Fact-checking Homeownership Among Malta’s Under-35s: The Reality Behind the Myths

### Fact-check: Do 90% of Under-35s Own Their Own Homes?

In recent years, the Maltese housing market has garnered significant attention, particularly with claims suggesting that a staggering 90% of individuals under the age of 35 own their homes. This assertion raises eyebrows, especially considering the unique socio-economic landscape of Malta. As a small island nation grappling with intense property demand, it’s essential to dissect the reality behind these statistics and understand their implications for the younger generation.

Malta’s housing market is characterized by its rapid growth and escalating property prices. According to the National Statistics Office (NSO), property prices have surged by over 40% in the last decade, making homeownership an elusive dream for many young people. The average price for a two-bedroom apartment in urban areas can reach upwards of €250,000, a figure that poses a significant barrier to entry for first-time buyers.

The assertion that 90% of under-35s own their homes appears to be more myth than reality. Recent reports indicate that only about 40% of young adults in Malta are homeowners. This figure aligns more closely with the experiences of many young people who face challenges such as high property prices, stagnant wages, and a competitive rental market. The dream of owning a home is becoming increasingly difficult to attain, leading to a shift in lifestyle choices among the younger population.

Culturally, homeownership has long been seen as a rite of passage in Maltese society. Traditionally, owning a home symbolizes stability and success. However, the current economic climate is prompting many young people to reconsider their priorities. Instead of investing in property, they are opting for flexibility, often choosing to rent or even live with family for longer periods. This shift reflects a broader trend observed across Europe, where young adults are increasingly delaying major life milestones, such as marriage and homeownership.

The community impact of this trend cannot be understated. As more young people remain renters, the dynamics of local neighborhoods are shifting. Areas that were once predominantly inhabited by families are now seeing an influx of younger renters, leading to a more vibrant, albeit transient, community. This demographic change can stimulate local businesses and cultural activities, yet it may also lead to tensions regarding housing availability and pricing.

Moreover, the government has recognized the pressing need to address the housing crisis. Initiatives aimed at helping first-time buyers, such as the First-Time Buyers Scheme, provide financial assistance to those looking to purchase property. However, many argue that these measures are not sufficient to tackle the root causes of the issue, such as speculative investment and a lack of affordable housing options.

Additionally, the rise of Airbnbs and short-term rentals has exacerbated the situation. With many properties being taken off the long-term rental market to cater to tourists, the availability of affordable housing for locals is dwindling. This trend has sparked ongoing debates about the need for regulation in the short-term rental sector to ensure that young residents are not priced out of their own neighborhoods.

In conclusion, while the notion that 90% of under-35s in Malta own their homes is misleading, it underscores a significant societal concern. The dream of homeownership is increasingly out of reach for many young people, leading to broader implications for community structure and cultural values. As Malta navigates these challenges, the focus must shift toward sustainable housing solutions that support the aspirations of its youth, ensuring that homeownership remains a viable option for future generations.