MDA says budget will encourage property market investment

Association welcomes extension of various government property schemes

MDA President Sandro Chetucuti with Prime Minister Joseph Muscat (file photo)
MDA President Sandro Chetucuti with Prime Minister Joseph Muscat (file photo)

The Malta Developers Association said that the Government’s policies presented in the budget yesterday are “are aimed at sustainable economic and fiscal continuity.”

The announced 2018 Budget measures “will continue to incentivise investment in the property market,” they said, making it affordable in areas were rehabilitation and regeneration are “sorely needed.”

The MDA went on to say that they were both “satisfied and proud” that the Government accepted several of their proposals, including the extension of the scheme for first time buyers, new incentives for second time buyers, the grant of a maximum of €25,000 to owners of dilapidated property, the extension of the reduction in stamp duty for property in Gozo and incentives for the regeneration of property in urban conservation areas.

“The Budget is aimed at helping the ever-increasing middle class, while incentivising those who are industrious and enterprising,” they said.

More in Budget 2018