Malta’s property market is spiralling out of control, and it is our young people who are paying the highest price. Rising house prices, rampant land speculation, and an investment-driven property sector are pushing the necessity of home ownership or even long-term affordable rent further out of reach for generations trying to build their lives here.
Information published by the Central Bank of Malta clearly shows that the median amount of debt young people aged 18-25 are taking on to purchase a home has risen by more than €53,000 in just three years. Between 2021 and 2024, the median loan value climbed from around €163,000 to over €216,000. By 2024, the median debt taken on for a home purchase by 25 to 35-year-olds rose by just under €36,000 to €220,400. This is clear and irrefutable evidence that owning a basic flat in Malta is becoming an ever-greater financial burden on the young and median earners. Salaries and wages in the meantime languish.
Meanwhile, unbridled land speculation, fuelled by weak planning oversight and a system that favours profit over people, is turning our towns and countryside into concrete jungles. Our agricultural land and open spaces are being bulldozed while developers and speculators reap huge profits, with little regard for community interests. Sustainable development on these islands is a sick joke. All this while the quality of the property developed and the surrounding urban areas continue to decline.
The rise of buy-to-let investments and flats marketed at “golden passport” holders has further distorted the market, converting homes into commodities and sidelining the needs of Maltese families. Properties are increasingly seen as financial assets first, homes second, making affordability a privilege only for those already wealthy or supported by family wealth.
ADPD-The Green Party Chairperson Sandra Gauci concluded that the party insists that decent, affordable housing is a basic necessity and right not a speculation vehicle. We call on the government to implement strong rent regulation framework which curbs speculative buying, halts policies that encourage absentee ownership for investment, golden passports or similar schemes, and prioritise real, affordable homes for Maltese residents. The time for token measures is over. Only then can we ensure that young people can look forward to a future where owning a decent home does not literally suck them dry.
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Spekulazzjoni rampanti tal-art iffacilitata mis-sussidji tal-gvern: għall-ftit a skapitu tal-ħafna
Is-suq tal-proprjetà f’Malta huwa karatterizzat minn spekulazzjoni rampanti u bla kontroll, u huma ż-żgħażagħ tagħna li qed iħallsu prezz għoli għal dan. Iż-żieda fil-prezzijiet tal-proprjetà residenzjali, l-ispekulazzjoni rampanti tal-art, u settur tal-proprjeta xprunat mill-investiment qed inaqqsu l-aċċess reali għal proprjetà residenzjali jew saħansitra kera affordabbli fit-tul, u jagħmluha aktar difficli għall-ġenerazzjonijiet iż-żgħar li qed jippruvaw jibnu ħajjithom hawnhekk.
Informazzjoni ppubblikata mill-Bank Ċentrali ta’ Malta turi biċ-ċar li l-ammont medjan ta’ self mill-banek li żgħażagħ bejn it-18 u l-25 sena qed jieħdu biex jixtru dar żdied b’aktar minn €53,000 fi tliet snin biss. Bejn l-2021 u l-2024, il-valur medjan ta’ dan is-self żdied minn madwar €163,000 għal aktar minn €216,000. Sal-2024, is-self medjan meħud għal xiri ta’ dar minn żgħażagħ ta’ bejn il-25 u l-35 sena żdied bi ftit inqas minn €36,000 għal €220,400. Din hija evidenza ċara u inkonfutabbli li l-valur ta’ flat bażiku f’Malta qed issir piż finanzjarju dejjem akbar fuq dawk li jaqilgħu salarji medji. Is-salarji u l-pagi sadanittant għadhom imwaħħlin ‘l isfel.
Sadanittant, l-ispekulazzjoni bla rażan tal-art, iffaċilitata minn sorveljanza dgħajfa tal-ippjanar u sistema li tiffavorixxi l-profitt fuq in-nies, qed tittrasforma l-ibliet u l-kampanja tagħna f’ġungli tal-konkos. L-art agrikola u l-ispazji miftuħa tagħna qed jinqerdu filwaqt li l-iżviluppaturi u l-ispekulaturi jaħsdu profitti kbar, bi ftit li xejn konsiderazzjoni għall-interessi komunitarji. L-iżvilupp sostenibbli f’ dawn il-gżejjer huwa daħk fil-wiċċ. Dan kollu filwaqt li l-kwalità tal-proprjetà u taż-żoni urbani tal-madwar qed tkompli tonqos.
Iż-żieda fl-investimenti ta’ flats għall-kiri kkummerċjalizzati għand id-detenturi tal-“passaport tad-deheb” ( u skemi simili għas-sinjuruni) kompliet ħarget l-effeti ħziena tas-suq, ikkonvertiet id-djar u sempliċi flat f’komoditajiet u warrbet fil-ġenb il-ħtiġijiet tal-familji Maltin. Il-proprjetajiet qed jitqiesu dejjem aktar bħala assi finanzjarji l-ewwel u mhux bħala djar u neċessità. Dan jagħmel l-affordabbilità privileġġ riservat għal dawk li diġà huma sinjuri jew inkella sostnuti mill-ġid tal-familja tagħhom.
Iċ-Chairperson ta’ ADPD-The Green Party Sandra Gauci temmet tgħid li l-partit jisħaq li akkomodazzjoni diċenti u affordabbli hija ħtieġa bażika u dritt mhux mezz ta’ spekulazzjoni. Nappellaw lill-gvern biex jimplimenta qafas b’saħħtu ta’ regolamentazzjoni tal-kera li jrażżan ix-xiri spekulattiv, itemm darba għal dejjem politika li tinkoraġġixxi proprjetà għall-investiment spekulattiv, skemi ta’ passaporti tad-deheb u skemi oħra simili, u jipprijoritizza djar realment affordabbli għar-residenti Maltin. Iż-żmien għall-gimmicks għadda. B’ hekk biss nistgħu niżguraw li ż-żgħażagħ ikunu jistgħu jħarsu ’l quddiem lejn futur sostenibbli u affordabbli.
