There was a flurry of activity in the housing market at the end of 2023, with December seeing an increase in final deeds of sale and promise of sale agreements, with both up on November and the previous year.

One possible reason for this was the announcement in the budget of the elimination of the tax incentive for property buyers in Gozo on the stamp duty rate. With promise of sale agreements still eligible for the 2% rate if signed before the end of December, after which it was due to rise to 5% in line with the rest of the country.

However, under a last minute legal notice issued just before the deadline, the scheme was extended until the 31st of January.

167 final deeds of sale on residential property were registered in Gozo during December, this was up 39 on November, and up 30 on December 2022.

Data released today by the National Statistics Office today show that in the cluster of localities made up of Fontana, Gharb, Ghasri, Kercem, Munxar, Victoria, San Lawrenz, Sannat and Zebbug, there were 96 final deeds of sale, up by 20 on November, and up by 27 on December 2022.

While in the cluster of localities of Ghajnsielem and Comino, Nadur, Qala, Xaghra and Xewkija there were 71, this was up 19 on November and up by 3 on December 2022.

The NSO noted that promise of sale agreements in the Gozo and Comino District numbered 178, up by 41 agreements on November and by 91 on the same month in 2022.

In the cluster of localities made up of Fontana, Gharb, Ghasri, Kercem, Munxar, Victoria, San Lawrenz, Sannat and Zebbug, the promise of sale agreements totalled 90, up by 20 from November, and by 48 on 2022.

While in the cluster of localities of Ghajnsielem and Comino, Nadur, Qala, Xaghra and Xewkija, the figure was 88, up by 21 on November and by 43 on December 2022.

File photo: Gozo News/Alain Salvary

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