Assistance for persons with disabilities to increase to €20,000
Minister for Accommodation and Lands Owen Bonnici announced three positive changes to the First-Time Buyer Scheme, with the most important one being that the assistance granted to persons with disabilities will double to €20,000.
The First-Time Buyer Scheme provides assistance of €1,000 per year for a period of ten years to support young people during the first years after purchasing their first home. For persons with disabilities, this grant will now increase to €20,000.
This is one of the measures of the Electoral Manifesto being implemented during the Government’s first 100 days and, in the words of Minister Bonnici, shows the commitment to making assistance fairer and more targeted towards those who need it most.
Minister Bonnici said, “Our aim is to continue to give concrete support to families so that more people can become homeowners. With this package of three changes that we are announcing today, we are strengthening assistance for people with disabilities, while continuing to update our schemes according to today’s realities and needs.”
Minister Bonnici also announced that the scheme is being updated to cover cases where a property was donated after 2022, and a loan was subsequently taken out for the construction or completion of the same home. These persons will now also benefit from €1,000 per year for ten years.
In addition, the scheme will also be extended to other buyers who are not first-time buyers, but whose second residence will be their primary and sole residence, and who do not own any other properties. This third change will therefore address different situations, including separated persons who need to purchase a new property to serve as their primary residence.
Housing Authority CEO Matthew Zerafa said, “Behind every application, there is a person or family aspiring to become a homeowner. However, not everyone starts from the same point, and life circumstances change. Therefore, the amendments we are announcing today are intended precisely to ensure that support reaches those who need it in a fairer way, including persons with disabilities, separated persons and families who have found themselves facing different realities. We remain committed to continuing to listen to people, understanding their realities and adapting our schemes so that more people have a real opportunity to become homeowners.”
In Malta, around 85% of Maltese families own their property. This remains one of the main aspirations of families, particularly young people taking this important step in their lives. The Housing Authority offers a wide portfolio of schemes to help families become homeowners and strengthen their ability to meet the costs associated with purchasing and maintaining a property. On average, one family every day benefits from one of the Housing Authority’s schemes to help them become homeowners.