Residential property sales remain level in May 2024

In May 2024, the number of final deeds of sale relating to residential property amounted to 1,077, a decrease of 0.6 per cent when compared to those registered in May 2023, according to new data released by the National Statistics Office.

The value of these deeds totalled €303.6 million, representing an increase of 15.9 per cent – more than than €40 million – when compared to the corresponding value recorded in May 2023.

In the month under review, 988 (or 91.7 per cent) of these final deeds of sale involved individual buyers (households), with companies accounting for virtually all remaining deeds.

The value of the deeds involving individual buyers (households) amounted to €235.6 million, equivalent to 77.6 per cent of the total value (Table 2b).

Final deeds of sale by district, locality and type

In May 2024, the highest numbers of final deeds of sale were recorded in the Northern Harbour and the Northern districts, with totals of 305 and 216 deeds, respectively.

On the other hand, the lowest numbers were registered in the Western and the South Eastern districts at 102 and 132 deeds, respectively.

The highest numbers of final deeds of sale were recorded in the following localities: St Paul’s Bay (86), Mosta (43) and Mellieħa (40). The sum of agreements recorded in these localities corresponded to 15.7 per cent of the total final deeds of sale registered during May 2024.

During the month under review, the number of properties transacted in the final deeds of sale was equivalent to 1,188.

Apartments (415) and garages (271) accounted for the largest shares, at 34.9 per cent and 22.8 per cent, respectively.

Promise of sale agreements

In May 2024, 1,256 promise of sale agreements relating to residential property were registered, equivalent to a decrease of 3.2 per cent over the same period in 2023.

Individual potential buyers (households) accounted for 1,135 (or 90.4 per cent) of these agreements, while the rest mainly involved companies.

The largest number of promise of sale agreements related to residential properties were registered in the Northern Harbour district with 364 agreements, followed by the Northern district with 270 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 109 and 112 agreements, respectively.

The highest numbers of promise of sale agreements were recorded in the following localities: St Paul’s Bay (110), Birkirkara (79) and Mosta (71).

The sum of agreements recorded in these localities corresponded to 20.7 per cent of the total promise of sale agreements registered during May 2024.