‘Urban Conservation Area Scheme‘ refers to three Government schemes intended to encourage individuals to acquire and preserve property in village cores across Malta and Gozo.
The first scheme is a relief to the vendor from paying tax and a relief to the purchaser from paying duty on the first €750,000 of the property’s value, with duty at 5% on the remainder, if any. This office guides prospective vendors and purchasers regarding this scheme since it is subject to certain conditions. This scheme does not apply to garages being acquired separately from a residence.
The second scheme is a grant by the Ministry for Finance of €15,000 in the case of UCA property acquired in Malta and €40,000 in the case of UCA property acquired in Gozo. This applies where the purchasers are first-time buyers. Applications for this grant are submitted directly to the Ministry for Finance.
The third scheme is a reimbursement by the Ministry of a percentage of the expenses incurred by owners of UCA property for restorations and finishes. Applications for this grant are submitted directly to the Ministry for Finance.
Ethan Brincat 