Formation of the New Committee of the Real Estate Trade Section - Federation of Estate Agents

Mr Trafford Busuttil was elected Chairman of the Real Estate Trade Section of the Malta Chamber of Commerce and Enterprise for 2009 during the first meeting of the executive committee held on the 14tn of November. This meeting followed the Annual General Meeting of the Trade Section which was held on the 5th of November. The committee is further composed by Mr Joseph Sullivan Vice Chairman, Mr Steve Sant Fournier Honorary Secretary, Mr Ian Casolani, Mr Alan Camilleri and Mr Douglas Salt as Committee Members. Mr Joe Mercieca was also nominated to represent the Gozo sub-committee. The same committee will also take care of the Federation of Estate Agents Council which will be presided by Mr Busuttil as well.

On being elected, Mr Busuttil stated 'that the current situation prevailing internationally presents an opportunity for the local property market, in actual fact what is happening in Europe could be turned into an opportunity for us, if the local property market can be made more attractive to foreign investors. This industry must be rendered competitive if it is to succeed and thrive. According to recent research conducted by Carter Allen Private Bank, a subsidiary of Banco Santander, some three million British nationals are likely to be tempted to invest in property overseas within the next two years as economic conditions in the United Kingdom make strong returns from domestic investments less plausible.