Malta's Real Estate Market Shows Growth with Increase in Promise of Sale Agreements in January 2023
The latest data on promise of sale agreements for residential properties in Malta shows a significant increase in the number of agreements registered in January 2023. A total of 921 promise of sale agreements were registered, indicating a 38.9% increase from the previous year.
Individual potential buyers (households) made up the majority of these agreements, accounting for 91.3% or 841 agreements, while the remaining agreements mainly involved companies.
In terms of promise of sale agreements by district, the Northern Harbour District had the highest number of agreements with 268, followed by the Northern District with 179. On the other hand, the Western District and the Gozo and Comino District had the lowest figures with 89 and 109 agreements, respectively.
Breaking down the data further, the clusters with the highest number of agreements were Cluster 4 (Il-Ħamrun, Tal-Pietà, Santa Venera, L-Imsida, Birkirkara, Ħal Qormi), recording 162 agreements, and Cluster 14 (Il-Mellieħa, San Pawl Il-Baħar, L-Imġarr) with a total of 107 agreements. The lowest numbers were recorded in Cluster 12 (Ħal Balzan, L-Iklin, Ħal Lija) and Cluster 1 (Valletta, Il-Furjana, Il-Marsa), with 16 and 19 agreements, respectively.
Overall, the January 2023 data for promise of sale agreements in Malta indicates a positive trend for the real estate market, with a significant increase in the number of agreements registered compared to the previous year.
The data for this post was obtained from the nso.gov.mt The complete report may be obtained here