More than 2,500 first-time buyers have applied for a €1,000 annual cash grant, Affordable Accommodation Minister Roderick Galdes said on Wednesday. 

All first-time buyers who bought a property since January 1, 2022 and obtained a loan for the purchase can apply to receive an annual €1,000 for 10 years. 

Their first grant payment will be issued in June.

Those who have yet to apply have until the end of May to do so. 

The measure was one of Labour’s key electoral pledges and was announced in last year’s Budget speech. 

Housing Minister Roderick Galdes on Wednesday. Photo: Chris Sant Fournier

In February, Prime Minister Robert Abela unveiled the details of the scheme, the main aim of which is to ease the burden many young first-time buyers face, especially at a time when they are also starting a career and family.

“We are aware that this grant will not cover all the expenses first-time buyers are facing, but we know it will make a difference and help them,” Galdes said. 

He said that although a large number of Maltese were homeowners, the Housing Authority is aware of the challenges the housing sector faces and continues to implement measures to make a difference in people's lives.

The authority had also received 750 applications for other schemes. 

‘Profile’ of Maltese first-time buyers

Speaking during the press conference, Housing Authority CEO Matthew Zerafa said the applicants will provide the authority data to understand the "profile" of a Maltese first-time buyer. 

“Since February, 2,555 first-time buyers - the majority of those who are applicable - have applied for this grant. We are just waiting for a few more,” he said. 

Zerafa said the applicants will provide the authority with the necessary data to understand the profile of a first-time buyer and identify the gaps in the sector. 

Applications can be filed through the authority's website or at the authority’s office in Floriana.