Data released by NSO on Wednesday showed that 1,157 final deeds of sale relating to residential property were registered during the month of May 2026, representing a decrease of 45 deeds of sale, or 3.7%, when compared to May 2025.

Despite the decline in the number of transactions, the total value of these deeds reached €342.3 million, an increase of 2.5% over the corresponding month last year.

The NSO also reported a fall in residential property demand indicators, with 1,316 promise of sale agreements registered in May.

This represented a decrease of 61 agreements, or 4.4%, compared with the same period in 2025. However, the total value of these agreements rose sharply to €604 million, marking a year-on-year increase of 29.2%, the NSO said.

According to NSO, individual buyers remained the dominant participants in the residential property market. Of the 1,157 during May, 1,053, or 91%, involved individual buyers or households. Companies accounted for virtually all of the remaining transactions

The value of deeds involving households amounted to €282.3 million, representing 82.5% of the total value of all final deeds registered during the month.

Similarly, households accounted for the vast majority of promise of sale agreements. The NSO reported that 1,177 agreements, or 89.4% of the total registered in May, involved individual prospective buyers, while the remainder primarily involved companies.

The locality recording the highest number of residential property sales was St Paul’s Bay, with 98 final deeds of sale registered during the month. Birkirkara followed 68 deeds, while Marsascala recorded 51 transactions.

The same localities also topped the list for promise of sale agreements. St Paul’s Bay registered 88 agreements, followed by Birkirkara with 70 and Marsascala with 50.

The NSO data also provided insight into the types of properties changing hands. A total of 1,261 properties were transacted through the 1,157 final deeds registered during May, reflecting the fact that a single deed can include more than one property.

Apartments remained the most commonly transacted property type, accounting for 466 properties, or 37% of the total. Garages were the second most popular category, with 294 transactions representing 23.3% of all properties sold.

Looking at broader trends during the year, residential property sales have generally remained above the levels recorded during the first five months of 2025.

Between January and May 2026, a total of 5,689 final deeds of sale were registered, compared with 5,395 during the corresponding period last year.

Sales activity showed strong growth during the opening months of 2026, with 1,136 deeds recorded in January, 1,101 in February and 1,146 in March. April also registered a year-on-year increase, reaching 1,149 deeds compared with 1,050 in April 2025.

May was therefore the first month this year to register a decline when compared with the corresponding month of the previous year.

The NSO noted that the residential property transactions featured in the release are not limited to purchases made by households and may involve other economic agents. Furthermore, a single final deed of sale or promise of sale agreement can cover multiple properties.

The statistics are compiled using registrations with the Malta Tax and Customs Administration and are based on the date on which deeds and agreements are officially registered.

The NSO also said that the figures remain subject to revision should updates to the source data become available.

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Valletta Bridge Ltd is a joint venture company whose shareholders are CPHCL Group and Attard Bros Group. This project will transform Malta’s first power station, built in the 17^th century, into a mixed-use development comprising of an exclusive 20-room boutique hotel complemented by a range of high-quality amenities, creating a unique hospitality experience that celebrates the site’s industrial heritage while meeting the expectations of today’s discerning travellers. It will also house high end offices, retail and food and beverage offerings.

This landmark building occupies a unique location beneath Crucifix Hill in Floriana, within walking distance of Valletta and adjacent to the cruise passenger terminals and the Valletta Waterfront destination, Valletta Cuise Port said. The project will breathe new life into an underutilised heritage asset while preserving its historical significance and distinctive architectural character.

The project which forms part of Valletta Cruise Port’s terminal precincts, fits with the Company’s broader vision to continue enhancing the Valletta Waterfront destination, building on more than two decades of investment in heritage restoration, tourism infrastructure and destination development.

Stephen Xuereb, CEO of Valletta Cruise Port and COO of Global Ports Holding, said: “The signing of this agreement marks the beginning of an exciting new chapter for one of the most distinctive historic buildings within Malta and the Grand Harbour region. This building is an important part of Malta’s industrial heritage.  This project will ensure its preservation and sustainable future use. Through the creation of an intimate boutique hotel and complementary amenities, we are not only restoring a remarkable landmark but also strengthening the destination and further contributing to the ongoing regeneration of the Grand Harbour. This investment reflects our long-term commitment to preserving heritage, enhancing the visitor experience and creating lasting value for Malta.”

Jean-Pierre Schembri, CPHCL Group CEO, held that “At CPHCL, we are honoured to be involved in this landmark building project, which will give Malta’s first power station a new life. Through this unique project CPHCL will play an instrumental role in preserving and revitalizing Malta’s industrial heritage, ensuring its sustainable future use. Moreover, the development of a boutique hotel will build on our legacy of over six decades’ experience in luxury hospitality and premium real estate development, to further enhance and contribute to the continued regeneration of the Grand Harbour, which is also in line with the Government plans to regenerate the wider area in a holistic manner.

Carl Attard, Managing Director, Attard Bros Group stated”This project fits perfectly with our mission of creating better spaces.  It represents a unique opportunity to restore and repurpose a historic landmark through high-quality construction and sensitive restoration techniques. Our focus is on delivering a structurally sound, technically robust redevelopment that respects the building’s original characteristics, while meeting modern standards of safety, performance and sustainability. We are proud to partner with CPHCL on a project that combines heritage conservation with sustainable development, one that will see the continued regeneration of the Grand Harbour area and deliver lasting value for Malta.”

Once completed, the development will add a new hospitality dimension to one of Malta’s most visited maritime destinations. Guests will enjoy a distinctive setting overlooking the Grand Harbour, while experiencing a carefully curated blend of heritage, comfort and contemporary hospitality.

The project is expected to contribute to the continued growth and diversification of Malta’s tourism product, while safeguarding an important chapter of the nation’s industrial and maritime history for future generations.

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The announcement was made during a press conference held at the offices of the Building and Construction Authority (BCA) by Minister for Justice and Reform of the Construction Sector Jonathan Attard, alongside BCA Chief Executive Officer Roderick Bonnici.

Under the scheme, individuals purchasing properties that meet sustainability standards will be eligible for grants ranging from €4,500 to €9,000, distributed over a three-year period. The initiative forms part of a broader set of government measures aimed at increasing home ownership while advancing environmental goals outlined in Malta’s Vision 2050 strategy.

Attard explained that the scheme aligns with national sustainability targets by incentivising investment in buildings that consume less energy. “Through this scheme, we are creating a direct incentive for citizens to invest in properties that adopt higher sustainability standards,” he said, noting that beneficiaries would enjoy lower energy bills and reduced environmental impact.

The scheme applies to properties purchased from 1 October 2025 and will remain open for applications until 30 September 2026. Buyers of “Net Zero” properties – homes that generate more energy than they consume – will receive €3,000 annually for three years, totalling €9,000. Meanwhile, buyers of properties that exceed European energy efficiency standards by at least 20% will receive €1,500 annually, amounting to €4,500 over the same period.

During the first year of the scheme, around 200 applications were submitted, with approximately €200,000 already disbursed as initial payments.

Attard also referenced other initiatives launched by the authority, including the “Irrinova Darek” scheme, which supports home renovations and was reintroduced earlier this year.

Bonnici outlined the application requirements, stating that applicants must submit the final property purchase contract along with the building’s Energy Performance Certificate based on its completed state, not design projections. He added that only one application per property and per individual will be accepted.

Bonnici highlighted the authority’s ongoing efforts to promote sustainable construction practices, noting that a dedicated unit has been established in recent years to ensure buildings meet European standards.

Also present at the press conference were BCA Chairman Simon Saliba and Permanent Secretary Johan Galea.

Further information about the scheme can be obtained through the authority’s helpline at 138.

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IHI, which currently owns 100% of the asset, will retain a 28 oer cent interest in the JV following completion and its subsidiary Corinthia Hotels Limited will continue to manage and operate the asset.

Corinthia Hotel Lisbon, the biggest five-star hotel in the city, just underwent a complete refurbishment to upgrade its 517 keys, 3,000 sqm award-winning spa, three restaurants to equally cater for business, leisure and MICE travellers.

The post Orion and Corinthia form joint venture to buy Corinthia Hotel Lisbon first appeared on The Malta Business Weekly.

This offer, for the sum of €2.5 million, is made in direct response to MIDI’s recent public announcement. It aligns with the clear national consensus articulated by the Prime Minister, who judiciously stated that turning the historic fort into a hotel would be “obscene”. Therefore, it is understood that the Government will exercise its right of veto to prevent this eventuality, Din l-Art Ħelwa said Tuesday.

MIDI plc announced that on 16 December it entered into a promise of sale agreement with J. Portelli Projects Ltd to sell the lease for Fort Tigne. The property forms part of the land granted by the Government of Malta to MIDI by title of temporary emphyteusis for 99 years in virtue of a public deed of the 15 June 2000.

The announcement sparked public outrage with Din l-Art Helwa immedialy saying it was prepared to match the terms of the deal. The Prime Minister is also on record stating that the Government is open to ideas for the repurposing of the fort. “Our offer is straightforward and serious,” Patrick Calleja, Executive President of Din l-Art Ħelwa, said on Tuesday.

“We are prepared to match the commercial agreement presently on the table but with one fundamental difference: our plan ensures Fort Tigné is preserved, restored and opened to the public. We are providing MIDI with a prudent path to fulfil its financial objective while resolving a matter of significant public concern. The nation regains a key historic asset and the controversy surrounding the site’s future is finally concluded. As suggested by the Prime Minister, Din l-Art Ħelwa is ready to collaborate with the Government and to present a conceptual proposal for Fort Tigné.”

Din l-Art Ħelwa’s proposal also guarantees that this Grade 1 scheduled fort, which forms part of Malta’s UNESCO Tentative List, will be rehabilitated exclusively for cultural, educational and community purposes for this and future generations. Din l-Art Ħelwa has called on MIDI to acknowledge the offer and to engage in discussions to take the matter forward.

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The MDA noted a “strong and encouraging” performance in Promise of Sale activity, saying that it confirms that the Maltese property market remains resilient.

“When comparing full year figures, the total number of promises of sale increased from 15,266 in 2024 to 16,636 in 2025, representing growth of 7%. Over the same period, the total value of promises of sale rose from €5.11 billion to almost €6 billion, an increase of €851 million or 17%.,” it said.

This level of activity clearly shows that Maltese and Gozitan families continue to view property as their preferred investment, the MDA said.

“Nearly €6 billion in promises of sales underlines continued confidence in property as a long term store of value, while also highlighting the importance of maintaining a market that is fair, balanced, and accessible to all participants.”

Commenting on these results, Michael Stivala, President of the Malta Development Association, said the figures confirm the central role the property sector continues to play in the Maltese economy. He added that the Association will keep pushing for reforms that strengthen long term industry sustainability, support responsible urban development, protect the green environment, reduce unnecessary red tape, and ensure a fair system for buyers, sellers, and investors. He also said that the Association is looking forward with confidence to a positive year ahead for the sector.

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This marks the second disposal announced by MIDI this month. Earlier, the company disclosed a separate agreement for the sale of Fort Tigné to Joseph Portelli for €2.5 million.

Under the latest agreements, MIDI and T14 Investments have committed to transfer the remaining term of the temporary emphyteusis over 11 commercial units underlying the Pjazza Blocks, as well as the building known as Unit T3. The properties are held under a 99-year temporary emphyteusis that commenced on 15 June 2000, following a public deed through which the land was granted to MIDI by the Government of Malta. As a result, the properties remain subject to their respective share of the annual ground rent payable to the government and to other conditions contained in the original emphyteutical deed.

The €10.2 million consideration is payable in accordance with the terms set out in the agreements, with the final balance due upon the signing of the final deed of sale. The transaction is subject to a number of conditions precedent, and failure to satisfy these conditions will result in the lapse of the agreements without obligation on either party. The promise of sale will remain valid until 30 April 2026.

MIDI stated that all the properties are currently leased to third-party tenants, with the exception of one unit used as the company’s sales office. The properties generate total annual rental income of approximately €657,000, which will cease once the final deed of sale is concluded and the assets are removed from the group’s portfolio.

The company also noted that the properties are hypothecated in favour of CSB Trustees & Fiduciaries Limited, acting as security trustee for MIDI’s €50 million bond, which matures in July 2026. MIDI said it intends to apply the net proceeds from the sale towards the redemption of this bond.

Notary Roderick Caruana has been appointed to register the promise of sale agreements with the Commissioner for Revenue. MIDI added that certain Capital Markets Rules do not apply to the transaction, which has been classified as a Class 1 transaction under the applicable regulations.

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The Property forms part of the land granted by the Government of Malta to MIDI by title of temporary emphyteusis for 99 years in virtue of a public deed of the 15 June 2000.

The deal includes Fort Tigne’, located at Tigne’ Point, Sliema and includes the surrounding grounds and a divided portion of land at basement level also at Tigne Point, referred to as an unloading bay, the announcement reads.

MIDI said that the consideration for the sale and acquisition of the Property is €2,500,000, payable in accordance with the terms of the agreement, with the final payment to be made on the final deed of sale.

“The Agreement is subject to a number of conditions precedent which need to be satisfied prior to the execution of a final deed of sale and transfer of the Property. In the event that these conditions are not satisfied, the Agreement will lapse and neither party will be bound to execute the final deed of sale.”

The Agreement shall remain valid and effective up to 30th April 2026.

MIDI said that no business is currently being carried on by, or through the use of the property.

“The property is currently not occupied by a tenant and hence no annual rental income is being received. Upon publication of the final deed of sale, the property will no longer from part of the company’s property portfolio and therefore no rental income will be received by the company in respect thereof. The company intends to apply the sale proceeds towards the redemption of the Company’s €50 million bond which is due in July 2026.”

The post MIDI to sell Fort Tigne lease to Joseph Portelli first appeared on The Malta Business Weekly.

The announcement was made at Villa Bighi by the Minister for Culture, Lands and Local Government, Owen Bonnici on Tuesday.

The project was made possible after people who lived there were evicted last month. A family lived in the fort for decades.

In his address, Minister Owen Bonnici stated that “Fort Binġemma holds great historical and cultural value, and through this transformation it will also become a symbol of how our heritage can be turned into a driver for scientific and educational growth. With this step, we are showing how Malta can place its historical identity as the foundation for a future of innovation and learning.”

In the absence of the Parliamentary Secretary for Youth, Research and Innovation Keith Azzopardi Tanti, the Chief Executive of Xjenza Malta, Silvio Scerri, remarked that, “This project represents a clear choice that our heritage should serve the public good, rather than remain idle or forgotten. Through Space Park Malta, we are creating a space where science and innovation meet education and families, thereby building a future founded on knowledge and opportunity. This is part of Malta Vision 2050, which looks towards a more resilient and competitive country in emerging sectors.”

Space Park Malta will be developed with full respect for the historical character of the fort, while offering modern infrastructure such as the Earth Observation Centre, which will use satellite data for maritime security, environmental monitoring, and land use. The park will also include a Research Observatory as well as a public observatory, giving students and families access to the skies through guided learning, as well as Esplora Space, which will form the heart of the park with exhibitions, school programmes, and outreach activities.

The project will also feature a public library: both digital and traditional media creation facilities, and collaborative spaces for learning and innovation. In addition, it will provide a dedicated environment for start-ups in the space sector, with the aim of nurturing a new economic ecosystem that connects entrepreneurship and science.

Sustainability will be an integral part of the design, with the use of solar energy, intelligent energy management systems, rainwater harvesting, public gardens and open spaces with indigenous planting, and lighting that preserves Malta’s night skies.

The transformation of Fort Binġemma into Space Park Malta symbolizes a national commitment to honour the past, enrich the present, and prepare for a future built on science, education, and innovation.

The post Fort Binġemma transferred to Xjenza Malta: Government launches Space Park Malta first appeared on The Malta Business Weekly.

In its paper, the NSO applies the residual method to estimate the value of land underlying dwellings in Malta from 1995 to 2024. “The residual approach is widely employed by many countries as a method for estimating the value of land underlying dwellings, primarily due to the high accessibility and availability of data derived from real estate transactions.”

The NSO said that this method offers a practical solution where direct land valuations are not separately recorded or are otherwise difficult to obtain.

“In essence, the residual approach involves determining the total market value of a property, the combined value of the land and the dwelling constructed upon it, and subsequently deducting the estimated value of the dwelling itself, based on the net capital stock of constructions, which excludes land at current prices, adjusted for depreciation and other relevant factors. The remaining value, after this deduction, is attributed to the underlying land at time.”

Dwelling prices from 2015 onwards were based on property transactions established on final deeds of sale and promise of sale agreements registered with the tax authority. Dwelling price data for the period from 1995 to 2014 were extrapolated using the Property Prices Index published by the Central Bank of Malta, which was based on advertised property prices, it said.  Published census results were used to estimate the required information on the dwelling stock.

The full explanation in terms of how the data was formulated is available on the National Statistics Office website.

The paper reads that townhouses consistently contributed the highest total dwelling value from 1995 up to 2019. “This reflects their deep-rooted presence in the Maltese housing stock, particularly in central and urban localities, and their strong demand among both local buyers and foreign investors seeking traditional or character properties. From 1995 to 2008, townhouses saw steady growth, briefly plateauing during the global financial crisis, from 2009 to 2012. Following this, values resumed an upward trend, albeit more modestly, until around 2019, when the rate of growth began to be outpaced by apartments and penthouses. This suggests that while townhouses retained high value, their relative market share began to diminish in the face of expanding apartment development and shifting demand toward more readily available housing formats.”

It reads that apartments and penthouses have shown a remarkably strong and accelerating growth, especially since 2013, overtaking townhouses in total value around 2019, reflecting a change in the composition of the dwelling stock. “The continued increase through the COVID-19 period (2020-2021) demonstrates the resilience of this sector, which benefited from sustained investment activity, housing incentives, and the evolution of the short-term rental market. By 2024, apartments and penthouses dominate with the highest total value, reflecting both high development volume and increased price per SQM.”

It also said that Maisonettes have maintained a steady upward trajectory throughout the period. While their total contribution to dwelling value is lower compared to townhouses and apartments, they have experienced consistent growth, particularly post-2014, it said. “On the other hand, villas, farmhouses, and bungalows are the smallest contributor in terms of total value throughout the period.”

The paper read that construction costs also grew steadily, rising from €3 billion to over €14 billion, largely influenced by inflation, regulatory changes, and increased building activity.

“Key ratios underscore the growing prominence of land in property value. The land-to-construction cost ratio rose from 155% to 504%, while the land-to-total value ratio peaked at 86% in 2021. Conversely, the share of construction costs in total dwelling value declined from 39% to 17%. These trends highlight land’s increasing dominance as the main driver of property value in Malta’s constrained geographical context. Despite data limitations and the need for interpolations, the residual approach provided a replicable and insightful framework for land valuation, supporting both statistical analysis and policy planning.”

“In the ESA 2010 transmission program, Member States are obliged to compile Land as part of the Balance sheets for non-financial assets for the Household and Non-Profit Institutions Serving Households. The derivation of land valuation underlying dwellings was the first step. The office will focus on the valuation of land related to agricultural holdings and other land owned by households in their function as employers and own-account workers.”

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