A total of 1,126 promise of sale agreements for residential property were registered in May, a decrease of 351 agreements over the same period last year, the NSO said on Friday.

Throughout May, however, the number of final deeds of sale relating to residential property amounted to 1,225 during the NSO said, marking an increase of 51 deeds when compared to those registered a year earlier.

According to the NSO, the decrease in the number promise of sale agreements was equivalent to a 23.8 per cent decrease over the previous year. Individual potential buyers (households) accounted for 1,037, or 92.1 per cent, of these agreements, while the rest mainly involved companies.

The largest numbers of promise of sale agreements corresponded to residential properties situated in Birkirkara, Gżira, Msida, Ta’ Xbiex and San Ġwann as well as Mellieħa and San Pawl Il-Baħar.

The lowest numbers were noted Birgu, Senglea, Cospicua and Kalkara as well as Attard, Balzan, Iklin and Lija.

Meanwhile, the number of final deeds of sale relating to residential property amounted to a 4.3 per cent increase when compared to those registered a year earlier.

The value of these deeds totalled €267.2 million, 18.2 per cent lower than the corresponding value recorded in May 2021.

In the month under review, 1,124, or 91.8 per cent, of these final deeds of sale involved individual buyers (households), with companies accounting for virtually all the rest, the NSO said.

The value of the deeds involving individual buyers (households) amounted to €228.0 million, equivalent to 85.3 per cent of the total value.