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STATISTICS MALTA

Malta: Residential Property Transactions May 2023

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INDICATORI_DEI_SERVIZI_A_BREVE_TERMINE_Q12023.png In May 2023, the number of final deeds of sale and promise of sale agreements relating to residential property amounted to 1,080 and 1,304, respectively.  In relation to the amounts registered in 2022, the final deeds of sale decreased by 13.7 per cent, whereas promise of sale agreements increased by 15.9 per cent.

Final deeds of sale

In May 2023, the number of final deeds of sale relating to residential property amounted to 1,080, a 13.7 per cent decrease when compared to those registered a year earlier (Table 1a). The value of these deeds totalled €252.5 million, representing a decrease of 8.0 per cent when compared to the corresponding value recorded in May 2022 (Table 2a).

In the month under review, there were 978 final deeds of sale involving individual buyers (households), representing 90.6 per cent of the total, with companies accounting for virtually all the rest (Table 1b). The value of the deeds involving individual buyers (households) amounted to €208.3 million, equivalent to 82.5 per cent of the total value (Table 2b).

Final deeds of sale by district and by locality

In May 2023, the highest numbers of final deeds of sale were recorded in the Northern Harbour District, and the Northern District, registering a total of 317 and 192 deeds, respectively. At 102 and 146 deeds, the lowest numbers were recorded in the Western District, and the Gozo and Comino District, respectively (Table 3).

The highest number of final deeds of sale were recorded in the following localities: San Pawl il-Baħar (92), Birkirkara (49), Tas-Sliema (46) and Marsaskala (41) (Chart 2a). The sum of contracts recorded in these localities corresponded to 21.1 per cent of the total final deeds of sale registered during May 2023.

 

Promise of sale agreements

In May 2023, 1,304 promise of sale agreements relating to residential property were registered, equivalent to an increase of 15.9 per cent over the previous year (Table 4a). Individual potential buyers (households) accounted for 1,209 of these agreements, representing 92.7 per cent of the total, while the rest mainly involved companies (Table 4b).

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 373 agreements, followed by the Northern District with 258 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 120 and 167 agreements, respectively (Table 5).

The highest numbers of promise of sale agreements were recorded in the following localities: San Pawl il-Baħar (124), Tas-Sliema (54), Birkirkara (50) and Marsaskala (49) (Chart 2b). The sum of agreements recorded in these localities accounted for 21.2 per cent of the total amount of promise of sale agreements registered during May 2023

 

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