Last Updated on Monday, 11 July, 2022 at 7:06 pm by Andre Camilleri
The number of final deeds of sale relating to residential property amounted to 1,169 during June 2022, data released by the National Statistics Office shows.
There was a decrease of 70 deeds when compared to those registered a year earlier, the NSO said.
During the same month, 1,088 promise of sale agreements relating to residential property were registered, which when compared with the same period the previous year saw a decrease of 77 agreements.
A decrease of 5.6 per cent was also registered for June 2022 when compared to the same period a year earlier in the number of final deeds of sale relating to residential property, which amounted to 1,169.
The value of these deeds totalled €274.4 million, 9.1 per cent higher than the corresponding value recorded in June 2021.
In the month under review, 1,083, or 92.6 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 amounted to €223.5 million, equivalent to 81.5 per cent of the total value.
In the second quarter of 2022 (April to June), 3,543 final deeds of sale were registered, an annual decrease of 1.5 per cent.
The value of the deeds registered during this period declined by 4.8 per cent over the same quarter of the previous year and amounted to €781.4 million.
The highest numbers of final deeds of sale were recorded in two regions of Gozo, and Żabbar, Xgħajra, Żejtun, Birżebbuġa, Marsaskala and Marsaxlokk, at 566 and 470 respectively.
The lowest numbers of deeds were noted in the region of Vittoriosa, Senglea, Cospicua and Kalkara, and the region of Imdina, Dingli, Rabat, Imtarfa and Imġarr. In these regions, 70 and 116 deeds were recorded respectively.
The highest annual increase was registered in Vittoriosa, Senglea, Cospicua and Kalkara region, at 66.7 per cent. The second highest increase was noted in the region of Żabbar, Xgħajra, Żejtun, Birżebbuġa, Marsaskala and Marsaxlokk, a 14.6 per cent rise compared to the previous year.
In contrast, the largest annual decreases were observed in the two regions of Luqa, Gudja, Għaxaq, Kirkop, Imqabba, Qrendi, Safi, Żurrieq, Mosta and In-Naxxar, with declines of 17.3 per cent and 16.3 per cent respectively.
Promise of sale agreements
During June, a total of 1,088 promise of sale agreements relating to residential property were registered, equivalent to a 6.6 per cent decrease over the previous year.
Individual potential buyers accounted for 988, or 90.8 per cent, of these agreements, while the rest mainly involved companies.
In the second quarter of 2022, the number of promise of sale agreements reached 3,232, representing an annual decrease of 20.6 per cent.
The largest numbers of promise of sale agreements corresponded to residential properties situated in the two regions of Mellieħa and San Pawl il-Baħar, and Gozo, totalling 420 and 403 respectively.
The lowest numbers were noted in respect of properties located in the region of Birgu, Isla, Bormla and Kalkara, Attard, Balzan, Iklin and Lija. The first-mentioned region accounted for 54 agreements and the second for 126 agreements.
The region of Imdina, Dingli, Rabat, Imtarfa and Imġarr saw the only annual increase in promise of sale agreements, with a 3.0 per cent rise.
On the other hand, the highest annual decreases were observed in the two regions in Gozo, Żabbar, Xgħajra, Żejtun, Birżebbuġa, Marsaskala and Marsaxlokk, which recorded declines of 38.3 per cent and 30.4 per cent respectively.