67% increase in promise-of-sale agreements on property

A total of 13,668 promise-of-sale agreements were signed in 2015, for a combined property value of €2,453,268,795.

This registers a 67% increase when compared to the 8,208 signed in 2008. The total property value was however at €1,081,740,328.

Information tabled in parliament by Finance Minister Edward Scicluna in reply to a question raised by PN MP Claudio Grech reveals a steady increase over the years, with a minor slowdown in 2011 and 2012. Then, 7,841 and 7,853 promise-of-sale agreements were registered respectively.

The total property value in 2011 and 2012 was marked to be over €1 billion and €1.3 billion respectively. In 2013, when promise-of-sale agreements reached 8,765, the value of the property registered stood at €1.2 billion.

The highest numbers were recorded in 2014 and 2015. For a collective property value of over €1.6 billion, 11,072 agreements were signed.