According to the latest data from the National Statistics Office, the number of final deeds of sale relating to residential property amounted to 1,017 in September, this was an increase of 43 deeds when compared to those registered last year.

During this period, the Gozo region recorded the highest number of final deeds of sale, with 502, the NSO said. Gozo region also had the second largest annual decrease in the number of deeds at 1.4%.

988 promise of sale agreements relating to residential property were registered during the same period, a decrease of 66 agreements over the same period last year.

In the third quarter of this year, the Gozo region recorded the largest number of promise of sale agreements corresponded to residential properties, with 515.

This information from the NSO presents provisional data on residential property sale transactions based on the date of registration with the tax authority.

In September 2021, the NSO noted that the number of final deeds of sale relating to residential property amounted to 1,017, a 4.4% increase when compared to those registered a year earlier. The value of these deeds totalled €252.2 million, 33.6% higher than the corresponding value recorded in September 2020.

In the month under review, 944, or 92.8%, of the total final deeds of sale involved individual buyers (households), with companies accounting for virtually all the rest. The NSO said that the value of the deeds involving individual buyers (households) amounted to €177.8 million, equivalent to 70.5% of the total value.

In the third quarter of this year, 3,564 final deeds of sale were registered, an annual increase of 16.4%. The value of the deeds registered during this period rose by 37.1% over the same quarter of the previous year and amounted to €788.8 million.

With regard to the region the property is situated in, the highest numbers of final deeds of sale were recorded in the two regions of Gozo and Il-Mellieha and San Pawl Il-Bahar, at 502 and 426 respectively.

The lowest numbers of deeds were noted in the region of Il-Birgu, L-Isla, Bormla and Il-Kalkara, and the region of L-Imdina, Had-Dingli, Ir-Rabat, L-Imtarfa and L-Imgarr. In these regions, 52 and 116 deeds were recorded respectively.

The highest annual increase was registered in the H’Attard, Hal Balzan, L-Iklin and Hal Lija region, at 90.0%. The second highest increase was noted in the region of Il-Mosta and In-Naxxar, a 55.2% rise compared to the previous year.

In contrast, the largest annual decreases were observed in the two regions of Il-Birgu, L-isla, Bormla and Il-Kalkara, and Gozo, with declines of 1.9% and 1.4% respectively.

Also in September, 988 promise of sale agreements relating to residential property were registered, equivalent to a 6.3% decrease over the previous year. Individual potential buyers (households) accounted for 911, or 92.2% of the total promise of sale agreements, while the rest mainly involved companies, the NSO said.

In the third quarter of 2021, the number of promise of sale agreements reached 2,984. This represents an annual decrease of 14.6%.

The largest numbers of promise of sale agreements corresponded to residential properties situated in the two regions of Gozo and Birkirkara, Il-Gzira, L-Imsida, Ta’ Xbiex and San Gwann, totalling 515 and 348 respectively.

The lowest numbers were noted in respect of properties located in the region of Il-Birgu, L-isla, Bormla and Il-Kalkara, and the region of L-Imdina, Had-Dingli, Ir-Rabat, L-Imtarfa and L-Imgarr. The first-mentioned region accounted for 45 agreements and the second for 93 agreements.

The region of Pembroke, San Giljan, Tas-Sliema, Is-Swieqi and Hal Gharghur saw the only annual increase in promise of sale agreements, with a 13.0% rise.

On the other hand, the largest annual decreases were observed in the two regions of Il-Mosta and In-Naxxar, and Hal Qormi, Haz-Zebbug and Is-Siggiewi, which recorded declines of 41.4% and 34.3% respectively, the NSO said.

Photo by Alain Salvary

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