€280.5 million worth of property exchanges hands in July – NSO

In July 2024, the number of final deeds of sale and promise of sale agreements relating to residential property amounted to 1,035 and 1,063, respectively, the NSO said Friday.

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 July 2024, the number of final deeds of sale relating to residential property amounted to 1,035, a decrease of 0.8 per cent when compared to those registered in July 2023. The value of these deeds totalled €280.5 million, representing a decrease of 2.2 per cent when compared to the corresponding value recorded in July 2023.

In the month under review, 954 (or 92.2 per cent) of these final deeds of sale involved individual buyers (households), with companies accounting for virtually all remaining deeds. The value of the deeds involving individual buyers (households) amounted to €239.5 million, equivalent to 85.4 per cent of the total value.

In July 2024, the highest numbers of final deeds of sale were recorded in the Northern Harbour and the Northern districts, with totals of 295 and 211 deeds, respectively. On the other hand, the lowest numbers were registered in the Western and the South Eastern districts at 93 and 125 deeds, respectively.

The highest numbers of final deeds of sale were recorded in the following localities: St Paul’s Bay (102), Birkirkara (48) and Mosta (40). The sum of agreements recorded in these localities corresponded to 18.4 per cent of the total final deeds of sale registered during July 2024.

During the month under review, the number of properties transacted in the final deeds of sale was equivalent to 1,115. Apartments (408) and Garages (246) accounted for the largest shares, at 36.6 per cent and 22.1 per cent, respectively.

Promise of sale agreements

In July 2024, 1,063 promise of sale agreements relating to residential property were registered, equivalent to a decrease of 1.9 per cent over the same period in 2023. Individual potential buyers (households) accounted for 950 (or 89.4 per cent) of these agreements, while the rest mainly involved companies.

The largest number of promise of sale agreements related to residential properties were registered in the Northern Harbour district with 313 agreements, followed by the Northern district with 227 agreements. On the other hand, the lowest figures of promise of sale agreements were noted in the Gozo and Comino, and the Western districts, at 106 and 111 agreements, respectively.

The highest numbers of promise of sale agreements were recorded in the following localities: San Pawl Il-Baħar (114), Birkirkara (62) and Marsaskala (48). The sum of agreements recorded in these localities corresponded to 21.1 per cent of the total promise of sale agreements registered during July 2024.