The pledge by the Nationalist Party for first-time buyers only covers a third of prospective applicants, Finance Minister Clyde Caruana explained during a news conference this afternoon.

He said the Opposition’s proposals for first-time buyers shows that the PN “did not do its homework well or even worse didn’t even do it at all” , and warned that the party was making “big mistakes” in its calculations on housing subsidies and other proposals.

Specifically speaking about the PN’s proposal to pay half the interest on home loans for young people over a 10-year period, Caruana argued that currently there were roughly 2,300 first-time buyers annually, arguing that the PN’s proposed funding would cover only about a third of existing applicants.

PS Andy Ellul said the Labour Party has “competence and credibility” and is committed to giving families “the best start possible.”

Ellul said that 85% of Maltese and Gozitan families owned a residence in 2025, describing this as proof that Labour’s policies were helping more people achieve home ownership.

He added that a new Labour government would continue supporting first-time buyers by increasing the amount exempt from stamp duty, thereby reducing the financial burden on young families purchasing their first property.

First-time buyers will also get 1,200 euros back for notarial searches. He also spoke about the Our First Home scheme and UCA schemes.

He added that elderly people choosing to downsize and purchase a smaller residence would also benefit from reductions.