First-time buyers who purchase vacant properties in Gozo or in UCA (Urban Conservation Areas) will receive €40,000 from the government, Finance Minister Clyde Caruana has just announced.

This sees a €10,000 rise from the previous sum that was given to first time buyers, which was set at €30,000. 

The focus on the sister island of Gozo comes amid increased interest in the picturesque island, and is meant to show support to young couples/new homeowners taking their first serious step into the property market.

This also comes as Malta is set to give out €350 million to subsidise electricity, water, fuel, cereals and animal feed next year. This year’s budget places a strong focus on subsidies, some set to be in place until 2026.