Malta: Slight increase in property sales in first three months of 2022, but promises of sale collapse

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In the first quarter of 2022, 3,373 final deeds of sale were registered, an annual increase of 2.9 per cent, the NSO said today. The value of the deeds registered during this period rose by 8.9 per cent over the same quarter of the previous year and amounted to €736.1 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 Għawdex, and Ħaż Żabbar, Ix-Xgħajra, Iż-Żejtun, Birżebbuġa, Marsaskala and Marsaxlokk, at 582 and 397 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, Ħad-Dingli, Ir-Rabat, L-Imtarfa and L-Imġarr. In these regions, 47 and 109 deeds were recorded respectively.

The highest annual increase was registered in the Ħ’Attard, Ħal Balzan, L-Iklin and Ħal Lija region, at 51.6 per cent. The second highest increase was noted in the region of Ħal Luqa, Il-Gudja, Ħal Għaxaq, Ħal Kirkop, L-Imqabba, Il-Qrendi, Ħal Safi and Iż-Żurrieq, a 34.8 per cent 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 Il-Mellieħa and San Pawl il-Baħar, with declines of 28.8 per cent and 18.1 per cent respectively.

Promise of sale agreements

In March 2022, 1,113 promise of sale agreements relating to residential property were registered, equivalent to a 32.5
per cent decrease over the previous year. Individual potential buyers (households) accounted for 1,024,
or 92.0 per cent, of these agreements, while the rest mainly involved companies.

In the first quarter of 2022, the number of promise of sale agreements reached 2,743 representing an
annual decrease of 31.0 per cent.

The largest numbers of promise of sale agreements corresponded to residential properties situated in the two regions of Għawdex, and Birkirkara, Il-Gżira, L-Imsida, Ta’ Xbiex and San Ġwann, totalling 378 and 356 respectively.

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