The Ministry for Finance and Employment has launched the grant scheme for the restoration and finishing of privately owned residential properties.
This scheme will reimburse eligible expenditure that is incurred by the applicant related to the restoration and finishing of privately owned residential properties within Urban Conservation Areas (UCAs), properties that have been built for more than 20 years and have been vacant for more than seven years, and new properties that are developed in conformity with approved criteria as defined by the established guidelines and approved by the Board appointed by the Minister responsible for finance.
Between the 12th of October 2021 and the 31st of December 2024, eligible applicants may apply twice on each property for a grant of 18% on the costs of restoration and finishing up to an aggregate maximum of €54,000 for each property.
In cases where an applicant intends to apply for the grant on more than one property, a separate application for each property must be submitted by the applicant for each property being applied for.
Eligibility
The applicant must be a Maltese resident, who is 18 years or over on the date of application, and officially recognised as being the owner of a private residential Urban Conservation Area (UCA) property, or the owner of a private residential property that has been built for more than 20 years and has been vacant for more than seven years, or the owner of a new private residential property developed in conformity with the established guidelines and approved by the Board.
This grant applies for those who are going to purchase, or already have, these types of properties and wish to restore and finish these properties. The resrotation work has to be carried out, completed and issued a receipt between the 12 October 2021 and the 31 December 2024.
​Eligible expenditure consists of the following:
​materials,
labour,
hire of equipment,
​professional fees (architect’s fees, specialist consultancy, project management costs) - these shall be capped at maximum rate of 10% of the total eligible expenditure applied for in each application.
planning permit fees and other government charges that are directly related to restoration and finishing.​​
Applications under this scheme shall be made only via the official electronic portal/s and must contain all the information, details and documents as required in the said form and in terms of this scheme and any other documents which the Ministry responsible for finance, may, from time to time require. The application portal will open and start receiving submissions during December 2021.
Property situated within an urban conservation area
Submission of a certificate issued by the PA certifying that the property falls within a UCA, in accordance with article 57 of the Development Planning Act or any Act which may be substituted therefore (Only applicable for properties in UCA);
20/7 Vacant property
Properties that are eligible:-
- have been built for more than twenty years
- have been vacant for more than seven years
- are owned by the applicant prior to 12th October 2021,
The applicant must submit the appropriate document issued by ARMS that verifies that the property was in fact vacant for more than seven years and an architect’s certificate certifying the date the property was built.
Property developed in accordance with established guidelines
For the incentives relating to new properties, the applicant must submit a Certification from the Board appointed by the Ministry for Finance and Employment authenticating that the property was built and finished according to the established guidelines.
The guidelines will include information on the expected aesthetical overview of the property as well as green credentials.
The guidelines and the application portal for this incentive will be online in December 2021.
Fiscal Receipts and Invoices
Fiscal receipts in the name of applicant, showing payments made by the applicant on goods and services purchased as well as works carried out related to restoration and finishing of property. The fiscal receipt must also include the address of the property being applied for in the submitted application; Each fiscal receipt is to be accompanied by invoices containing details of goods purchased or services given to the applicant including the applicant’s details.
The applicant must also provide any other document which the Ministry for Finance and Employment, may from time to time require.
A property that benefits from the grant cannot be divided, whereby the number of residential units shall remain the same. If the property subsequently re-developed into separate residential units or deviates from the parameters as established in the legal notice, the applicant will have to refund the full amount of the grant paid to them under this Grant.
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Payment of Grant
The grant will be credited to the applicant in a bank account that is indicated in the application.
https://finance.gov.mt/linjigwida/Pages/Restoration-Grant.aspx