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Watch: Valletta Mayor Calls For Property Price Controls As He Warns Capital Is Too Expensive

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Valletta mayor Alfred Zammit urged the government to impose some kind of controls to regulate property prices in the capital city, warning it has become too expensive.

“We want the government to control property prices because the children of Valletta would like to live there,” Zammit said on TVM’s Insights last night. “Don’t lower the value of property but add some limits because prices have become exaggerated.”

Zammit also noted the Malta Developers Association’s statement that a new legal notice allowing Valletta establishments to keep the music on until 1am will undermine the interests of property investors.

“If property in Valletta becomes cheaper, then thank God for that, because the children of Valletta who would like to live there would be able to purchase property… however, the legal notice has nothing to do with property.”

Zammit was taking part in a debate with Billy McBee from Residenti Beltin, a new political group that intends to contest the upcoming local council elections.

McBee played down the mayor’s suggestion for property controls, warning that other towns will view it as discriminatory against them and claiming “we’re at a point of no return”.

Do you think Malta needs some kind of control on property prices?

READ NEXT: Average Gross Salary In Malta Is €3,000 Higher For Men Than It Is For Women

Tim is interested in the rapid evolution of human society brought about by technological advances. He’s passionate about justice, human rights and cutting-edge political debates. You can follow him on Twitter at @timdiacono or reach out to him at [email protected]

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