Fewer final deeds of sale, more promise of sale agreements in July 2023 compared to previous year

Fewer completed deeds of sale were recorded in July 2023 compared to the previous year, while there was an increase in the number of promise of sale agreements recorded.

Data published Wednesday by the National Statistics Offices shows that the number of final deeds of sale recorded in July 2023 was 1,024, which is a 19.2% decrease when compared to the final deeds of sale in July 2022. The value of these deeds totalled €278.3 million, which represents a decrease of 12.7% when compared to the corresponding value recorded a year earlier.

Of these deeds, 937 or 91.5% of them involved individual buyers, with companies amounting to the rest.

The highest number of final sale deeds was recorded in the Northern Harbour District and the Northern District, registering 293 and 205 deeds respectively. The lowest deeds were recorded in the Western District and the Gozo and Comino Districts, registering 113 and 115, respectively.

The localities of St Pauls Bay, Mosta, and Birkirkara saw the most final deeds of sale, with 88, 54, and 47 recorded respectively. The combined number of agreements in these areas made up 18.5% of all the final deeds of sale documented in July 2023.

With regard to the promise of sale agreements, the number of promise of sale agreements recorded in July 2023 was 1,085, which is a 13.6% increase when compared to the promise of sale agreements in July 2022.

The Northern Harbour District registered the largest number of agreements with 366. This was followed by the Northern District with 195 agreements.

The Western District and the Gozo and Comino Districts displayed the lowest counts of promise of sale agreements, with 100 and 122 agreements respectively.

The most promise of sale agreements was documented in the subsequent areas: St Pauls Bay (88), Msida (58), and Sliema (54). The combined tally from these regions accounted for 18.4% of all promise of sale agreements officially recorded in July 2023.