Over €260 million in property changed hands in May

The value of property changing hands in May reached €267.2 million, spread over a total 1,225 transactions, according to the National Statistics Office (NSO).

In a new release, the NSO noted that although this is 51 more than was registered in May 2021, the total value of the transactions fell by 18.2 per cent.

The vast majority (91.8 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 €228.0 million, equivalent to 85.3 per cent of the total value.

The highest numbers of final deeds of sale were recorded in the two regions of Gozo, and Mellieha and St Paul’s Bay, at 182 and 150 respectively.

The lowest numbers of deeds were noted in the region of the Three Cities and the region of Mdina, Dingli, Rabat, Mtarfa and Mgarr. In these regions, 33 and 41 deeds were recorded respectively.

Promise of sale agreements

In May 2022, 1,126 promise of sale agreements relating to residential property were registered, equivalent to a 23.8 per cent decrease over the previous year. Individual potential buyers (households) accounted for 1,037, or 92.1 per cent, of these agreements, while the rest mainly involved companies.

The largest numbers of promise of sale agreements corresponded to residential properties situated in the two regions of Birkirkara, Gzira, Msida, Ta’ Xbiex and San Gwann, and Mellieha and St Paul’s Bay, totalling 145 and 142 respectively.

The lowest numbers were again noted in respect of properties located in the region of Birgu, Isla, Bormla and Kalkara (17 agreements), and the region of Attard, Balzan, Iklin and Lija (47 agreements).