According to the latest NSO statistics, the value of residential property transactions continued increasing in May, even though fewer final deeds and promise-of-sale agreements were registered compared to the same month last year.
The number of final deeds of sale relating to residential property amounted to 1,157 during May 2026, a decrease of 45 deeds, or 3.7%, when compared with May 2025. Despite the drop in the number of contracts, the value of final deeds still increased. The total value of final deeds reached €342.3 million in May 2026, compared with €331.2 million in May 2025. This represents an increase of €11.1 million, or around 3.4%. The average value per final deed also increased, rising from around €275,500 in May 2025 to around €295,900 in May 2026.
The same pattern repeats itself in promise-of-sale agreements, which are usually a forward-looking indicator for the property market. During May 2026, 1,316 promise-of-sale agreements relating to residential property were registered, a decrease of 61 agreements, or 4.4%, over the same month last year. However, the value of these agreements surged to €604 million. This is significantly higher than the €467.3 million registered in May 2025: an increase of €136.7 million, or around 29.3%.
This means that even though fewer promise-of-sale agreements were registered, the value of future residential property sales increased sharply. The average value per promise-of-sale agreement rose from around €339,400 in May 2025 to around €459,000 in May 2026.
This marks a change from the earlier months of the year, when both the number of transactions and their value were increasing. In February, final deeds and promise-of-sale agreements had both increased over the same month of 2025, while the overall value of sales also kept rising. In April, the NSO had also reported an increase in both final deeds and promise-of-sale agreements. Final deeds increased by 9.4% over April 2025, while promise-of-sale agreements increased by 6.1%.
May therefore shows a different picture. Volumes declined, but prices and transaction values went higher.
The figures also come after permits for new dwellings increased by 40.5% in the first quarter of 2026 with development and construction activity going even higher.
The property market in Malta shows clear signs of overheating and the value of properties keeps increasing relentlessly.
Newsroom
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