Property sales last month were 18 per cent better than the same month of 2019, the Malta Developers' Association said on Wednesday.

"Despite the economic uncertainty spurred by the consequences of the global pandemic, preliminary data shows that 1,245 promises of sale were registered last November, a significant increase over the same month of 2019. The value of property sales registered last month, reached €274 million, an increase of €41 million on November 2019," the association said.

In terms of value the increase was also 18 percent.

The MDA noted, however, that November registered lower turnover in promises of sales and property value when compared to the same month in both 2017 and 2018.

MDA President Sandro Chetcuti commented that while in the current circumstances the results of November 2020 were encouraging, it also meant that more needed to be done so that the economy could continue to resist the current recession.

While the sector and the economy as a whole were still facing tough problems, the positive news that a vaccine was on the verge of being rolled-out instilled confidence that the page would soon be turning, he said.