Fair Economic Growth Gives Everyone Opportunity To Buy Their Home, Says Alex Borg

Partit Nazzjonalista Leader Alex Borg has said that economic growth can only be considered fair if it gives everyone who wants to buy their own home the opportunity to do so.

Speaking during a discussion on affordable housing, Borg argued that despite the introduction of various housing schemes over the years, purchasing a home has become more difficult than ever. He said the challenge is affecting not only young couples but also single and separated individuals, as well as older people hoping to downsize.

The discussion brought together representatives from different sectors, including estate agent and Malta Developers Association member Andrew Bugeja, KSU Social Policy Officer Julie Ann Camilleri, Kamra tal-Periti President Andre Pizzuto and family lawyer Stephen Thake. Participants discussed the financial pressures facing prospective buyers, as well as the bureaucracy involved in purchasing property.

Shadow Minister for Housing and Lands Stanley Zammit said property prices had increased by almost 7% over the past year, while household incomes had risen by an average of just 4%. He said the widening gap between property prices and income growth is making home ownership increasingly difficult for many people.

Borg said prospective buyers cannot afford to wait years for solutions and called for an effective one stop shop to reduce bureaucracy across the various authorities involved in the home buying process. He argued that simplifying procedures would make purchasing property more accessible and less frustrating.

Concluding the discussion, Borg said economic growth should benefit everyone and stressed that people who aspire to own their own home should have a realistic opportunity to achieve that goal.

The discussion formed part of the Partit Nazzjonalista's pre Budget consultation process with stakeholders and social partners and was moderated by Neil Camenzuli.

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