More than 1,800 homeowners applied for a first-time buyers grant in 2023, Affordable Accommodation Minister Roderick Galdes said on Saturday.

The grant entitles first-time buyers to a €1,000 yearly grant for 10 years, totalling €10,000. 

Its 2023 applicants will receive their first €1,000 instalment in June, Galdes said. Homeowners who bought their first property in 2023 have until April to apply for the grant, he added. 

Promised by Labour as part of its electoral manifesto and now in its second year, the Housing Authority-administered grant seeks to help young people get on the property ladder.  

Take-up appears to have slowed down - in May 2023, Galdes said 2,500 people had applied for the grant in its first year of operation. 

Roderick Galdes, Matthew Zerafa and Emanuel Psaila. Photo: DOI/MSAARoderick Galdes, Matthew Zerafa and Emanuel Psaila. Photo: DOI/MSAA

Galdes said the grant helped keep Malta's home ownership ratio high, "which stands at 82% – among the highest in Europe.”

For more information on the grant click here.

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