The number of final residential property sales in July dropped by nearly 20% when compared to the same month in 2022, according to national data.

In a statement on Wednesday, the National Statistics Office said that in July, the number of final deeds of property sale and promise of sale agreements for residential property amounted to 1,024 and 1,085, respectively.

Compared to the same month in 2022, the final deeds of sale decreased by 19.2 per cent, while promise of sale agreements increased by 13.6 per cent. 

The figures published on Wednesday are based on provisional data of residential property sale transactions registered with the tax authority.

They reflect NSO figures for the previous month, which reported similar year-on-year drops in residential property transactions.

Final deeds of sale

In July 2023, the value of final deeds totalled €278.3 million, representing a decrease of 12.7 per cent when compared to the corresponding value recorded in July 2022.

In the month under review, 937 - or 91.5 per cent - of these deeds involved individual buyers (households), with companies accounting for virtually all the rest.

The value of the deeds involving individual buyers amounted to €206.9 million - equivalent to 74.3 per cent of the total value.

Final deeds of sale by district and by locality

In July, the highest numbers of final deeds of sale were recorded in the Northern Harbour District and the Northern District, registering a total of 293 and 205 deeds, respectively.

At 113 and 115 deeds, the lowest numbers were recorded in the Western District, and the Gozo and Comino District, respectively.