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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As of 1st January 2020, homeowners must register their lease contracts for primary residential purposes with the Housing Authority within ten days from the commencement of the lease. Find out how to carry out this process in a couple of easy steps below! This Act is relevant for lease contracts (for a primary residential purpose)…
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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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Do you have a soft spot for furniture, but also have some doubts about which style is right for you? Not to worry. Here’s a list of the most popular furniture styles which will send you in the right direction. 1. Modern Modernity is a concept which includes a precise style that aims to propose…
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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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In Malta, when a purchaser has decided on a property and the price has been verbally agreed, a legally binding agreement is drawn up by a Notary where both parties meet and sign it. This is known as the ‘Konvenju’ and is often referred to as a Promise of Sale or Preliminary Agreement. It is…
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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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