The Minister for Social and Affordable Housing, Roderick Galdes, listed the main measures for the next year as his Ministry was allocated "a record investment" of €81 million.
A statement from the Ministry for Social and Affordable Housing stated that this allocated budget indicates that social and affordable housing continue to be a top priority for the government, "so that everyone has access to a decent and affordable home."
The Ministry published in its statement that in the last five years in Malta, a family has become a homeowner every two days.
Outlining the main measures affecting this sector from this recent annual budget, Minister Galdes mentioned the First-Time Buyer Scheme where applicants are given €1,000 every year for a period of 10 years to help them buy their first home. The Housing Minister said that since this scheme was introduced, over 7,000 people have benefitted from it.
More than €8 million has been allocated towards the First-Time Buyer Scheme for the upcoming year.
On the Housing Authority's Equity Sharing Scheme, Minister Galdes said that since it was introduced in 2019, more than 380 families have benefitted from it so far. This scheme is being allotted more than €5 million in funding for 2026.
Expanding the scheme, now even people between the ages of 25 and 30 years old will be eligible for it. This scheme is intended for those who do not have enough capital to buy their own home, with the Housing Authority issuing half of the capital. This borrowed capital, in its full amount, must then be redeemed within 20 years.
Minister Galdes noted that other housing benefit schemes that will continue being supported next year are the rent subsidy and the housing benefit. Around 3,000 families have benefitted from this, while another 1,900 families benefitted from a rent subsidy related to pre-1995 leases. The total investment of these schemes has increased from almost €6 million to €18 million in 2024. Both schemes have each been allotted €21 million for next year.
The Housing Minister confirmed that talks are underway for the rent subsidy scheme to be extended to private residences rented before June 1995 for those living in purely residential farmhouses.
For the 10% deposit payment scheme on home loans, this scheme has increased from €225,000 to €250,000 to help more people who do not have enough money to make a deposit. This loan is then redeemed within 25 years with all interest being paid by the Housing Authority.
The budget has increased aid for the lift installation scheme. Next year, €2 million will be allocated towards this. In the last five years, a lift has been installed every two weeks in social housing buildings, the Minister said.
The Nikru Biex Nassistu Scheme has been renewed with even more resources being provided for the upcoming year. Through this scheme, around 1,300 families are living in private properties that are being rented to the Housing Authority as social accommodation. Last year, around €10 million was spent on the scheme.
Minister Galdes mentioned another Budget measure that relates to people inheriting a property as their residence. In such cases, property inheritors will pay a reduced rate of 3.5% on the first €400,000 - no longer on the first €200,000.
The Housing Minister concluded that all schemes have contributed to shaping the government's vision to have an accommodation system that supports every phase of life, strengthens families, and reflects values of social justice and solidarity.