A Healthy Economy – A Future for Our Children: Schemes that have led to a family becoming a homeowner every two days
The Budget for next year showed that the Government continued to place the family and its needs at the heart of every decision it made, not least in the area of social and affordable housing.
During a press conference, Minister for Social and Affordable Housing Roderick Galdes focused on two main schemes that were given a boost by the Budget: the First-Time Buyers scheme and the Equity Sharing scheme.
Minister Galdes said that the First-Time Buyers scheme – which was introduced two years ago – has already seen more than 7,000 people benefit from it and between them they have already received around €7 million. The scheme envisages the Government giving a grant of €10,000, spread over 10 years, to be paid at a rate of one thousand euros per year, to those who are buying their first property.
The Minister also referred to fiscal incentives that are already in place such as the exemption on stamp duty for first-time buyers. There are also special grants, of €15 thousand for property in Malta and of €40 thousand in Gozo for first-time buyers who buy a place in an urban conservation area, an old and vacant house and other buildings. With this Budget, those who will buy non-residential property, such as a garage, will no longer be disqualified from the first-time buyers scheme.
Regarding the Equity Sharing scheme, Minister Galdes said that since it was introduced in 2019, more than 380 people have benefited with more than €20 million to become homeowners. He said that thanks to the measure announced in the 2026 Budget, the scheme has been extended and will now be eligible for those aged 25 and over, including separated persons. The Government has also increased the threshold to €300,000 for separated persons who want to buy a matrimonial home.
The Equity Sharing scheme is for people who, although they qualify for a bank loan to buy their own home, do not have enough capital to buy. This is where the Housing Authority comes in and makes up for half of the sale capital. After twenty years, the applicant will have to buy the Authority’s share not at the current market price but at the original price when the property was purchased.
Minister Galdes said that these measures have led to a family becoming homeowners every two days over the last five years. He said that the Government’s goal remains that everyone has access to safe, dignified and affordable housing.
For his part, Parliamentary Secretary for Youth, Research and Innovation Keith Azzopardi Tanti said that this Budget is a clear reflection of a Government that listens and responds with concrete measures to the needs of young people. He maintained that Budget 2026 continues to build on the vision that young people should be in a position to start their lives independently and with dignity, not only through financial support, but through a broader vision that looks at jobs, research, and their well-being.
“Hardworking young people who dream need a Government that believes in them and that offers them the tools to take the first step. That is why today we have concrete measures that make buying a first property more possible such as the Equity Sharing scheme, now extended to those aged 25 and over and the 10% deposit scheme on a home loan, now with a limit of €250,000,” reiterated the Parliamentary Secretary.
Parliamentary Secretary Azzopardi Tanti added that this package of measures strengthens the opportunity for more young people and couples to become homeowners. He went on to say that these measures go beyond financial assistance alone, as they constitute a clear vision for a country where the possibility of becoming a homeowner is not a privilege of a few, but a right for all.
The Parliamentary Secretary also mentioned other measures in the Budget that continue to strengthen the younger generation such as the 15% increase in stipends, equivalent to €6 million per year in the pockets of young people; the free gym scheme for young people between the ages of 16 and 21. He also referred to the €3.3 million investment in the Cancer Research & Innovation Hub Malta and a new €1.5 million per year programme under Science Malta to strengthen collaboration between research, industry and the public sector.
“At the heart of all of this is one principle: a country with a strong economy that offers a future for its children. And we are building this future today,” concluded Parliamentary Secretary Keith Azzopardi Tanti.
