The government has announced that starting tomorrow, over 2,600 first-time buyers who purchased a property in 2022 will begin receiving the initial installment of a ten-year grant. Under the new scheme, which was a significant commitment made by the Labour Party during the previous year’s elections, buyers will receive €1,000 per year for a decade, totaling €10,000.
Social and Affordable Housing Minister Roderick Galdes disclosed this information on Wednesday, stating that the implementation of this measure will cost the government €26 million throughout the ten-year duration.
Galdes emphasised that the government has taken a comprehensive approach to investing in the housing sector, introducing various initiatives to enable more individuals to become homeowners.
Matthew Zerafa, the CEO of the Housing Authority, expressed his belief that this new scheme will shed light on the unique characteristics of these first-time buyers from Malta.
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