Fed­er­a­tion of Es­tate Agents warns of po­ten­tial mass evic­tions

The Malta Business Weekly - - FRONT PAGE -

In a Face­book state­ment on their page, the Fed­er­a­tion said: “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 dra- matic 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 to Malta, are go­ing to out­bid the Mal­tese ten­ants. It is a dire sit­u­a­tion and 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.”

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