Residential Property Transactions Show Mixed Trends in July 2024

In July 2024, the residential property market experienced a decline in both final deeds of sale and promise of sale agreements. The total number of final deeds of sale reached 1,035, marking a slight decrease of 0.8% compared to the same month in 2023. The total value of these transactions amounted to €280.5 million, down by 2.2% from the previous year.

Individual buyers accounted for 92.2% of these final deeds, contributing €239.5 million, or 85.4% of the total value. Geographically, the Northern Harbour and Northern districts saw the highest activity, with 295 and 211 deeds respectively, while the Western and South Eastern districts recorded the lowest numbers.

The most active localities for final deeds were San Pawl Il-Baħar, Birkirkara, and Il-Mosta, which together represented 18.4% of the total transactions. In July, 1,115 properties were transacted, with apartments and garages being the most common types.

For promise of sale agreements, 1,063 were registered, a 1.9% decrease from the previous year. Similar to final deeds, individual buyers were predominant, making up 89.4% of the agreements. The Northern Harbour district led with 313 agreements, while the Gozo and Comino, and Western districts recorded the lowest numbers.

San Pawl Il-Baħar, Birkirkara, and Marsaskala were the top localities for promise of sale agreements, representing 21.1% of the total agreements.