Malta residential property sales rise 34% in August

Malta’s residential property market experienced significant growth in August, according to data from the National Statistics Office. The number of final deeds of sale for residential property reached 1,367, marking a 33.8 per cent increase compared to August of the previous year. The total value of these transactions was €407.3 million, up 29.1 per cent year-on-year.

In addition to final deeds, 1,241 promise-of-sale agreements were registered, an 18.3 per cent increase over the same month last year. The combined value of these agreements totaled €452.6 million, representing a 15.6 per cent annual rise.

Transactions involving households accounted for 90.4 per cent of final deeds, with a combined value of €329.8 million. Geographically, St Paul’s Bay recorded the highest number of final deeds with 91 transactions, followed by Marsaskala with 75 and Birkirkara with 72. Among the properties transacted, apartments made up the largest share at 35.5 per cent, while garages accounted for 24.2 per cent.