, professionalism, and alignment with Malta’s evolving regulatory landscape. While this is essential, this period of recalibration must ensure that the industry is also seamlessly aligned with Malta’s new socioeconomic priorities and climate ambitions.
