A total 1,003 final deeds of sale and 1,002 promise of sale agreements relating to residential property were registered with the tax authorities in December, registering an annual rate of change of -28.8% and -55.9% respectively, the National Statistics Office said.
Final deeds of sale
The NSO said that in December, the value of the final deeds totalled €225.1 million, 28.5% lower than in December 2021.
A total of 916 (91.3%) of the total final deeds of sale involved individual buyers (households), with companies accounting for virtually all the rest.
The value of the deeds involving individual buyers (households) amounted to €186.3 million, equivalent to 82.8% of the total value.
In the fourth quarter of 2022, 3,738 final deeds of sale were registered, an annual decrease of 4.1%.
The value of the deeds registered during this period went up by 0.1% over the same quarter of the previous year and amounted to €859.3 million.
The highest numbers of final deeds of sale were recorded in Gozo, and in the region comprising Birkirkara, Gżira, Msida, Ta’ Xbiex and San Ġwann, at 600 and 467, respectively.
The lowest numbers of deeds were in the regions comprising Vittoriosa, Senglea, Cospicual and Kalkara, and that comprising Attard, Balzan, Iklin and Lija. In these regions, 82 and 101 deeds were recorded, respectively.
Promise of sale agreements
When it came to promise of sale agreements, individual potential buyers (households) accounted for 901, or 89.9% of the total agreements, while the rest mainly involved companies.
In the fourth quarter of 2022, the number of promise of sale agreements reached 3,357, representing an annual decrease of 27.2%.
The largest number of promise of sale agreements corresponded to residential properties situated in the region comprising Birkirkara, Gżira, Msida, Ta’ Xbiex and San Ġwann, and Gozo, totalling 454 and 416, respectively.
The lowest numbers were noted in the regions comprising Vittoriosa, Senglea, Cospicua and Kalkara and that made up of Attard, Balzan, Iklin and Lija.
The first-mentioned region accounted for 83 agreements and the second for 107.
The region of Vittoriosa, Cospicua, Senglea and Kalkara saw the only annual increase in promise of sale agreements, with a rise of 3.8%.
The highest annual decreases were observed in the region comprising Attard, Balzan, Iklin and Lija, and Gozo, which recorded drops of 35.5% and 35.3%, respectively.