Gozo led the property market last month as final deeds of sale rose by 10% over January 2021, official figures issued on Monday show. Promise of sale agreements during the same month were down by a third.
No reasons for Gozo's popularity were given in a statement issued by the National Statistics Office, but the government has been offering favourable tax terms to boost property business on the sister island.
Final deeds of sale for residential property last month amounted to 1,114, a 10.4 per cent increase when compared to those registered in January 2020. The value of these deeds totalled €232.5 million, 11.1 per cent higher than the corresponding value recorded in January 2021.
1,032, or 92.6 per cent, of these 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 recorded in Gozo, followed by Mellieħa/St Paul's Bay at 200 and 124 respectively. The lowest numbers of deeds were in the Cottonera region, followed by the region grouping Mdina, Dingli, Rabat, Mtarfa and Mġarr at just 15 and 31 respectively.
664 promise of sale agreements relating to residential property were registered in January, 32.3 per cent down over the same period in 2021.
Individual potential buyers (households) accounted for 548, or 82.5 per cent. The largest number of agreements was for properties in Gozo followed by the region of Birkirkara, Gżira, Msida, Ta’ Xbiex and San Ġwann, totalling 109 and 91 respectively. The lowest numbers were noted in Cottonera and the region of Attard, Balzan, Iklin and Lija. The first accounted for six agreements and the second for 23 agreements.