New housing schemes target Malé residents, long-term migrants
The Affordable Home Ownership Model aims to provide first homes for middle-income families able to access mortgage financing.
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The government on Sunday launched a new ‘family housing’ programme as part of its ‘housing for all’ policy.
The programme was inaugurated at a ceremony by Housing Minister Dr Abdulla Muththalib and State Minister Ahmed Nazim Mohamed.
Speaking at the event, Minister Muththalib said the housing schemes introduced under the programme target different groups, including people without permanent housing, those who move between rental properties, and families unable to secure bank financing for home ownership.
Among the schemes launched is the Affordable Home Ownership Model, which aims to provide first homes for middle-income families able to access mortgage financing.
He said families unable to obtain bank finance will be offered housing under the rent-to-own model. A total of 7,500 housing units announced on Sunday night will be provided under this model.
Muththalib added that the programme also aims to support families identified as living in poverty, based on assessments by the relevant authorities. In addition, 15,000 plots will be allocated under the land-allocation scheme.
Flat Schemes for Residents of Malé
Two schemes have been introduced under the family housing programme:
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1-
A flat-allocation scheme for people living in Malé
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2-
A land-allocation scheme for people living in Malé
Basic eligibility criteria include:
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1-
Maldivian citizenship
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2-
Minimum age of 18
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3-
Not owning more than 400 sq ft of land, private land, or housing
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4-
Not having purchased a housing unit in the real-estate market, or having agreed to purchase one but discontinued payments
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5-
Neither the applicant nor spouse having previously received government housing
Flats will be allocated under two main categories:
1. People from Malé
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Those registered in Malé from birth
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Those registered as Malé residents
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Those later registered in a house in Malé
2. People from other islands living in Malé
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Those with 15 years of continuous residence in Malé
Two flat models have been announced:
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Affordable home ownership model
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Rent-to-own model
Land Allocation Scheme for Residents of Malé
Under the scheme, land will be allocated to people from Malé from the Greater Malé Area and Rasmale. For people from other islands living in Malé, land will be allocated only from Rasmale.
Both the flat and land schemes will award points based on factors such as duration of residence in Malé and family circumstances.
Further details will be published in the Government Gazette on Sunday night.
