Official figures released yesterday from the National Statistics Office indicate the residential property market in Malta continued to show robust activity in December 2024, with final deeds of sale rising compared to the same month in 2023.
Promise of sale agreements remained stable, reflecting sustained interest in the property sector despite a slight year-on-year dip. According to provisional data from tax authority registrations, the number of final deeds of sale for residential properties reached 1,113, a 6.1% increase compared to December 2023. The total value of these transactions surged by 22.6%, reaching €350.5 million, signaling both strong demand and higher property values.
Households lead the market
Individual buyers (households) dominated the market, accounting for 997 deeds, or 89.6%, of the total. These transactions were valued at €252.0 million, representing 71.9% of the total transaction value.
Regional and local trends
The Northern Harbour district led the way with 275 final deeds, followed by the Northern district with 217 deeds. Conversely, the Western district (91 deeds) and Gozo and Comino district (146 deeds) recorded the fewest transactions.
Popular localities included San Pawl Il-Baħar, which topped the list with 85 final deeds, followed by Birkirkara (62) and Il-Mosta (49). Together, these three localities accounted for 17.6% of all final deeds of sale in December.
Property types
A total of 1,249 properties were transacted in December, with apartments (416) and garages (296) being the most popular property types.
Q4 results show continued growth
For the fourth quarter of 2024, 3,240 final deeds of sale were registered, a 1.2% increase over Q4/2023. The value of these transactions climbed by 11.1% to €951.2 million. Localities such as San Pawl Il-Baħar (266 deeds), Birkirkara (191), and Marsaskala (145) were among the most active in the quarter.
Promise of sale agreements decline slightly
December also saw 1,044 promise of sale agreements registered, reflecting a 0.7% decrease compared to December 2023. Households accounted for the majority, with 930 agreements (89.1%).
The Northern Harbour district once again took the lead with 347 agreements, followed by the Northern district with 186 agreements. Localities with the highest activity included San Pawl Il-Baħar (74 agreements), Birkirkara (70), and Marsaskala (58), which together represented 19.3% of all agreements.
Q4/2024 promise of sale agreements
In the fourth quarter of 2024, 3,491 promise of sale agreements were registered, showing a marginal 0.3% decline year-on-year. San Pawl Il-Baħar (257 agreements), Birkirkara (186), and Marsaskala (157) emerged as the most sought-after localities for potential buyers.
With property values rising and transaction volumes remaining strong, December’s data underscores the resilience of Malta’s real estate market. Popular localities like San Pawl Il-Baħar, Birkirkara, and Marsaskala continue to attract buyers, reflecting their enduring appeal in a competitive market.
