
The Minister for Social and Affordable Accommodation, Roderick Galdes, has announced that applications for the First-Time Buyers Scheme are now open.
Encouraging first-time buyers—especially young people—to apply, Minister Galdes highlighted that the scheme provides €1,000 annually for ten years, amounting to a total of €10,000. Since its launch in 2023, 4,909 families have already benefitted, with eligible recipients set to receive another €1,000 payment in June. These beneficiaries purchased their homes through a home loan in 2022 or 2023, with half having already received their first payment and the rest receiving two instalments.
For last year, 2,644 families qualify for the scheme for the first time, with 64% having already applied. Minister Galdes urged those who have yet to submit their application to do so by the end of April through the Housing Authority to secure their first payment in June.
Last year, the government invested €4,694,000 into the scheme, bringing the total funding since its inception to over €7 million. Minister Galdes emphasised that every euro invested strengthens the purchasing power of Maltese and Gozitan families.
He also noted that the First-Time Buyers Scheme is just one of several initiatives supporting homeownership. A study by the Housing Authority found that another widely used scheme is the Grant for First Residence, which helps first-time buyers complete their homes by covering 15% of documented finishing costs, up to a maximum of €5,824.
Additionally, the study revealed that even excluding the First-Time Buyers Scheme, over two families per day received financial support through other government initiatives, enabling them to improve their purchasing power and enhance their housing conditions.
Minister Galdes concluded by reaffirming the government’s commitment to affordable, high-quality housing, ensuring that all families have access to dignified and suitable homes throughout their lives.
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