Launch in Malta of an affordable housing program for people whose price is out of the real estate market

People excluded from the real estate and rental market but not eligible for social housing will be able to benefit from a new foundation set up today.

The foundation is a joint social enterprise between the Department of Social Housing and the Archdiocese of Malta and will be managed by a board made up of equal representation from both parties.

The archdiocese has committed to renting the Saint Joan of Arc Convent in Kirkop on a 25-year contract, with the plan to convert it into accommodation which will be rented below market value.

In the meantime, the government has pledged to fund this foundation to the tune of €300,000 per year for the next 25 years, but the ultimate goal is for it to become an autonomous entity.

More details, including the value of these new affordable housing and application protools, will be announced by the foundation.

Social Housing Minister Roderick Galdes said the foundation will provide a solution for people caught in the middle of the housing market – unable to buy or rent properties at market value but not with an income low enough to qualify them for social housing.

“We cannot simply rely on dualism between the state and the private sector and we need new actors,” Galdes said, hailing the Church for its social role in Maltese society.

Prime Minister Robert Abela said the project is an ideal example of a joint social enterprise.

“The biggest lesson the pandemic has taught us is that we can achieve much more when we work together than when we are isolated from each other.”

Do you think this project will work?