In February 2024, the number of final deeds of sale relating to residential property amounted to 1,012, a 7.8% increase when compared to those registered in February 2023, the National Statistics Office (NSO) said.
"The value of these deeds totalled €262.7 million, representing an increase of 5.4% when compared to the corresponding value recorded in February 2023."
In the month under review, 940 (or 92.9%) 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 €205.9 million, equivalent to 78.4% of the total value, the NSO said.
Final deeds of sale by district and by locality
In February 2024, the highest numbers of final deeds of sale were recorded in the Northern Harbour and the Northern districts, with totals of 285 and 186 deeds, respectively. On the other hand, the lowest numbers were registered in the Western, and the Gozo and Comino districts with 97 and 137 deeds, respectively.
The highest numbers of final deeds of sale were recorded in the following localities: St Paul's Bay (85), Mellieħa (44) and Birkirkara (42). The sum of agreements recorded in these localities corresponded to 16.9% of the total final deeds of sale registered during February 2024.
During the month under review, the number of properties transacted in the final deeds of sale was equivalent to 1,151. Apartments (405) and Garages (266) accounted for the largest shares, at 35.2% and 23.1%, respectively.
Promise of sale agreements
In February 2024, 1,164 promise of sale agreements relating to residential property were registered, equivalent to an increase of 12.7% over the same period in 2023, the NSO said. "Individual potential buyers (households) accounted for 1,065 (or 91.5%) of these agreements, while the rest mainly involved companies."
Promise of sale agreements by district and by locality
The largest number of promise of sale agreements related to residential properties were registered in the Northern Harbour district with 330 agreements, followed by the Northern district with 237 agreements. On the other hand, the lowest figures of promise of sale agreements were noted in the Gozo and Comino, and the Western districts, at 107 and 109 agreements, respectively.
The highest numbers of promise of sale agreements were recorded in the following localities: St Paul's Bay (93), Birkirkara (59) and Fgura (55). The sum of agreements recorded in these localities corresponded to 17.8% of the total promise of sale agreements registered during February 2024.