Gozo still Malta’s hottest property market… for now

Gozo registered the highest number of property sales over the third quarter of 2022, with over 100 more properties sold than in the region with the second highest number of sales.

Birkirkara, Gżira, Msida, Ta’ Xbiex, and San Ġwann saw 425 homes change hands between July and September of this year, whereas in Gozo the figure stood at 552.

During this period, 3,542 final deeds of sale were registered, an annual decrease of 1.5 per cent. The value of the deeds registered during this period increased by 2.4 per cent over the same quarter of the previous year and amounted to €826.1 million.

The lowest numbers of deeds were noted in the region of Birgu, Isla, Bormla and Kalkara, and the region of Attard, Balzan, Iklin and Lija. In these regions, 63 and 116 deeds were recorded respectively.

The former, however, also registered the highest annual increase, at 21.2 per cent. The second highest increase was noted in the region of Valletta, Floriana, Marsa, Ħamrun, Pietà and Santa Venera, a 15.1 per cent rise compared to the previous year.

In contrast, the largest annual decreases were observed in the two regions of Attard, Balzan, Iklin and Lija, and Luqa, Gudja, Għaxaq, Kirkop, Mqabba, Qrendi, Safi and Żurrieq, with declines of 32.2 per cent and 17.1 per cent respectively.

Over the three months, the number of promise of sale agreements reached 2,847, representing an annual decrease of 4.4 per cent.

Notably, Gozo’s reign as the hottest real estate market in the country may soon come to an end, as the region registered the highest decline in the number of promise of sale agreements registered, dropping by 26.6 per cent over the previous year.