More than 2,800 families in Malta are set to benefit from the strengthened Rent Benefit, according to an announcement made by the Minister for Social and Affordable Accommodation, Roderick Galdes. Introduced in 2019, the benefit aims to ensure affordability in the property market and prevent families from paying more than they can afford.
During a recent news conference, Minister Galdes highlighted the success of the Rent Benefit, stating that it is comprehensive, flexible and effective. The benefit was introduced as part of the residential rent reform, which made it mandatory for all rental contracts to be registered.
With the strengthening of the Rent Benefit, families with a maximum income of just over €13,500 and an annual rent of €9,600 will receive up to a maximum of €5,000 per year or €416 per month. This represents an increase of €1,200 per year or €100 per month. The increase will be calculated based on a specific formula that takes into account the individual needs of each family.
Minister Galdes stressed that the ultimate goal of the Rent Benefit is to ensure that no family pays more than they can afford, regardless of market conditions. He emphasized that the government is committed to helping families move forward and will continue to listen, understand and act for the good of the Maltese and Gozitan people.
The CEO of the Housing Authority, Matthew Zerafa, praised the implementation of the strengthened Rent Benefit as a leap in quality in the rental sector. He emphasized that the increase in the benefit will be calculated based on various factors to ensure that each family’s individual needs are taken into account.
The Permanent Secretary of the Ministry, Mark Musu, highlighted the success of the Ministry’s budget measures, stating that 86% of the measures announced for the year 2023 have already been implemented. He announced that the final measure will be carried out by July.
In addition to the strengthened Rent Benefit, the Ministry is also working on a number of social housing projects in various localities around Malta. The implementation of these projects, combined with the Rent Benefit, is expected to provide affordable and adequate accommodation options for families in need.
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