In November 2023, the real estate market in Malta witnessed notable trends in both final deeds of sale and promise of sale agreements for residential properties.
Final deeds of sale numbered 1,001, reflecting a 22.6% decrease compared to the previous year. These transactions amounted to €256.8 million, marking a 16.2% reduction in value. Individual buyers constituted 92.9% of these deeds, accounting for €211.6 million.
Geographically, the Northern Harbour District and the Northern District recorded the highest numbers of final deeds of sale, while the Western District and Gozo and Comino District reported the lowest.
Key localities with substantial transactions included San Pawl Il-Baħar, Birkirkara, and L-Imsida, contributing to 19.1% of the total final deeds of sale.
Conversely, promise of sale agreements saw an increase of 6.7%, totalling 1,232 agreements in November 2023. Individual buyers dominated, constituting 89.4% of these agreements.
The Northern Harbour District and the Northern District registered the highest promise of sale agreements, with San Pawl Il-Baħar, Birkirkara, and Marsaskala leading in localities. The combined agreements in these locales represented 19.0% of the total promise of sale agreements.
Despite the variations, these figures provide insights into the dynamic residential property market in Malta during the specified period. Full NSO report here.
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