This news release presents provisional data on residential property sale transactions based on the date of registration with the tax authority.
Final deeds of sale
In October 2023, the number of final deeds of sale relating to residential property amounted to 1,125, a 22.4 per cent decrease when compared to the figure registered a year earlier (Table 1a, Chart 1). The value of these deeds totalled €298.1 million, representing a decrease of 12.2 per cent when compared to the corresponding value recorded in October 2022 (Table 2a).
In the month under review, 1,013 (or 90.0 per cent) of these final deeds of sale involved individual buyers (households), with companies accounting for virtually all the rest (Table 1b). The value of the deeds involving individual buyers (households) amounted to €236.1 million, equivalent to 79.2 per cent of the total value (Table 2b).
Final deeds of sale by district and by locality
In October 2023, the highest numbers of final deeds of sale were recorded in the Northern Harbour District and the Northern District, registering a total of 329 and 215 deeds, respectively. At 84 and 143 deeds, the lowest numbers were recorded in the Western District, and the Gozo and Comino District, respectively (Table 3).
Chart 1. Registered final deeds of sale and promise of sale agreements
Monthly
No Data Found
The highest numbers of final deeds of sale were recorded in the following localities: San Pawl Il-Baħar (83), Birkirkara (53) and Marsaskala (51) (Table 7, Chart 2a). The sum of agreements recorded in these localities corresponded to 16.6 per cent of the total final deeds of sale registered during October 2023.
Chart 2a. Localities registering the largest counts in October 2023
Final Deeds of Sale
No Data Found
Promise of sale agreements
In October 2023, 1,225 promise of sale agreements relating to residential property were registered, equivalent to an increase of 2.3 per cent over the previous year (Table 4a, Chart 1). Individual potential buyers (households) accounted for 1,117 (or 91.2 per cent) of these agreements, while the rest mainly involved companies (Table 4b).
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 352 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 Western District, and the South Eastern District, at 125 and 160 agreements, respectively (Table 5).
The highest numbers of promise of sale agreements were recorded in the following localities: San Pawl Il-Baħar (104), Il-Mosta (58) and Birkirkara (53) (Table 9, Chart 2b). The sum of agreements recorded in these localities corresponded to 17.6 per cent of the total promise of sale agreements registered during October 2023.
Chart 2b. Localities registering the largest counts in October 2023
Promise of Sale Agreements
No Data Found
Additional Tables and Charts
- The number of final deeds of sale relating to residential property amounted to 1,125 during October 2023, a decrease of 324 deeds when compared to those registered a year earlier.
- During October 2023, 1,225 promise of sale agreements relating to residential property were registered, an increase of 28 agreements over the same period last year.
- In relation to the amounts registered in 2022, the final deeds of sale decreased by 22.4 per cent, whereas promise of sale agreements increased by 2.3 per cent.
Methodological Notes
1. This news release presents data on property transactions based on final deeds of sale and promise of sale agreements (‘konvenji’) registered with the tax authority. The qualifier ‘period of registration’ common to the tables refers to such registration. Basing the data on the period when the final deed of sale or promise of sale agreement is registered with the tax authority, rather than when it is signed, is considered to produce more timely information.
2. The scope of this release follows the classification of the administrative data source, and includes only those transactions classified as ‘residential’ by the source. The data presented covers the following property types: airspace, boathouse, bungalow, farmhouse, flat/apartment, garage, garden, house, maisonette, penthouse, plot of land, semi-detached villa, terraced house, ‘terran’, urban tenement, and villa.
3. Excluded are transactions classified as ‘commercial’, comprising of business premises and warehouse/storeroom, and those classified as ‘other’, a category that incorporates car space, field, grave and redemption of ground rent, amongst others.
4. Therefore, deeds/agreements relating to land for residential purposes (‘plot of land’) are included, while those pertaining to land for non-residential purposes (‘field’) are not.
5. Only deeds/agreements relating to the sale of property, which also includes sale by auction (‘subasta’) and sale after assignment of rights, are considered. Therefore, donations and exchanges, amongst others, are not included.
6. In this news release, a promise of sale agreement is accounted for only once, and included at the time of registration with the tax authority. Therefore, if a promise of sale is extended to a later date, that record is excluded from the statistics presented in this news release.
7. In the light of notes 2, 3, 4, 5 and 6, this release must be viewed as a sub-set of all the property transactions and activities registered with the tax authority that take place during a given period.
8. In some cases, more than one property is listed under the same final deed of sale or promise of sale agreement. This release reports the number of registered final deeds of sale and promise of sale agreements, and not the number of properties falling under these deeds/agreements.
9. The residential property transactions considered are not limited to individuals (households), but may also involve other economic agents. Besides individuals, the administrative data source distinguishes between companies, authorities and bodies of persons.
10. The districts, clusters and localities referred to in this news release correspond to the location of the property which has been or shall be purchased, not to the place of residence of the buyer or seller.
11. To achieve consistency, the methodological concepts used are aligned to the extent possible with the House Price Index concepts.
12. Users are reminded of several factors which might inhibit comparability between data on final deeds of sale and promise of sale agreements. These differences include: a) the time lag between promise of sale agreements and final deeds of sale; b) certain property being sold without a promise of sale agreement; and c) some promise of sale agreements falling through before the final contract is signed.
13. Data is provisional and subject to revisions, which may arise following updates in the source data.
14. More information relating to this news release may be accessed at Classification of Localities by Cluster.
15. References to this news release are to be cited appropriately.
16. A detailed news release calendar is available online.
