In October 2022, the number of final deeds of sale relating to residential property amounted to 1,404, a 21.3% increase when compared to those registered in the same month a year earlier. The value of these deeds reaches €320.6 million, 30.4% higher than the corresponding value recorded in October 2021.
Who is buying: During this month, 1,278, or 91.0% of these final deeds of sale involved individual buyers (households), with companies accounting for virtually all the rest. The value of the deeds involving individual buyers amounted to €269.9 million, equivalent to 84.2% of the total value.
Most traded: 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/Għawdex, and Birkirkara, Il-Gżira, L-Imsida, Ta’ Xbiex and San Ġwann, at 222 and 185 respectively.
Least traded: 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, Ħad-Dingli, Ir-Rabat, L-Imtarfa and L-Imġarr. In these regions, 27 and 45 deeds were recorded respectively.
Promise of Sale Agreements (Konvenji)
The ‘konvenju’ is a binding promise between the buyer and seller, formalizing their agreement to appear on a final deed of sale and purchase within the time-frame, price and conditions stipulated in it.
In October 2022, 1,199 promise of sale agreements relating to residential property were registered, equivalent to a 10% increase over the previous year. Individual potential buyers (households) accounted for 1,107, or 92.3%, of these agreements, while the rest mainly involved companies.
Most traded: The largest numbers of promise of sale agreements corresponded to residential properties situated in the two regions of Gozo/Għawdex, and Ħaż-Żabbar, Ix-Xgħajra, Iż-Żejtun, Birżebbuġa, Marsaskala and Marsaxlokk, totalling 157 and 155 respectively.
Least traded: 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, Ħad-Dingli, Ir-Rabat, L-Imtarfa and L-Imġarr. The first-mentioned region accounted for 26 agreements and the second accounted for 34 agreements.
Source: NSO 2022 / https://nso.gov.mt/en/News_Releases/Documents/2022/11/News2022_201.pdf
