Malta's Housing Crisis: 93% of Properties Unaffordable, MDA President Warns

Malta Faces Housing Crisis as Property Prices Soar Malta is grappling with a severe housing affordability crisis, according to Michael Stivala, President of the Malta Development Association (MDA). In a recent interview, Stivala highlighted a concerning statistic: a KPMG report commissioned by the MDA revealed that 93% of properties on the market are out of reach for those on average salaries. "It's quite serious," Stivala stated, emphasizing the urgency of the situation. He attributed the high prices to a combination of factors, including increased construction costs due to the pandemic and the war in Ukraine, and lengthy project delays caused by bureaucratic red tape. Stivala called on the government to take swift action to cut unnecessary regulations and streamline the development process, making housing more accessible to ordinary citizens. The MDA is actively pushing for regulatory reform to address this urgent issue. The government is currently reviewing the local plans and building codes in an effort to find solutions to the housing crisis. While these are positive steps, the MDA hopes for more decisive action to alleviate the burden on Maltese citizens struggling to find affordable homes.