Gozo dominates the property market in January

Gozo led the property market last month, with final deeds up 10% from January 2021, official figures showed on Monday. Pledges of promises to sell in the same month fell by a third.

No reason for Gozo’s popularity was given in a statement released by the Office for National Statistics, but the government has offered favorable tax terms to boost property activity on the sister island.

Last month, final deeds of sale for residential properties amounted to 1,114, an increase of 10.4% compared to those registered in January 2020. The value of these deeds amounted to 232.5 million euros, i.e. 11.1% more than the corresponding value recorded in January 2021.

1,032, or 92.6%, of these final deeds of sale concerned individual buyers (households), businesses representing almost all of the rest.

The highest number of final deeds of sale was recorded in Gozo, followed by Mellieħa/St Paul’s Bay with 200 and 124 respectively. Mdina, Dingli, Rabat, Mtarfa and Mġarr with only 15 and 31 respectively.

664 promises of sale relating to residential properties were recorded in January, a decrease of 32.3% compared to the same period in 2021.

Individual potential buyers (households) represented 548, or 82.5%. The highest number of deals were for properties in Gozo, followed by the Birkirkara area, Gżira, Msida, Ta’ Xbiex and San Ġwann, totaling 109 and 91 respectively. The lowest numbers were noted in Cottonera and the Attard, Balzan, Iklin and Lija region. The first had six chords and the second 23 chords.


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Penny D. Jackson