The €10 million project will involve the construction of 118 apartments in Fgura which will be available to families who do not qualify for social housing but have difficulties accessing the rental market, Galdes said at a press conference.
The apartments will be offered for rent at a minimum of €300 per month for a one-bedroom flat, moving upwards to €400 a month for a two-bedroom and €500 for a three-bedroom. These rental prices will be fixed for five years.
For people to access this scheme, the cost of the rent each month cannot make up more than a third of their monthly salary, so to qualify for a one-bedroom apartment people will need to earn a minimum of €1,000 per month.
Galdes explained income and the composition of the family will be the two factors taken into consideration when applications are being considered. Means testing will need to be carried out every five year.