€10,000 grant for First-Time-Buyers

Investing Malta and Gozo Real Estate
€10,000 grant for First-Time-Buyers

Home owners who purchased their first property since January 2022, may apply for a €10,000 cash grant from the Government, which will be paid in €1,000 annual installments over the following ten year period.

To benefit from the scheme, first-time buyers must be financing their purchase from a home loan with any local bank as the grant money will be paid directly to the buyer’s account, or joint account in the case of a couple. The grant will be reduced to €500 per year when only one person in a couple is a first-time buyer.

Those who purchased their first property since January 2022 must apply no later than May 31, 2023 and their first grant payment will be issued by June 2023. First-time buyers who purchased their property and signed their contract in 2023 are to apply by end March 2024 and their first grant payment will be issued in June 2024.

Applications can be filed through the Housing Authority website or by visiting the authority’s offices in Floriana. Applicants need to submit bank loan statements as proof that they have an outstanding home loan at application stage and every subsequent year between January and March, throughout the full 10-year term of the scheme. Those who sell their property or settle their loan in full will stop receiving annual €1,000 grant payments. Applicants must be aged over 18, unless suffering from a disability.

Speaking at the launch of the scheme, Prime minister Robert Abela said that in the first year alone, some 3,000 first-time buyers are expected to benefit from the grant, costing the Maltese economy a total €3 million.

Read the full terms and conditions here.
Download the Application form here.
Apply online here.

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Alliance is a newly formed real estate agency brand that is being built on the existent network of strategically located offices around Malta, and the wealth of knowledge, professional experience and strong personal relationships of its founding partners.

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