The property rental market in Malta has seen massive hikes in prices in the last 4 years forcing people to leave the Island after contributing to the economy through hard work. Homelessness increasing because people can no longer manage. People turning up at Mount Carmel Hospital for shelter. There is the rent subsidy, recently doubled, that no doubt has helped in some cases.
Despite all this the rental prices have continued to rise like a hot air balloon and wages are not keeping up.
Chris Grech CEO of Dhalia said – “I don’t think our social conscience should prick us too much if outsiders coming here can’t afford to rent.
They can always leave. I’m talking only about non-residents here… outsiders who come here to work; not Maltese citizens who have nowhere else to go………’”
Prof Edward Scicluna, Finance minister says that there is no rent crisis as 80% of people in Malta are homeowners. (mainly Maltese of course)
The 20% of us who have to rent in an uncontrolled expensive way contribute enormously to this economy and deserve better!
There are examples from other European countries such as Luxembourg where the annual rental revenues of a property should not exceed 5 percent of what was paid for it. See the original source here.
If you believe there is in fact a rent crisis then sign and share the petition for rent regulation in Malta. At 1000 signatures it will be submitted to Government.
You can sign the petition here.