All Generations in Malta Voice Concern Over Rising Property Prices

### Vox Pop: All Generations Voice Concern Over Rising Property Prices

In recent months, the issue of rising property prices has become a hot topic in Malta, resonating across generations and affecting individuals from all walks of life. From young professionals to retirees, the sharp increase in housing costs has sparked widespread concern and debate. The Malta Gazette reports that property prices have risen by an average of 20% over the past year, a trend that many locals find alarming.

#### The Young and the Restless

For millennials and Gen Z, the dream of homeownership seems increasingly out of reach. “I’ve been saving for years, but the prices just keep going up,” says 28-year-old Sarah Grech, a marketing executive. “It feels like no matter how much I save, I’ll never be able to afford a place of my own.” The sentiment is echoed by many young Maltese who are struggling to balance student loans, living expenses, and the astronomical costs of property.

#### The Sandwich Generation

Middle-aged individuals, often referred to as the “sandwich generation,” are also feeling the pinch. These individuals are typically juggling the financial responsibilities of raising children and supporting aging parents. “We bought our first home 15 years ago, and it’s hard to believe how much prices have changed,” says 45-year-old Joseph Cauchi, a father of two. “It’s worrying to think about how our children will ever afford their own homes.”

#### The Golden Years

Even retirees are not immune to the impact. Many older Maltese who have paid off their mortgages are now finding that their homes are worth far more than they anticipated. While this might seem like a windfall, it also means that moving to a smaller property or relocating to be closer to family is becoming a costly endeavor. “We thought we’d be set after paying off the mortgage, but now we’re worried about the costs of downsizing,” says 65-year-old Maria Zammit.

#### Cultural and Community Impact

The cultural fabric of Malta is deeply intertwined with the concept of home. Owning property is not just a financial investment but also a symbol of stability and family roots. The rising property prices are threatening this cultural norm, as many families are forced to consider living further away from their communities. “Malta is all about family and community,” says local sociologist Dr. Maria Camilleri. “The rising property prices are disrupting these connections and could lead to a loss of our unique cultural identity.”

#### The Way Forward

The Maltese government has acknowledged the issue and is taking steps to address it. Measures such as rent control and incentives for first-time homebuyers are being discussed, but many believe that more needs to be done. “While these measures are a good start, we need a comprehensive approach that includes increasing supply, regulating foreign investment, and providing more affordable housing options,” says Dr. Camilleri.

#### Conclusion

The rising property prices in Malta are a multifaceted issue that affects every generation. From the young aspiring homeowners to the older individuals looking to downsize, the impact is widespread. It is a problem that requires collective action and innovative solutions. As Malta continues to grow and develop, it is crucial to ensure that housing remains accessible and affordable, preserving the cultural and community values that make this island unique.

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