Value of property transactions drops 3.7% to €295 million in October

The value of the final deeds of sale signed in October amounted to €295.2 million, reflecting a decrease of 3.7 per cent when compared to the corresponding month in 2023.

Overall, according to the National Statistics Office (NSO) figures, in October 2024, the number of final deeds of sale relating to residential property amounted to 1,121, a decrease of 1.4 per cent when compared to those registered within the corresponding month of 2023.

In the month under review, 1,036 (or 92.4 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 €247.2 million, equivalent to 83.7 per cent of the total value.

The highest numbers of final deeds of sale were recorded in the Northern Harbour and the Northern districts, with totals of 319 and 226 deeds, respectively. On the other hand, the lowest numbers were registered in the Western, and the Gozo and Comino districts, at 102 and 131 deeds, respectively.

The highest numbers of final deeds of sale were recorded in the following localities: St Paul’s Bay (107), Birkirkara (64) and Żabbar (53). The sum of agreements recorded in these localities corresponded to 20 per cent of the total final deeds of sale registered during October 2024. 

During the month under review, the number of properties transacted in the final deeds of sale was equivalent to 1,203. Apartments (417) and garages (291) accounted for the largest shares, at 34.7 per cent and 24.2 per cent, respectively.

Promise of sale agreements increase by 5 per cent

In October 2024, 1,282 promise of sale agreements relating to residential property were registered, equivalent to an increase of five per cent over the same period in 2023. Individual potential buyers (households) accounted for 1,170 (or 91.3 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 374 agreements, followed by the Northern district with 253 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 128 and 151 agreements, respectively.

The highest numbers of promise of sale agreements were recorded in the following localities: St Paul’s Bay (101), Birkirkara (64) and Mosta (56). The sum of agreements recorded in these localities corresponded to 17.2 per cent of the total promise of sale agreements registered during October 2024.