The Minister for Family and Social Solidarity, Marie-Louise Coleiro Preca, this morning announced that the Housing Authority is to put up for sale a number of properties and reopening the ‘Right to Buy’ scheme – ‘Sir Sid Darek.’

The Authority will be selling 46 homes and 40 garage at a subsidisd price of 35%, up from 25% under the previous scheme.

The Minister explained that the scheme is aimed at low-income couples with less than €40,000 in assets, giving them the opportunity to buy affordable social housing.

Under the Right to Buy Scheme, the Minister said that those living in rented social housing will have the option to purchase the property.

The Minister said that the subsidy for this scheme will be 50% of the market value of the property, which will be based on the locality, area, roof space and value of the land. This scheme will be available to those with up to €150,000 worth of assets.

The Minister also pointed out that this scheme is available to all tenants and not just those who have been living in their properties for at least seven years, this requirement has now been dropped.

Permalink: Government announces “affordable” social housing schemes