Property Purchase in the Malta Budget 2024

This year's Malta Budget has been announced! You can learn more on Malta Budget 2025 and its effect on the property market here.

The Malta Budget 2024 has introduced a number of property benefits and incentives, as well as extending the ones approved in last year's Malta Budget 2023 and the previous Malta Budget 2022.

Malta Budget 2024: Benefits for Property Purchases

This year's Malta Budget 2024 sees most of the benefits of last year's Malta Budget extended. Below is a list of the benefits that have been introduced and renewed in the Maltese Real Estate and Property sector:

EXTENDED: Reduced rate of the stamp duty for first time buyers (exempt from duty on the first 200,000 of the price of the property purchased)
EXTENDED: Current refund of duty that is paid on the first 86,000 of the value of the replacement property (applicable to second time buyers)
CANCELLED: The reduced stamp duty of 2 euro for every 100 for properties located in Gozo has been cancelled in this year's Malta Budget 2024
NEW: The current reduced rate for purchase of residential property in Gozo can only apply a for promise of sale agreements which is executed before the 31st December 2023.
EXTENDED: 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' – this was already extended from the Malta Budget 2022

Malta Budget 2024: Rent subsidies for businesses extended

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. This is in line with a series of Tax benefits for private property rented out as affordable housing, which is being renewed from last year's Malta Budget.
Interest free loans to people who buy a property of a maximum cost of €225k (increased by €50k) but who cannot afford to pay the 10% deposit.
Higher rent subsidy capping – it will go from €400 to €500 / month for one-bedroom dwellings, from €500 to €600 / month for two-bedroom dwellings, and from €600 to €700 / month for three-bedroom dwellings.

First Time Buyers Malta 2024

Below a list of benefits and incentives introduced by the Malta Budget 2024 for first time buyers (You can learn more about Malta First Buyers and stamp duty in our Guide)

EXTENDED: Eligible First time buyers will receive €10,000 cash grant over 10 years, as long as the property price does not exceed €500,000
EXTENDED: 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' – this was already extended from the Malta Budget 2022
NEW: Increase in the grant for Gozo. 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 will be increased to €40,000 compared to last year's €30,000 for Gozitan couples who buy such properties in Gozo.
EXTENDED: The stamp duty exemption for first time buyers (exemption on the first €200,000 of the consideration) has been extended

Second Time Buyers Malta 2024

Below a list of benefits and incentives introduced by the Malta Budget 2024 for second time buyers.

EXTENDED: 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)

Malta Budget 2024 and the Malta Real Estate

This year's Malta Budget will see most of the property incentives extended or adjusted, contributing to making Malta's estate and property market a stable investment for Maltese and foreign buyers.

Questions? Get in touch with us to learn more about the benefits introduce by the Malta Budget 2024 in the Real Estate market. Get in touch with our property advisors to learn more about property investment or browse around Arcus Malta Property section to find your dream home in Malta.

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