Property Transfer Tax Reduction Extended

Malta Property Tax & Regulations

17th October 2022

Property Transfer Tax Reduction Extended

In October of 2021, the Maltese Government announced new tax relief measures pertaining to the property market in Malta as well as extensions to previously implemented relief measures.

The relief measures were put in place as part of the government's COVID-19 recovery incentives to boost the private property market. One such measure was the reduction of stamp duty on the transfer of property.

This relief measure saw a reduced tax rate from 8% to 5%, and a slashed stamp duty rate from 5% to 1.5%, on the first €400,000 of a property's value.

The scheme was already extended once before back in September of 2021 and has now yet again been extended to the end of June 2023. This benefit is applicable on the condition that the promise of sale was entered into by 31 December 2021 and the notice of final deed reaches the Commissioner for Revenue by 31 October 2022.

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Malta Sotheby's International Realty

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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