The Housing Authority has reviewed its grant for the construction and/or completion of the first home to include also property that was built prior to 1990.

The chairman of the Housing Authority, Marisa Micallef, said: “The scheme, as it was, was basically assisting first time buyers who either bought brand new property or one built prior to 1960, but properties built between 1960 and 1990 were not covered. In this way we hope to continue to encourage engaged couples and families with children and single people over 30 to buy those properties which are most suitable for their needs, including those which may need quite major refurbishment 15-45 years after they were originally built.”

Currently those owners whose first property was already built and has been ready for habitation, were eligible to benefit from VAT refund if the property was built before the year 1960.

The Housing Authority is now extending this scheme also to owners whose property was built prior to 1990. The aim of this amendment is to encourage prospective home owners to buy existing properties.