Residential property sales up 7.6% year-on-year

The number of final deeds of sale relating to residential property amounted to 1,134 in October 2021 – a 7.6 per cent increase over the same period last year, according to figures released by the National Statistics Office (NSO).

The value of these deeds totalled €239 million, 19 per cent more than 2020.

The vast majority of these deeds – 92.7 percent – involved individual buyers, with companies making up the rest. The value of the deeds involving individual buyers (households) amounted to €203.6 million, equivalent to 85.2 per cent of the total value.

The highest number of final deeds of sale – amounting to 162 – were recorded in Gozo, closely followed by Żabbar, Xgħajra, Żejtun, Birżebbuġa, Marsaskala and Marsaxlokk, which totalled 140.

The lowest numbers of deeds were recorded in the area of Birgu, Isla, Bormla and Kalkara (21), and the towns of Attard, Balzan, Iklin and Lija (35).

Meanwhile, promise-of-sale agreements related to residential properties decreased by 16.1 per cent compared to October 2020.