Government to offer apartments with rent starting at €300

Tista' taqra bil- Malti.

Low income earners who are looking for accommodation will be able to rent apartments starting at €300 per month through a new government scheme. The first project in this affordable housing scheme was announced on Saturday morning.

The prices for the apartments will vary from €300 per month for a one-bedroom apartment, to €400 per month for a two-bedroom apartment to €500 per month for a three-bedroom apartment, according to a statement by the Parliamentary Secretariat for Social Accommodation on Saturday. Families eligible for affordable housing will get a five-year lease contract. This will ensure stability for a period of time.

Parliamentary Secretary for Social Accommodation Roderick Galdes said that the research carried out by the secretariat showed that there was a need for a new social housing model. Galdes explained that a model of affordable housing is aimed at those individuals that would not qualify for social housing but are priced out from the rental market. The research also showed that there is a shortage of properties available in the price-range of €300-€500.

The €10 million project announced on Saturday will involve the construction of apartments in Fgura once the Planning Authority green-lights the development application.

A means test will be carried out to determine whether one is eligible for affordable housing. It will be ensured that those who benefit from the scheme are in a position to pay rent. Galdes said that a family should spent around 30% of its income on accommodation. Those eligible will have to be in a position to pay the estimated prices. Those of a lower income may be eligible for social housing.

Joseph Bartolo who chairs the Affordable Housing Board, noted that the project will be paid out through the rents.