On Friday 8th June, the Maltese government unveiled a multi-million post COVID-19 mini budget which saw several incentives to both buyers and sellers, in the recent announcement of the sorely awaited for government measures to assist both buyers and sellers in this sphere. The newly introduced measures will help stimulate the property market and those…
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The impact of COVID-19 on the world has been biblical to say the least. In the span of just a few months, normal life has been totally forgotten as the world tries to control the global pandemic. In all of this, Malta has arguably been the best at dealing with the virus. This, however, has…
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On the 14th October 2019, the Minister for Finance, Edward Scicluna presented the Budget for 2020. Amongst other sectors, the Budget included several property-related measures. Stamp duty exemption for first-time buyers The stamp duty exemption for first-time homebuyers has been raised to apply to the first €175,000 of a property, in contrast to the previous…
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Following a briefing by legal experts regarding the proposed rental reform during an information session organised by the Estate Agents Section (EAS), members of the Malta Developers Association Landlords Section found that both themselves and their tenants will end up being worse off. Due to this, the EAS has contributed further to the debate over…
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As of January 2020, a list of newly proposed rental regulations, which aim to seek stability in the sector, will be enforced. Prime Minister, Joseph Muscat announced a minimum period of one year, the introduction of minimum notice periods for landlords and tenants, and obligatory contract registration amongst other improvements, as a few reforms to…
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Co-founder of Island Properties, Cecil McCarthy sat down with iGaming Times to discuss the Maltese property market, together with its issues and a solution. Due to the mass migration of foreign industry to Malta over the last decade, the local property market has seen both a boom and inflation. Because of this, the value of…
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The government, together with APS Bank, have launched a new scheme in order to aid persons over the age of 40 in becoming homeowners. The Equity Sharing Scheme is a proposed measure from the 2019 budget which aims to provide affordable housing for those applicants who have a limited amount of assets and are unable…
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On 6th May 2019, HSBC invited Island Properties to attend their annual networking event for real estate agents. HSBC’s Head of Retail Banking and Wealth Management, Daniel Robinson began by explaining the changes that the bank has experienced over the past year. He stated that over the past year, HSBC’s improved products have lead to…
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Not quite… In recent studies on rental prices over Europe, Malta was seen to be situated in the middle region of the list. As one of Europe’s fastest growing economy the Maltese property market has been on the rise. This is mainly thanks to the Individual Investor Programme (IIP), introduced in the November 2013 budget,…
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As of 1 January 2019, the government introduced their new scheme worth €5 million with the aim of helping up to 1,800 families with low incomes in finding residential properties. This new residential scheme is part of the implementation of electoral and budgetary measures. This updated scheme aims to provide benefits in order to make…
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