Scheduled residential properties located in urban conservation areas will be eligible for a restoration scheme that includes a 25 per cent rebate on works up to a maximum of €5,000.

In the case of property in Valletta, the rebate will cover up to 30 per cent of the restoration costs.

Non-governmental organisations will benefit from a similar scheme on their property or buildings transferred to them by the Government. They will be eligible to a rebate of 25 per cent, up to a maximum of €2,500, on restoration works on scheduled buildings in protected areas.

Individuals and companies that buy properties outside UCAs for restoration purposes will benefit from a two per cent deduction in stamp duty. They will also be given a 20 per cent tax credit, up to €200,000, on expenses related to restoration.

Certain developments that conform with the parameters of the planning authority’s master plan will be exempt from permit fees and some could qualify for the fast track development notification order procedure.

The areas identified for this scheme include Albert Town, the Menqa Opportunity Area in Marsa, parts of St Paul’s Bay and Gżira and Taċ-Ċawla in Victoria.

In 2013, the Government will continue investing in the embellishment of localities. The Budget for local councils was increased to €32.4 million.

Works on the restoration of the façade of Auberge de Castille will be completed and works on the façade of St John’s Co-Cathedral will start.