Last Updated on Wednesday, 11 September, 2024 at 4:06 pm by Andre Camilleri
In August 2024, the number of final deeds of sale relating to residential property amounted to 957, a decrease of 3.4% when compared to those registered in August 2023, the National Statistics Office (NSO) has said.
“The value of these deeds totalled €264.4 million, representing a decrease of 5.1% when compared to the corresponding value recorded in August 2023.”
In the month under review, 886 (or 92.6%) of these final deeds of sale involved individual buyers (households), with companies accounting for virtually all remaining deeds, the NSO said. “The value of the deeds involving individual buyers (households) amounted to €229.3 million, equivalent to 86.7% of the total value.”
Final deeds of sale by district and by locality
In August 2024, the highest numbers of final deeds of sale were recorded in the Northern Harbour and the Northern districts, with totals of 256 and 204 deeds, respectively. On the other hand, the lowest numbers were registered in the Western and the South Eastern districts at 101 and 112 deeds, respectively, the NSO said.
The highest numbers of final deeds of sale were recorded in the following localities: St Paul’s Bay (86), Mosta (46), Birkirkara (39) and Fgura (39). The sum of agreements recorded in these localities corresponded to 21.9% of the total final deeds of sale registered during August 2024, the NSO said.
During the month under review, the number of properties transacted in the final deeds of sale was equivalent to 1,023. Apartments (366) and Garages (242) accounted for the largest shares, at 35.8% and 23.7%, respectively.
Promise of sale agreements
In August 2024, 1,000 promise of sale agreements relating to residential property were registered, equivalent to an increase of 3.3% over the same period in 2023. Individual potential buyers (households) accounted for 924 (or 92.4%) of these agreements, while the rest mainly involved companies, the NSO said.
Promise of sale agreements by district and by locality
The largest number of promise of sale agreements related to residential properties were registered in the Northern Harbour district with 277 agreements, followed by the Northern district with 181 agreements. On the other hand, the lowest figures of promise of sale agreements were noted in the Western, and the Gozo and Comino districts, at 99 and 122 agreements, respectively.
The highest numbers of promise of sale agreements were recorded in the following localities: St Paul’s Bay (59), Birkirkara (57) and Marsaskala (46). The sum of agreements recorded in these localities corresponded to 16.2% of the total promise of sale agreements registered during August 2024.
