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STATISTICS MALTA

Residential Property Transactions: February 2023

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Residential_Property_Transactions_February_2023.pngThe number of final deeds of sale and promise of sale agreements relating to residential property amounted to 931 and 1,032 during February 2023, registering an annual rate of change of -12.8 per cent and 6.9 per cent, respectively.

This news release presents provisional data on residential property sale transactions based on the date of registration with the tax authority. Final deeds of sale In February 2023, the number of final deeds of sale relating to residential property amounted to 931, a 12.8 per cent decrease when compared to those registered a year earlier (Table 1a). The value of these deeds totalled €239.0 million, 6.0 per cent lower than the corresponding value recorded in February 2022 (Table 2a).

In the month under review, 861, or 92.5 per cent, of these final deeds of sale involved individual buyers (households), with companies accounting for virtually all the rest (Table 1b). The value of the deeds involving individual buyers (households) amounted to €186.7 million, equivalent to 78.1 per cent of the total value (Table 2b).

Final deeds of sale by district and by cluster of localities

In February 2023, the highest numbers of final deeds of sale were recorded in the Northern Harbour District and the Northern District, registering a total of 250 and 182 deeds, respectively. On the other hand, the lowest numbers of deeds were registered in the Western District, followed by the South Eastern District, with 95 and 125 deeds, respectively (Table 3).

 

For the purpose of this release, the districts were further sub-divided into clusters of localities as presented in Tables 3 and 5. Cluster 4 (Il-Ħamrun, Tal-Pietà, Santa Venera, L-Imsida, Birkirkara, Ħal Qormi) recorded the highest number of final deeds of sale in February 2023, totalling 140. The second highest number was recorded in Cluster 14 (IlMellieħa, San Pawl Il-Baħar, L-Imġarr), with 133 deeds. Cluster 1 (Valletta, Il-Furjana, Il-Marsa) and Cluster 9 (Ħal Għaxaq, Ħal Kirkop, L-Imqabba, Il-Qrendi, Il-Gudja) registered the lowest count of deeds at 18 and 22, respectively.

Promise of sale agreements In February 2023, 1,032 promise of sale agreements relating to residential property were registered, equivalent to an increase of 6.9 per cent over the previous year (Table 4a). Individual potential buyers (households) accounted for 944 or 91.5 per cent of these agreements, while the rest mainly involved companies (Table 4b).

Promise of sale agreements by district and by cluster of localities

The largest number of promise of sale agreements corresponded to residential properties in the Northern Harbour District with 312 agreements, followed by the Northern District with 192 agreements. On the other hand, the lowest figures of promise of sale agreements were noted in the Western District, and the Gozo and Comino District, at 95 and 121 agreements, respectively.

The clusters with the highest number of agreements were Cluster 4 (Il-Ħamrun, Tal-Pietà, Santa Venera, L-Imsida, Birkirkara, Ħal Qormi), with a total of 171 agreements, and Cluster 14 (Il-Mellieħa, San Pawl Il-Baħar, L-Imġarr), totalling 115 agreements. At 13 and 19 agreements, the lowest numbers were recorded in Cluster 12 (Ħal Balzan, L-Iklin, Ħal Lija) and Cluster 1 (Valletta, Il-Furjana, Il-Marsa), respectively (Table 5).

 

 

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