ATTENTION FIRST TIME BUYERS Government said it wants to help youths and young people buy their first homes, by applying a one-time concession - as demanded by the Malta Developers Association - on the removal of the 3.5% duty payable on the first €150,000 of the value of a house. That means they will have to pay only 5% duty on the value of the house above €150,000. The concession will apply for houses purchased both before and after 1 January 2014, but whose final contract will be executed within 2014. The measure is being intended as push for the property industry and to help first-time buyers save up to €5,250 on their first residence.
Posted on: Thu, 07 Nov 2013 09:56:03 +0000
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