Malta’s ‘Equity Sharing’ scheme has been officially extended for couples and individuals of over 30 years.
This was announced by the Ministry for Social Accommodation Roderick Galdes, together with the CEO of the Housing Authority Leonid McKay and the Chief Strategy Officer at APS Bank Liana DeBattista in a press conference, where it was emphasised how this scheme will continue to help the younger generations buy properties with financial aid from the government.
As mentioned in the 2022 budget, this scheme has now been changed after being applicable only for individuals of over 40 years. This extension will allow couples and individuals to gain easier access the property market in collaboration with the Maltese government.
The Housing Authority will finance between twenty thousand and hundred thousand Euro (€20,000 – €100,000) for the purchase of the property which should not exceed €200,000. Hence, the Housing Authority becomes a part-owner of the same property. The applicants will then be obliged to finance at least ten percent (10%) of the price of the property from their personal assets.
The Minister for Social Accommodation Roderick Galdes claimed that this initiative is crucial for making housing in Malta affordable and for aiding Maltese families.