Residential property transactions in Malta surged in February 2024, with notable growth in St Paul’s Bay and surrounding areas.

In February 2024, there was a notable increase in residential property transactions in Malta. Final deeds of sale amounted to 1,012, marking a 7.8% increase compared to February 2023, totaling €262.7 million. These transactions were predominantly driven by individual buyers (92.9%) and were concentrated in the North of Malta. The top areas for transactions were San Pawl Il-Baħar, Il-Mellieħa, and Birkirkara. Together, these areas accounted for 16.9% of the total transactions in February 2024.

Promise of sale agreements surged by 12.7% from the previous year, primarily involving individual buyers (91.5%) and also focusing on the North of Malta. The top areas for promise of sale agreements were San Pawl Il-Baħar, Birkirkara, and Il-Fgura.

The transactions encompassed various property types, with apartments (35.2%) and garages (23.1%) being the most common. Overall, these figures suggest a robust real estate market in Malta, particularly in specific districts and localities.

On the other hand, the lowest figures of promise of sale agreements were noted in the Gozo, and the Western districts.