Immovable Property Measures
The Malta Budget 2025 has a number of measures related to Immovable Properties.
- Existing fiscal incentives applicable to buyers and sellers of properties which have been built for more than 20 years and have been vacant for more than 7 years, properties located in Urban Conservation Areas and other properties developed in terms of established criteria will be extended. These incentives cover exemptions from tax and from stamp duty on the 1st €750,000, VAT savings of a maximum of €54,000 on the 1st €300,000 in refurbishing expenses and a grant of €15,000 or €40,000 to first time buyers of such properties located in Malta and Gozo respectively.
- The succession tax on leased agricultural land has been removed as part of the reform in the agricultural sector.
- The Building and Construction Authority is expected to introduce initiatives targeted to low income earners who renovate their homes in an energy efficient manner.
- A new scheme will be introduced that will allow certain redemptions of temporary emphyteusis and an extension in the eligibility of such redemptions with the objective that more residential properties will be freehold.
- The Grant on First Residence (GFR) as well as reduction in stamp duty for first time and second time buyers will be extended for another year.
Want to know more?
Ruth Farrugia Tax Director - Birkirkara
Elaine Marie Debono Tax senior manager - Birkirkara
