Malta real estate market: new regulations

Changes are approaching for real estate agencies of the Republic of Malta. Very soon, every Maltese realtor will be required to have a state license. The same applies to consultants and brokers, providing services in the field of buying or selling real estate. The government is confident that these measures will make the market more transparent.

Chris Agius, parliamentary secretary for land and construction, announced the upcoming changes to representatives of real estate agencies, he said that the main goal of innovation is to improve the control of the real estate market, make sale and purchase operations of Malta property truly transparent. The implementation of licenses will indicate the difference between the status of a broker, consultant and agent and will allow any Maltese realtor to legally conduct their activities.

Realtors who take a specialized course at MCAST (The Malta College of Arts, Science & Technology) can count on obtaining a state-issued license. This kind of license will be valid for five years. In addition, a special department that would register all realtors receiving a state license will appear.

Malta's real estate market is in the period of solid growth today. Demand for residential apartments is increasing, while the supply is still dragging behind. The resort real estate in the republic is also in demand, attracting investors from the USA, Canada and EU countries to buy and rent.