This exemption applies on the first €750,000 of the price on properties which are as the below:
- Were built more than 200 years ago and have been vacant for more than 7 years.
- Are built in an UCA.
- Are new properties and are built in a traditional Maltese architecture and style.
- Applies to qualifying properties in respect where a promise of sale hs already been entered into as long as the final contract has not yet been signed.
- First time buyers buying qualifying properties will receive a grant of €15,000 increased to €30,000 in respect of properties situated in Gozo.
- Persons who will own or who already own qualifying properties may benefit from a VAT refund of up to €54,000 on the first €300,000 on expenses for the restoration and improvement.
These measures are effective as from 12th October 2021 and for a period of 3 years.