PN proposes €25,000 grant for first-time buyers

The Nationalist Party has proposed a €25,000 grant for young people buying their first home, as part of a broader package of housing affordability measures.

The proposal follows the publication of a report by Grant Thornton and Dhalia earlier this week, which revealed that the average price of a property has more than doubled over the past 12 years. A home that cost €150,000 in 2013 is now priced at around €337,500, a 125% increase. In comparison, the national minimum wage rose by just over 35% in the same period.

Shadow Minister for Social and Affordable Housing Ivan Bartolo, Shadow Minister for the Family Albert Buttigieg, and Shadow Minister for Youth Bernice Bonello said the situation has left first-time buyers, especially young couples and individuals, increasingly locked out of the market.

“This is the harsh reality faced by Maltese and Gozitan families today,” the PN MPs said during a press conference. “After 12 years in government, Labour has failed to implement any serious plan to make property more affordable.”

The rental market has also seen steep price hikes, the PN said, forcing many to live in substandard conditions or under financial strain. For a growing number of people, renting is the only option, yet it is becoming equally unaffordable.

To address this, the PN outlined several policy proposals focused on improving access to housing, including:

• A €25,000 grant for young first-time buyers;
• Reduced property purchase taxes for younger buyers;
• More favourable loan schemes in collaboration with banks;
• Tax exemptions or significant reductions on the first €200,000 of a property’s value;
• Public land allocation for affordable housing targeted at first-time buyers.

The party said these measures would not only support young people striving to move out of their parents’ homes, but also help to preserve the character of Maltese towns and villages by promoting responsible development.

“Our localities are rapidly losing their identity,” the PN said. “We need a national policy that respects our heritage while ensuring that homes remain within reach for future generations.”