First-Time Buyer Schemes

‘First-time Buyer Scheme‘ refers to three Government schemes intended to assist individuals acquiring their first residence.

The first scheme is a relief from paying duty on the first €200,000 of the property’s value, with duty at 5% on the remainder, if any. This office guides prospective purchasers regarding this scheme since it is subject to certain conditions.

The second scheme is a grant of €10,000 by the Housing Authority, paid in annual instalments of €1,000 over 10 years. This applies where the purchasers are acquiring the property with a bank loan. Applications for this grant are submitted directly to the Housing Authority.

The third scheme is a grant by the Ministry for Finance in the case of property in an urban conservation area (UCA) acquired by first-time buyers. The grant is of €15,000 in the case of property acquired in Malta and €40,000 in the case of UCA property acquired in Gozo. Applications for this grant are submitted directly to the Ministry for Finance.