د . إAEDSRر . س

JobsPlus Chairman Gives Ray Of Hope To Tenants On Malta’s Rent Prices

Article Featured Image

Rent prices have soared all across Malta in recent years and have now reached a level that employers have warned is putting off foreign workers from moving here. 

Yet JobsPlus chairman Clyde Caruana is optimistic things will settle down soon, telling Times Talk that the rental market will probably settle down in the coming months.

“There’s many reasons why foreign workers are leaving Malta, including that economies across the EU have started recovering, but we cannot ignore the rent market,” Caruana said. “The fact that we had such a significant influx of foreign workers in such a short span of time means the rental and housing market didn’t have enough time to adjust to this high spike in demand. More housing units are now being placed on the market, and therefore it is highly likely that rents will stabilise in the foreseeable months as supply will catch up with demand. The market will always adjust itself.”

In the interview, Caruana flat-out admitted that Malta’s low birth rate means more foreign workers are needed if the economy is to keep on growing. However, he urged the government to take advantage of the current economic boom to invest in “more productive” niches, warning that Malta will eventually reach its full carrying capacity. 

“The economy requires more workers but we will reach a stage where we will have to settle for a certain number of people,” he said. “We must ensure that economic benefits are being invested to develop the economy into a more productive one instead of simply bringing in more people.”

Have a story you would like to share about the rent situation in Malta? E-mail us at [email protected] 

READ NEXT: 17 Organisations Have Teamed Up To Demand Rent Regulation In Malta

Tim is interested in the rapid evolution of human society and is passionate about justice, human rights and cutting-edge political debates. You can follow him on Instagram or Twitter/X at @timdiacono or reach out to him at [email protected]

You may also love

View All