Budget 2019: Proposed property schemes

The Government is working towards drawing up schemes which would be specifically addressing the needs of the 20% of the population who cannot afford to raise the 10 per cent deposit for their home loan.

What is being proposed?

Partit Nazzjonalista

  1. The First Time Buyers scheme is extended by another year
  2. A revision in the First Time Buyers scheme which would allow those who already own a garage to still be eligible to buy a property
  3. A development plan which would include high-rise buildings

Żminijietna

  1. Żminijietna proposed that the inequality that exists in the property market needs to be addressed, focusing especially on the needs of those who cannot afford to pay rent

Ministry for Family Affairs

  1. According to the Ministry, the Government would be announcing measures that which will help those families who do not own their residence

The Church’s Justice and Peace Commission

  1. A shared ownership housing scheme
  2. A government mortgage guarantee
  3. A deduction of the loan interest from taxes

The Inter-diocesan Environment Commission

  1. A national property study