In 2022, Malta’s homeownership rate was 82.6%, significantly higher than the European average of 64.1% and other Southern European countries at 75.5%.

This figure was detailed in the Foundation for Affordable Housing‘s study “Entryways to Homeownership” by Dr. Dylan Cassar. The study highlights how Maltese families use various strategies to navigate the increasingly expensive property market.

One notable trend is that 21% of properties acquired in the last decade were through gifts or inheritance, up from 10% in the 2000s.

This includes redeveloping family-owned terraced houses into multiple apartments, enabling younger generations to enter the housing market.

Additionally, 59% of young adults (aged 18-34) still live with their parents, a co-residence rate among the highest in Europe.

This arrangement helps them save for future housing costs, contributing to Malta’s high homeownership rate.

Families also provide financial support, with 26% of households receiving gifts or inheritances, averaging €29,000.

Beyond financial assistance, the report found that families use social networks to secure favourable loan terms and connect with skilled professionals in the housing sector, offering crucial support through the intergenerational transfer of skills and expertise.

#MaltaDaily