Property promises

The Labour Party is proposing a subsidy for first-time property buyers that would save them up to €15,500 (Lm6,600) in a mix of schemes. However, in an interview in Business Today (February 13), Labour leader Alfred Sant admitted that the schemes might...

The Labour Party is proposing a subsidy for first-time property buyers that would save them up to €15,500 (Lm6,600) in a mix of schemes.

However, in an interview in Business Today (February 13), Labour leader Alfred Sant admitted that the schemes might push property prices higher because first-time buyers would end up with more cash in hand.

It is also worth noting that the Lm5,000 grant the MLP is promising - being 10 per cent of Lm50,000 - is not a grant but a loan and must be paid back with interest as clearly outlined by Stefan Zrinzo on Xarabank (February 15).

So what exactly will first-time buyers gain by voting Labour?

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