We’re bringing you the highlights from the government’s budget plan for 2025 related to property.
- A new scheme will be introduced to allow the redemption of temporary emphyteusis, expanding eligibility criteria beyond those of current and previous schemes.
?All other schemes and incentives remain in force:
- Schemes for first and second-time property buyers paying lower stamp duty rates to remain in place. The stamp duty exemption for first-time buyers (exemption from stamp duty on the first €200,000 of the consideration) and for second-time buyers (refund of duty paid on the first €86,000 of the value of the replacement property, or the first €150,000 in the case of persons with disability or guardians of persons with disability)
- The first-time buyer scheme, which gives buyers €1,000 yearly for ten years, is to be extended.
- Capital gains and stamp duty exemptions are to remain in place for properties that: were constructed more than 20 years ago and have been vacant for more than 7 years; or are situated in an Urban Conservation Area; or constructed and finished according to guidelines on quality and aesthetics.
First-time buyers buying such properties will receive a grant of €40,000 if the property is located in Gozo and €15,000 if the property is located in Malta
- Couples and single property buyers will enjoy the same amount of VAT refund when buying or fixing up their first property (up to a maximum of €54,000 on the first €300,000)
To learn more reach out to us by calling on 21490681 or send us an email at [email protected]
