UPDATE – Reduced stamp duty rate extended!

June 17, 2021

This year Government of Malta has published the best budget ever. Important measure has been extended for another 6 months:

Reduced stamp duty rate – Reduced tax rate on first 400.000 of 5% and reduced duty rate of 1.5% on the first €400,000 of the transfer value of the property continue to apply for promises of sale registered until 31 December 2021 and for which contract is concluded by 30 June 2022.

This important measure is believed to help many buyers and sellers in post-covid times. Currently, prices of properties have stabilized and this important measure may help many buy their new home!

SHARE THIS ARTICLE
Join Our Team

Related Articles

Your Guide to Making Your First Home Purchase – A Journey Towards Homeownership

Embarking on the journey to buy your first home is an exciting milestone filled with anticipation and a sense of accomplishment. As a first-time buyer, you have the opportunity to make a significant investment in your future and create a place to call your own. In this article, we’ll provide a comprehensive guide to help […]

A very good budget in a difficult times

Same as many Maltese yesterday, we at home were stuck to television expecting Minister of Finance to give a budget speech… Times are difficult, World has just gone out of lockdowns and the global COVID crisis and started breathing a bit of fresh FREE air, tourism started picking up slowly, global trade started picking up […]

Why property prices still raise during pandemic

Statistics in Europe show that property prices during the pandemic kept steady growth with only 2 (Spain and Hungary) out of 27 EU countries showing a slight decrease in price. Overall house prices in Europe grew 5.7% in the year 2020. (Source: Eurostat April 2021) Here are the main reasons why prices kept their stability […]