Malta’s housing market is under stress. Not because it is facing a lack of demand, but rather too much of it. This is reflective of a wider European problem which hasn’t spared those resident in Malta, leaving people from all income levels concerned about housing affordability.

Having seen this issue, the Maltese government and the Archdiocese of Malta have launched the Foundation for Affordable Housing as a joint venture. This initiative is not just another policy on paper; it’s a concerted effort to bridge the widening gap between soaring property prices and the average purchasing power.

So, what’s the FAH’s game plan? At its core, the Foundation is championing the cause of housing accessibility in Malta. It’s casting a safety net for those who, while not eligible for social housing, find the dream of homeownership slipping through their fingers. The FAH’s role is not merely that of a benefactor; it positions itself as a financial guide, offering tools and pathways to make homeownership a tangible reality. 

The FAH will not be a government entity, but will operate as a social enterprise. This means that in all its initiatives, the Foundation has to be sustainable and steer clear of short-term solutions, focusing instead on lasting remedies that tackle the market as a whole.

But the ramifications of this affordability issue are far-reaching. It’s not just about bricks and mortar; it’s about the very fabric of Maltese society. The property market, spurred by both local and international demand, is creating a gap. On one side, the aspirational property dreams of the Maltese, and on the other, their financial realities. Studies suggest that this disparity hits hardest for single individuals and those with constrained finances, pushing the dream of homeownership further out of reach.

The FAH is stepping in to bridge that gap, advocating for the silent majority who feel sidelined by the property boom. Through its innovative strategies and financial interventions, the Foundation is striving to recalibrate the scales, ensuring that homeownership in Malta is not a privilege, but a right within reach.