Ritratt: Miguela XuerebMalta’s long-standing tradition of high homeownership is under unprecedented pressure, according to new data released today by the National Statistics Office, which reveals a steady decline in the proportion of households owning their homes and mounting evidence that property prices are increasingly out of reach for young people and vulnerable families.
The 2024 European Statistics on Income and Living Conditions (EU-SILC) survey shows that homeownership has fallen to 66.45%, down from 78.3% in 2021, a sharp decline that marks a significant departure from Malta’s historical position as one of Europe’s most property-owning nations. The country’s ownership rate, which peaked at over 80% in recent years, has now dropped closer to the EU average of 69.2%.
The figures, based on interviews with 4,538 households across Malta and Gozo, paint a picture of a housing market increasingly divided between those who secured property in previous decades and younger households struggling to get on the property ladder.
Of the 66.4% who own their homes, just 48.1% are outright owners who either never had a mortgage or have repaid their debt in full. More than a quarter of homeowners, 27.6%, are still paying off mortgages, with many experiencing significant financial strain.
The data reveals stark disparities in the financial burden of housing costs across different demographic groups. While 31.9% of tenants report housing costs as a heavy burden, a slight increase from 2023, owners with mortgages are close behind at 30.1%. In contrast, only 15.4% of outright owners feel similarly pressured, highlighting the generational divide in housing security.
The most vulnerable groups face the harshest conditions. Single-parent households are by far the most burdened, with 48.9% considering housing costs a heavy burden in 2024. For those living in severe material deprivation, the situation is acute, with a staggering 76.5% struggling with housing costs.
Among households at risk of poverty, 41% report a heavy burden, compared to just 18.7% of those not at risk, a gap that has widened significantly since 2023.
Since the 1960s, successive Maltese administrations have implemented a mix of robust social housing programmes and targeted economic strategies that were instrumental in raising the standard of living and fostering a strong culture of homeownership across a broad spectrum of the population. However, these advances are now critically imperilled by a significant and protracted housing affordability crisis.
And the affordability crisis is particularly pronounced for younger households and families with children. Households with dependent children report a much higher heavy burden rate of 27.1% compared to 18.7% for those without children.
Younger couples without children show a mixed pattern, with 64.3% owning their homes, split almost evenly between those with and without mortgages.
In contrast, homeownership is nearly universal for older households, with 84.4% of two-adult households where at least one person is 65 or over owning their home, overwhelmingly without a mortgage. This generational gap underscores how Malta’s housing market has fundamentally changed, with property increasingly difficult to access for those not already on the ladder.
The rental market has grown substantially as more households are priced out of homeownership. Just under 30% of all households now rent their main dwelling, with 30.6% of these being households without dependent children. The proportion drops to 27.3% for households with dependent children, many of whom are likely saving for a deposit whilst facing high rental costs that make accumulation of funds increasingly difficult.
Property prices have surged dramatically in recent years, with median apartment prices nearly doubling from €142,000 in 2013 to €280,000 in 2024. This rapid appreciation has outstripped wage growth, pushing up the minimum income threshold required for prospective homeowners to qualify for a home loan. The challenge for young people is less about monthly repayments and more about accumulating the substantial deposit and other up-front costs required for purchase.
The influx of foreign workers has created substantial new demand, particularly in the rental market, where prices have risen by over 175% over a five-year period. This demographic shift, combined with overall population growth fuelled by migration and changing household structures, has increased total demand for housing units, contributing to sustained price pressure.
Malta’s housing stock is predominantly composed of apartments and maisonettes, which accounted for 65.7% of all inhabited dwellings in 2024, while 30.9% were semi-detached or terraced houses and just 3.4% were detached houses. The most common dwelling size is five rooms, accounting for 34.8% of all households.
Overcrowding remains a concern, with 4.4% of persons in private households living in overcrowded dwellings in 2024. Meanwhile, pollution, grime, or other environmental problems were cited as the most common housing issue by 37.65 of respondents, followed by noise from neighbours or streets at 34%.
There is a slight silver lining in the data: the proportion of households feeling a heavy burden from housing costs fell from 24.9% in 2023 to 22.3% in 2024, while those feeling no burden at all increased from 21.5% to 24.9%. However, this overall improvement masks the acute pressure on vulnerable groups and the growing divide between property owners and those still striving to achieve homeownership.
