The Housing Authority has set aside Lm2 million for use on a new scheme where it will assist those acquiring their first residence from the private sector, chairman Marisa Micallef has said.

Writing in the authority's annual report, Ms Micallef said there had been strong interest in the shared ownership scheme launched by the authority last year.

She said that the main focus of the authority was on improving existing properties and creating the circumstances for vacant dwelling to be put to use.

The authority every year gave financial assistance for the improvement of some 400 residences. Financial assistance was also given to 861 people who rented their residences from the private sector.

The authority also launched a programme where it rented property from the private sector for allocation to those seeking accommodation. So far a block of apartments had been rented in the north of Malta and tenements assigned to applicants seeking social housing.

The authority also built 43 apartments which were then rented out by the Department of Social Accommodation .

The authority's work in the regeneration of urban areas had given good results in Msida, Floriana, Valletta and Cospicua, Ms Micallef said.

The authority was also helping agencies and NGOs to support accommodation for persons having special needs.

During the year up to September 2006 the authority had a surplus of Lm1.2 million.