Property sales in October were the highest since May but still down by 22.4% from October last year, NSO data showed on Thursday.  Promise of sale agreements were up by 2.3%.

The number of final deeds of sale for residential property amounted to 1,125, the highest since 1,302 deals in May. There were 1,225 promise of sale agreements.   

The value of the final deeds was €298.1 million, representing a decrease of 12.2% when compared to the corresponding value recorded in October 2022.

1,013 (or 90.0 per cent) of the final deeds of sale involved individual buyers (households), with companies accounting for virtually all the rest.

The highest numbers of final deeds of sale were in the Northern Harbour District and the Northern District at 329 and 215 deeds respectively, with property sales in St Paul's Bay leading at 83 followed by Birkirkara (53) and Marsascala (51).

Promise of sale agreements

In October 2023, 1,225 promise of sale agreements relating to residential property were registered,  an increase of 2.3 per cent over the previous year. Households accounted for 1,117 (or 91.2 per cent) of the agreements.

The largest number were in the Northern Harbour District with 352 agreements, followed by the Northern District with 237. 

The highest numbers of promise of sale agreements were recorded in St Paul's Bay,104, Mosta, 58 and Birkirkara, 53.