Selling properties at below market value prices to registered Gibraltarians

Sir Joe Bossano says the Gibraltar Savings Bank has invested £1m in refurbishing seven or eight pre-war Government flats.

Parliament heard that when the flats are ready, they will be sold by a Government company at below market value prices - cheaper even than the 50:50 affordable homes.

Registered Gibraltarians will be eligible to buy them if they are on the Housing Waiting List or can return a Government property. 

The Opposition had asked about Hargraves Court. The Minister for the Savings Bank confirmed the properties are in the upper town and have been derelict for 20 years or more.

Sir Joe said he hopes to provide 50 to 100, and confirmed the leases will prevent them from ever being sold in the open market.