Court decision on old rents increases pressure on low-cost housing - NGO
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Maltese residents are being squeezed out of the property market and the situation will not be resolved by building more social housing units, environment NGO Flimkien Għal Ambjent Aħjar has said. It said the recent court decision belatedly recognised lanCourt decision on old rents increases pressure on low-cost housing - NGO
Maltese residents are being squeezed out of the property market and the situation will not be resolved by building more social housing units, environment NGO Flimkien Għal Ambjent Aħjar has said. It said the recent court decision belatedly recognised landlords' rights on pre-1995 rental property rented at below current market values would increase pressure for low-cost housing and lead to more building congestion. «Besides causing great hardship, the eviction of tenants who are unable to pay higher rents, increases housing demand exponentially. It is now undeniable that homelessness is on the rise in Malta. And yet, mainly because of the total absence of property tax levied on hoarders of multiple properties, there are still too many properties being purposely left vacant by owners waiting for the 'right' offer, » the NGO said. "It is clear that the situation is now such that average Maltese residents are being squeezed out of the property market both as regards sale and rental costs. If the government fails to provide specific solutions to these two situations then it would have shown reluctance at coming out in favour of the common good, which is not the same as economic... Read more