April property sales up by 23%

The number of residential property transactions in April 2024 reached 1,139, a 22.6 per cent increase over the number changing hands a year prior.

The total value transacted was €306.6 million, 15.3 per cent more than the value of the deeds recorded in April 2023, according to the National Statistics Office (NSO).

The highest numbers of final deeds of sale were recorded in the Northern Harbour and the Northern districts, with totals of 313 and 211 deeds, respectively. On the other hand, the lowest numbers were registered in the Western, and the Gozo and Comino districts at 114 and 145 deeds, respectively.

The highest numbers of final deeds of sale were recorded in the following localities: St Paul’s Bay (85), Birkirkara (60) and Mosta (48).

The sum of agreements recorded in these localities corresponded to 16.9 per cent of the total final deeds of sale registered during April 2024.

During the month under review, the number of properties transacted in the final deeds of sale was equivalent to 1,197. Apartments (460) and garages (267) accounted for the largest shares, at 38.4 per cent and 22.3 per cent, respectively.

Promise of sale agreements

In April 2024, 1,157 promise of sale agreements relating to residential property were registered, equivalent to an increase of 9.2 per cent over the same period in 2023. This figure contrasts with that provided by the Malta Development Association, which said that 1,385 promise of sale agreements were signed during the month.

The largest number of promise of sale agreements, in the NSO’s statistics, related to residential properties were registered in the Northern Harbour district with 305 agreements, followed by the Southern Harbour district with 213 agreements.

On the other hand, the lowest figures of promise of sale agreements were noted in the Western, and the Gozo and Comino districts, at 111 and 132 agreements, respectively.

The highest numbers of promise of sale agreements were recorded in the following localities: St Paul’s Bay (96), Birkirkara (61) and Mosta (60).

The sum of agreements recorded in these localities corresponded to 18.8 per cent of the total promise of sale agreements registered during April 2024.