Issue link: https://maltatoday.uberflip.com/i/1542674
SINCE time immemorial, prob- ably since the first Neolithic cavemen and women settled on the wild cliffs of our Maltese shores, procreated and their offspring came of age, parental advice has always been, "start looking around and find your own cave!" Owning your own home in Malta has always been of para- mount importance, which makes sense in a country where land is scarce and, hence, very valuable. However in the past, it was only the very rich who were proper- ty owners, while the rest had to rent. For the common people, there was something called the 1931 Rent Regulation Ordi- nance, which introduced strict rent controls and effectively led to an indefinite rent freeze. For decades, this ordinance protect- ed those tenants who were on a low income and lasted well into the 1990s. It was only relatively recently, following new rent re- form legislation after landlords successfully challenged the con- cept of rent-controlled proper- ty, that the law allowed them to raise the meagre rents to market prices. The reform ensured pro- tection for tenants with govern- ment stepping in to make up for the difference in rent. But between the 1930s and now, there was a whole other pe- riod of home ownership which was initiated by Mintoff when he was prime minister. In the late 1970s, the Maltese government implemented the Home Own- ership Scheme which provided plots of land and housing units at a very low cost. Engaged cou- ples could submit their applica- tion and if they were lucky (or as some claim, if they were Labour supporters) they could qualify for a plot of land at an affordable price. The rows of what we call terraced houses in many towns and villages are a result of this scheme. The scheme was highly suc- cessful in encouraging a strong homeownership culture. Ap- proximately 7,000 plots were allocated during the 1970s and 1980s. The beneficiaries of those plots are now couples in their 60s and 70s, so when today's generation accuse them of not knowing what it's like to have to grapple with today's astronomi- cal property prices, they are not completely wrong. On the other hand, the owners of those terraced houses could never in their wildest dreams imagine the lifestyle of today's 20 or 30-somethings. 45 years ago, many would spend their often long engagement scrimp- ing and saving while, naturally, still living with their parents, in order to build their new home. Dining out was unheard of, and dates consisted of going to the cinema and maybe a quick drink followed by a stroll down Republic Street or the Sliema front. Strict curfews were the norm for most young women so they couldn't stay out late in any case. I've heard countless stories of people my age who couldn't wait to get married simply to get some measure of freedom, away from their parents' curfews. Buying a home is such an in- trinsic part of our tradition that it is colloquially referred to as 'il-post' (literally, the place)— the acquisition of which often pre-empted any formal wed- ding proposal. Once couples cast their application for a plot of land, or in later years, start- ed house-hunting, it automat- ically meant they were getting hitched. Up until the 2000s, I would say that the trend of living together first was so unheard of that it was not even considered a remote possibility. I was reminded of all this when reading the prime minister's re- cent assertion that 90% of Mal- tese people under the age of 35 own their home which was met by a collective scorn of disbelief. A fact-check by The Times has shown that this claim is not cor- rect since the data he is basing his statement on refers to house- holds rather than individuals. It also does not factor in those un- der 35 who still live with their parents, so they do not appear in the data at all. Leaving aside this foolish mas- saging of statistics for political expediency (why try to skew the figures when they can be so eas- ily checked?) what I found even more interesting were the com- ments. One pointed remark which came up again and again was that "it is the bank which owns your home, until you pay off your loan". I found this a rather strange thing to say; after all, it has al- ways been like that. You see a house (or these days, more like- ly, a flat) which appeals to you, you go to the bank and take out a mortgage for 25-30-40 years de- pending on your circumstances. Very few people have enough disposable cash in hand to buy a property upfront and even they tend to take out a loan. So in re- al terms, yes, most people finish paying off their mortgage just in time for retirement unless they have been wise enough to pay off as much as they can beforehand to get rid of their loan and cut down on interest payments to be debt-free before they are 50, which is very possible. Anyone who listens to finance guru Dave Ramsey knows that his first advice to people who come into a bit of money is al- ways the same—get rid of your debts. Yet, interestingly enough, so many refuse to do this, and prefer to keep having those monthly payments as the inter- est piles up while they spend the money on other luxury items. It is a choice, of course, but I always find it a significant indicator of the different approaches people take towards their finances. Undoubtedly, some of to- day's property prices are high- ly over-inflated and getting on the property ladder has become more difficult, but the belief that securing a home of one's own should be the number one prior- ity once one joins the workforce, is still ingrained in the bones of many Maltese parents. I often notice the generational discon- nect on this topic, with those in their 20s and 30s hotly arguing that nothing is affordable any more, while those my age retort with that word which strikes such a discord to Millennial ears, 'sacrifice'. I'm going to have to agree with my demographic on this one be- cause in truth, everything is rel- ative. A lot has changed, starting with salaries, so while the price of property was obviously much lower, so was our take home pay. Most of all, the sharp contrast in lifestyles could not be more stark and I see this even with my own current lifestyle which is a million times removed from when we were first starting out. From the latest technology to socialising to travel, I know for a fact that I spend much more than I ever used to. If I were in my 30s today trying to save enough to buy a property, I have a whole list of (unnecessary) ex- penses which would definitely have to be axed in order to have enough for a down payment. That is precisely why we paid off our mortgage many, many years ago, because I can think of noth- ing worse than being at the age I am now and having to count my pennies. If couples in the past lived a simpler life and had to make sacrifices in order to finally be able to afford "il-post" then in reality that has not changed. What also hasn't changed is that most young people still live with their parents well into their late 20s and early 30s. If they have a full-time job and are living rent- free and bill-free, come on, they should be able to save some- thing. But if you mention 'cut- ting back' on going out etc. they are positively horrified. There is also one last point. Many parents do help their chil- dren with a head start if they can. Remember all those ter- raced houses? In some cases, if their contract allows it, they are being sold at a great profit to developers who tear them down and turn them into flats, allocat- ing several flats to the owners in exchange. In other cases, adult children are the beneficiaries of generational wealth through the inheritance of family property. The frugality of their parents, and more so, their grandpar- ents is often to their advantage because a home can literally fall into their lap. And while that might sound like a dream come true for some, I suppose it depends on your character, I doubt it can com- pare to the pride and satisfac- tion you feel when you are hand- ed the keys to your own place which you bought through your own hard work and that dreaded word—sacrifice. 3 maltatoday | SUNDAY • 18 JANUARY 2026 OPINION Josanne Cassar She has worked in the field of communications and journalism for the last 30 years Yes, prices have gone up, but buying your own home has always involved sacrifice If couples in the past lived a simpler life and had to make sacrifices in order to finally be able to afford "il-post" then in reality that has not changed