Self-catering Malta apartments covered by subsidy scheme
Self-catering Malta apartments covered by subsidy scheme
Self-catering properties in Malta are now covered by the country's tourism subsidy scheme. Originally intended for restaurants, hotels and guesthouses, the scheme was extended earlier this week.
Owners of
Malta apartments and
Gozo villas can now benefit from the subsidy scheme, reports The Times of Malta. Self-catering premises must be licensed by the Malta Tourism Authority in order to take advantage.
Launched in June of this year, the scheme subsidises a percentage of the interest rate of loans taken out for extension and renovation projects. Three million euros have been set aside for use over 10 years.
The Maltese government said that it decided to extend it to self-catering properties as a result of the industry's growth. The sector represented a market share of 10.7 per cent in 2008, an increase of 5.3 per cent from 2007.
As an example, the paper points out that the number of beds in self-catering properties on Gozo is greater than the number of hotel beds available. Owners of holiday lettings ventures can apply for a subsidy until the funds are exhausted.
This story was brought to you by holiday
lettings.co.uk, the UK's No.1 for holiday homes worldwide.
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