“Malta Needs To Diversify Its Housing Supply To Sustain Stability” – Housing Authority

“Malta needs to embrace different housing models that go beyond what we’ve done over the past 30 years and address the needs and desires of modern Maltese society.” – These were the words of Housing Authority CEO Matthew Zerafa during a recent discussion on sustainability organised by EY Malta at the Future Realised Event 2023.

The breakout session featured the Housing Authority alongside Project Green CEO Steve Ellul, BOV Head of BOV ESG Clint Flores, ERA CEO Kevin Mercieca, and Director at EY EMEIA Public Policy Ambrose Murray, who delved into the role of society in supporting a transition to a more sustainable Europe and Malta.

While discussing the opportunities and progress made in the housing sector over recent years, it became evident that notable changes in demand and community demographics cannot be ignored. Zerafa highlighted how innovative pilot projects, such as the Intergenerational Housing initiative in Valletta, have successfully brought together a group of elderly and youths through a co-living concept that promotes open spaces and housing with multiple occupants within their own community.

According to EY’s Malta Attractiveness Survey 2023, Malta is viewed as an appealing investment destination by 59% for Foreign Direct Investment (FDI), marking a notable upswing from the decline registered during the COVID-19 pandemic. However, the attractiveness of Malta’s ‘Social Climate Stability,’ within which housing plays a significant role, has seen a decrease of six percentage points compared to last year’s results. Factors such as ‘Cost Competitiveness’ and ‘Quality of Life’ are among the top risks to Malta’s FDI attractiveness. This concern is further emphasised by 86% of respondents who consider Malta’s planning and preparedness for population growth in terms of infrastructure development to be inadequate.

Matthew Zerafa stated that by guaranteeing the stability in families, it translates into stable communities which guarantee a stable and sustainable economy.

#MaltaDaily