Another good month for the property market

Demand for property is strong in St Paul's Bay, Msida, Marsascala, Fgura, and Mosta.

In April, 1,139 contracts for the sale of residential property were signed, worth €307 million. This meant an increase of €41 million from the same month a year ago.

So far, 4,301 sales contracts have been signed during 2023. This is an increase of 271 contracts from last year. When looking at the value of the property purchased, it exceeded €1,142 million, or 6% more than last year. Thus, the average value per property decreased to around €265,000, compared to €267,000 a year earlier, a drop of around 1%.

The prospects for the property market remain very good, with 4,658 promise-of-sale agreements having been made so far so far this year, 12% more than a year earlier.  Demand for property is strong in St Paul’s Bay, Msida, Marsascala, Fgura, and Mosta.

Photo: Petar Avramoski

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