First time buyers: Malta Property Tax Waiver Scheme Extended

MALTA, MALTA LUXURY REAL ESTATE NEWS, REAL ESTATE NEWS

12th May 2015

First time buyers: Malta Property Tax Waiver Scheme Extended
The Ministry of Finance has announced that as stated in the Budget, the first time property-buyers scheme will be extended until the end of June. Beneath this scheme, those buying their first property are exempted from the 3.5% stamp duty applicable on the first €150,000 of the property price. This means that the deadline for the promise of sale to be signed will be the 30th June whilst the deadline for the registration of final deeds has been extended to the 30th September, in order to avoid an amount of pressure on notaries’ office nearing the deadline of the scheme. The Ministry of Finance described the scheme as highly successful. Various stakeholders put forward a request for its extension and this further shows that it has been received very well. According to the Ministry this incentive has helped the Maltese property market and the economy gain momentum as well as helped young people acquire their first home.
For more information about buying property in Malta, please visit our real estate website or drop us a line on info@maltasothebysrealty.com. One of our agents will gladly assist you.
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Launched on the Maltese islands in 2013, Malta Sotheby's International Realty had one clear vision and goal in mind – to offer our clients the highest level of commitment and quality of service in the high-end residential and commercial real estate market throughout the Maltese Islands. We derive our success from local expertise, professionalism, commitment, and discretion to meet any client’s needs. We understand the importance of finding a home that not only suits your needs but suits your vision for the future – a place that facilitates comfort, creativity and familiarity. We realise that a home is much more than a place to live - it is a sanctuary from where we build families and dreams. Our real estate professionals will guide you towards finding your ideal home throughout the entire buying and selling process. The culture of Malta SIR is defined by our knowledgable and dedicated diverse team which spans over multiple nationalities, whether you are a vendor or a buyer we speak your language.

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