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Promoting the conservation of older buildings A recent tax incentive has been published which exempts from property transfer tax and duty on the first €750,000 of the value of properties which: were built over 20 years ago and vacant for more than 7 years are located in an Urban Conservation Area (UCA) This exemption shall...
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Guidelines on Grants for the Restoration and Finishing of Privately Owned Residential Properties Guidelines on Grants for the Restoration and Finishing of Privately Owned Residential Properties The Ministry for Finance and Employment has launched the grant scheme for the restoration and finishing of privately owned residential properties. This scheme will reimburse eligible expenditure that is...
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New incentives for first-time buyers First-time buyers who purchase properties qualifying for the scheme above can also apply for a grant of €15,000 to help restore their home, while buyers of similar properties in Gozo will receive a grant of double the amount at €30,000. Moreover, current and prospective owners of qualifying properties may also...
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Updates on incentives for first-time buyers With effect from 09/06/2020, the exemption applicable to First time buyers (whereby they do not pay any duty on the first Eur200,000), is being amended in order to include also those persons who are already owners of a garage of not more than 30m2 and want to purchase their...
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Cash transaction limit Cash transactions exceeding Eur 10,000 in property (and other high-value purchases) shall be banned. This effectively means that a prospective buyer shall not be allowed to pay more than Eur 10,000 in cash when purchasing an immovable property. The move is intended to combat money laundering and tax evasion.
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