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STATISTICS MALTA

Malta: Residential Property Transactions June 2023

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Malta_Residential_Property_Transactions_June_2023.jpgIn June 2023, the number of final deeds of sale and promise of sale agreements relating to residential property amounted to 978 and 1,141, respectively. In relation to the amounts registered in 2022, the final deeds of sale decreased by 18.1 per cent, whereas promise of sale agreements increased by 5.0 per cent.

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 June 2023, the number of final deeds of sale relating to residential property amounted to 978, an 18.1% decrease when compared to those registered a year earlier. The value of these deeds totalled €248.2 million, representing a decrease of 12.0% when compared to the corresponding value recorded in June 2022.

In the month under review, 910, or 93.0%, 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 €186.4 million, equivalent to 75.1% of the total value.

Final deeds of sale by district and by locality

In June 2023, the highest numbers of final deeds of sale were recorded in the Northern Harbour District and the Northern District, registering a total of 294 and 185 deeds, respectively. At 96 and 113 deeds, the lowest numbers were recorded in the Western District, and the Gozo and Comino District, respectively.

The highest number of final deeds of sale were recorded in the following localities: San Pawl Il-Baħar (102), Ħal Qormi (43), Ħaż-Żabbar (38) and Marsaskala (38). The sum of agreements recorded in these localities corresponded to 22.6% of the total final deeds of sale registered during June 2023

Q2/2023

In the second quarter of 2023, 2,987 final deeds of sale were registered, an annual decrease of 16.3%. The value of the deeds registered during this period went down by 4.0% over the same quarter of the previous year and amounted to €763.5 million. The highest numbers of final deeds of sale were recorded in the localities of San Pawl Il-Baħar (268), Birkirkara (130) and Marsaskala (122).

Promise of sale agreements

In June 2023, 1,141 promise of sale agreements relating to residential property were registered, equivalent to an increase of 5.0% over the previous year. Individual potential buyers (households) accounted for 1,040 or 91.1%, of these agreements, while the rest mainly involved companies.

Promise of sale agreements by district and by locality

The largest number of promise of sale agreements related to residential properties in the Northern Harbour District with 385 agreements, followed by the Northern District with 194 agreements. On the other hand, the lowest figures of promise of sale agreements were noted in the Gozo and Comino District, and the Western District, at 114 and 124 agreements, respectively.

The highest numbers of promise of sale agreements were recorded in the following localities: San Pawl il-Baħar (84), Birkirkara (56) and Ħal Qormi (47). The sum of agreements recorded in these localities corresponded to 16.4% of the total final deeds of sale registered during June 2023

Q2/2023

In the second quarter of 2023, the number of promise of sale agreements reached 3,505, representing an annual increase of 8.6%. The highest numbers of promise of sale agreements were recorded in the localities of San Pawl Il-Baħar (316), Birkirkara (157) and Il-Mosta (131).

 

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