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STATISTICS MALTA

RESIDENTIAL PROPERTY TRANSACTIONS: JANUARY 2023

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MALTA_Index_of_Industrial_Production_November_2022_8.jpgThis 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 January 2023, the number of final deeds of sale relating to residential property amounted to 1,097, a 4.5 per cent decrease when compared to those registered a year earlier (Table 1a). The value of these deeds totalled €290.5 million, 16.2 per cent higher than the corresponding value recorded in January 2022 (Table 2a).

In the month under review, 998, or 91.0 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 €221.7 million, equivalent to 76.3 per cent of the total value (Table 2b).

Final deeds of sale by district and by cluster of localities
In January 2023, the highest numbers of final deeds of sale were recorded in the Northern Harbour District and the Northern District, registering a total of 314 and 194 deeds, respectively. On the other hand, the lowest numbers of deeds were registered in the Western District, followed by the South Eastern District, with 104 and 138 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 January 2023, totalling 189. The second highest number was recorded in Cluster 14 (Il-Mellieħa, San Pawl Il-Baħar, L-Imġarr), with 132 deeds. Cluster 12 (Ħal Balzan, L-Iklin, Ħal Lija) and Cluster 1 (Valletta, Il-Furjana, Il-Marsa) registered the lowest count of deeds at 16 and 19, respectively.

Promise of sale agreements
In January 2023, 921 promise of sale agreements relating to residential property were registered, equivalent to an increase of 38.9 per cent over the previous year (Table 4a). Individual potential buyers (households) accounted for 841, or 91.3 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 268 agreements, followed by the Northern District with 179 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 89 and 109 agreements, respectively.

The clusters with the highest number of agreements were Cluster 4 (Il-Ħamrun, Tal-Pietà, Santa Venera, L-Imsida, Birkirkara, Ħal Qormi) where 162 agreements were recorded, and Cluster 14 (Il-Mellieħa, San Pawl Il-Baħar, L-Imġarr), where agreements totalled 107. At 16 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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