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The Maltese Herald

Home ownership in Malta is decreasing and the youths are becoming mummy’s boys

—

by

Mark Camilleri
in ,

Questioned by the Times of Malta over the housing affordability crisis, the Prime Minister of Malta stuck his head into the sand and chirped something about tax incentives. His chirping is rather inaudible given the reality surrounding him.

The Prime Minister is in denial about Malta’s growing housing affordability crisis and wants to pretend that youth will be able to afford homes with the government’s tax incentives.

Malta’s homeownership is decreasing rapidly and the youth are increasingly leaving their parents’ homes at a later age in life. Malta’s homeownership rate has fallen from above 80% to below 70% in the last five years amid explosive housing prices. This is Malta’s foremost social crisis, yet the Finance Minister and the Prime Minister appear content with public denials and theatrical bench-thumping in Parliament.

 

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5 responses to “Home ownership in Malta is decreasing and the youths are becoming mummy’s boys”

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    The new social inequality brought by the Labour Party - The Maltese Herald

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    […] In this article, we discussed how the Labour Party is effectively building an economic and fiscal system that is supportive of home-owners and pensioners and this support is being sustained by the workforce. Effectively, the Labour Party is creating a historical inequality gap between generations as young generations face economic challenges with the housing affordability crisis […]

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    […] this is exactly what you need to exacerbate the housing affordability crisis: a significant amount of new foreign investment in the local property sector. There are probably […]

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    Property sales in Malta keep increasing amid rising property prices - The Maltese Herald

    […] to the latest NSO statistics, property sales last year kept their rising trend as prices also kept increasing. The most bought localities are Saint Paul’s Bay, Sliema and Birkirkara. Apartments (488) and […]

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