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Malta: Property market ‘must be sustainable’

Posted on 05 April 2013

The Government wants the property market to become sustainable, Economy Minister Chris Cardona said yesterday during a meeting with the Malta Developers Association. He listed a number of Labour electoral proposals aimed at achieving this, such as extending from seven to 12 years the period within which a property owner can pay capital gains tax or 12 per cent sales tax.
He mentioned the reduction of stamp duty for first-time buyers and the removal of the five per cent tax on the transfer of the first residential property acquired by inheritance or donation from the parents………………………………………..Full Article: Source


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