Property Purchase in the Malta Budget 2022

The Malta Budget 2022 has introduced several property benefits and incentives.

Malta Budget 2022: Benefits for Property purchases

No capital gains tax or stamp duty on the purchase of properties that are more than 20 years old and have been vacant for seven years or more, in UCAs or built in the 'traditional style'.
First-time buyers of such properties will also receive a grant of €15,000. That grant rises to €30,000 for Gozitan couples who buy such properties in Gozo. (Learn more about Malta First Buyers and stamp duty in our Guide)
People who renovate these properties will get a refund of VAT up to €54,000 on the first €300,000 spent on renovation works
Existing schemes for first-time and second-time buyers and those buying a property in Gozo will be extended for another year

Malta Budget 2022: Rent subsidies for businesses extended

Tax due on the first €200,000 of the value of properties bought or sold and rented for at least 10 years to tenants eligible for the rent benefit given by the Housing Authority will be halved
Schemes to help home ownership for the disadvantaged extended as well as €300,000 to church's Foundation for Affordable Housing
Pre-1995 rent housing valued at up to €250,000 that needs structural repairs will eligible for subsidies of up to €25,000
Tax benefits for private property rented out as affordable housing

First Time Buyers Malta 2022

As mentioned above, first-time buyers will receive a grant of €15,000 for purchase of properties that are more than 20 years old and have been vacant for seven years or more, in UCAs or built in the 'traditional style'.That grant rises to €30,000 for Gozitan couples who buy such properties in Gozo.
Moreover, no capital gains tax or stamp duty applies for those purchases
Indeed, the stamp duty exemption for first time buyers (exemption on the first €200,000 of the consideration) has been extended

Second Time Buyers Malta 2022

Extension of the stamp duty exemption for second time buyers (refund of duty paid on the first €86,000 of the value of the replacement property, or the first €150,000 in the case of people with disability or guardians of people with disability)
Extension of the stamp duty esemption for purchase of a property located in Gozo (rate of duty of €2 for every €100 or part thereof with respect to transfers inter vivos of residential property situated in Gozo)

Malta Budget 2022 and Real Estate

Get in touch with us to learn more about the new incentives introduced by the Malta Budget 2022 in the Real Estate sector. Speak to our property advisors to learn more about property investment or browse around Arcus Malta Property section to find your dream home in Malta.

Back