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STATISTICS MALTA

Malta: Residential Property Transactions, september 2023

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MALTA_Retail_Price_Index_RPI_August_2023_1.jpg In September 2023, the number of final deeds of sale and promise of sale agreements relating to residential property amounted to 815 and 1026, respectively. In relation to the amounts registered in 2022, the final deeds of sale decreased by 23.6 %, whereas promise of sale agreements increased by 5.3 %.

 In September 2023, the number of final deeds of sale relating to residential property amounted to 815, a 23.6 % decrease when compared to those registered a year earlier. The value of these deeds totalled €227.8 million, representing a decrease of 9.1 % when compared to the corresponding value recorded in September 2022.

In the month under review, 749 (or 91.9 %) of these final deeds of sale involved individual buyers (households), with companies accounting for virtually all the rest. The value of the deeds involving individual buyers (households) amounted to €181.9 million, equivalent to 79.9 % of the total value.

Final deeds of sale by district and by locality

In September 2023, the highest numbers of final deeds of sale were recorded in the Northern Harbour District and the Northern District, registering a total of 261 and 140 deeds, respectively. At 74 and 98 deeds, the lowest numbers were recorded in the Western District, and the Gozo and Comino District, respectively.

The highest numbers of final deeds of sale were recorded in the following localities: San Pawl Il-Baħar (54), Birkirkara (50) and Marsaskala (40). The sum of agreements recorded in these localities corresponded to 17.7 % of the total final deeds of sale registered during September 2023. 

In the third quarter of 2023, 2835 final deeds of sale were registered, an annual decrease of 21.1 %. The value of the deeds registered during this period went down by 8.9 % over the same quarter of the previous year and amounted to €783.2 million. The highest numbers of final deeds of sale were recorded in the localities of San Pawl Il-Baħar (224), Birkirkara (138) and Il-Mosta (134).

Promise of sale agreements

In September 2023, 1,026 promise of sale agreements relating to residential property were registered, equivalent to an increase of 5.3 per cent over the previous year. Individual potential buyers (households) accounted for 926 (or 90.3 %) of these agreements, while the rest mainly involved companies.

The largest number of promise of sale agreements related to residential properties were registered in the Northern Harbour District with 322 agreements, followed by the Northern District with 201 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 86 and 112 agreements, respectively.

The highest numbers of promise of sale agreements were recorded in the following localities: San Pawl Il-Baħar (101), L-Imsida (59) and Birkirkara (53). The sum of agreements recorded in these localities corresponded to 20.8 % of the total promise of sale agreements registered during September 2023. 

In the third quarter of 2023, the number of promise of sale agreements reached 3081, representing an annual increase of 8.2 %. The highest numbers of promise of sale agreements were recorded in the localities of San Pawl Il-Baħar (288), L-Imsida (170) and Birkirkara (144).

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