Federation of Estate Agents warns of potential mass evictions

The Federation of Estate Agents has warned of potential mass evictions over the next 12 months.

In a Facebook statement on their page, the Federation said: “the government is insisting on allowing over 60,000 foreign workers into Malta, within the next 12 months, without providing 60,000 Apartments for them to live in. The FEA warns that there is simply no existing vacant rental stock where to put them. Even if we had to build 10 times more than the 6,000 yearly new apartments that are currently being built, it will take two years to supply this new demand. We are currently at a crisis situation where there is not enough rental housing stock to house the existing foreign workers, let alone the new ones yet to come in.

“What is happening is that there is a bidding war going on quietly, on existing rental housing stock and the foreigners are outbidding the Maltese, every time. Social Housing Minister Roderick Galdes said that 20% of all Maltese live in rented accommodation and that works out at 90,000 Maltese. We know for a fact that these are old figures, not those of 2018. The dramatic rise in property prices has pushed entry level property beyond the reach of normal Maltese buyers on normal Maltese wages.

“This has led to a dramatic increase in rental demand. Our stats indicate that the real number of Maltese in rental accommodation is closer to 29%.

“That works out at 130,000. In one year’s time most of these are going to be evicted from their apartments because the 60,000 foreigner workers that are going to be allowed to come into Malta, are going to outbid the Maltese Tenants. It is a dire situation and the Government cannot afford to continue to listen only to the developers lobby, as their interests do not coincide with those Maltese who are in rented accommodation and will be facing eviction within the next 12 months.

“Emergency Social Housing has to be built for the Maltese. The alternative is a disaster of our own making.”