Final deeds of property sale decrease by 22.4 per cent in October, NSO says

In October 2023, the number of final deeds of sale and promise of sale agreements relating to residential property amounted to 1,125 and 1,225, respectively. In relation to the amounts registered in 2022, the final deeds of sale decreased by 22.4 per cent, whereas promise of sale agreements increased by 2.3 per cent, the NSO said Thursday.

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 October 2023, the number of final deeds of sale relating to residential property amounted to 1,125, a 22.4 per cent decrease when compared to the figure registered a year earlier. The value of these deeds totalled €298.1 million, representing a decrease of 12.2 per cent when compared to the corresponding value recorded in October 2022.

In the month under review, 1,013 (or 90.0 per cent) of these final deeds of sale involved individual buyers (households), with companies accounting for virtually all the rest. The value of the deeds involving individual buyers (households) amounted to €236.1 million, equivalent to 79.2 per cent of the total value.

In October 2023, the highest numbers of final deeds of sale were recorded in the Northern Harbour District and the Northern District, registering a total of 329 and 215 deeds, respectively. At 84 and 143 deeds, the lowest numbers were recorded in the Western District, and the Gozo and Comino District, respectively.

The highest numbers of final deeds of sale were recorded in the following localities: St Paul’s Bay (83), Birkirkara (53) and Marsaskala (51). The sum of agreements recorded in these localities corresponded to 16.6 per cent of the total final deeds of sale registered during October 2023.

Promise of sale agreements

In October 2023, 1,225 promise of sale agreements relating to residential property were registered, equivalent to an increase of 2.3 per cent over the previous year. Individual potential buyers (households) accounted for 1,117 (or 91.2 per cent) of these agreements, while the rest mainly involved companies.

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 352 agreements, followed by the Northern District with 237 agreements. On the other hand, the lowest figures of promise of sale agreements were noted in the Western District, and the South Eastern District, at 125 and 160 agreements, respectively.

The highest numbers of promise of sale agreements were recorded in the following localities: St Paul’s Bay (104), Mosta (58) and Birkirkara (53). The sum of agreements recorded in these localities corresponded to 17.6 per cent of the total promise of sale agreements registered during October 2023.

More information here