Malta and property becoming modern slaves

Malta’s Overpopulation: The Dark Side of Property Investment as a Modern-Day Form of Slavery”


Malta is a country that is a hot destination for tourists. But there’s a dark side to the island that most visitors don’t see. Overpopulation has pushed Malta to the brink, leading to rampant construction that is ravaging the landscape and making living in Malta unsustainable.

To make matters worse, buying property in Malta has become akin to modern-day slavery. Banks are offering huge mortgages to residents, with interest rates that are impossible to pay off within a reasonable timeframe. This leaves people stuck in fiscal limbo – they can neither pay off the mortgage nor walk away from their home without losing everything they have invested.

In this article, we will explore why living in Malta has become such a challenge and how buying property can be considered a form of modern-day slavery. We will also look at how this unsustainable situation can be reversed and how individuals can be freed from their shackles of debt.

Overview of Malta’s Sustainability Issues

Over the past 10 years, the population has grown significantly reaching 516,000, according to the last census[1]. Malta has become the most densely populated country in Europe[2]. The influx of new residents has placed an enormous strain on the island’s already finite resources and infrastructure. In response, the government has implemented policies to spur development and meet local demand – particularly in the form of construction projects.

Unfortunately, this has had a devastating effect on the environment. Construction sites frequently release pollutants into the air, resulting in increased ailments for local residents – especially those with respiratory issues. Additionally, due to this extensive development, Malta is losing vital green spaces and wild areas at alarming rates.

What’s more, many Maltese cannot enjoy any sense of security in their own homes or even afford them in the first place. As real estate prices soar above average incomes, so too have mortgages – leaving many citizens mired in debt and essentially enslaved by banks and lenders.

Its a known fact that salaries in Malta are not the highest in Europe, however, although the salaries are considered to be good in terms of living when it comes to buying a home the salary is not enough to buy property and many Maltese locals need to approach banks and take out loans. Of course, there are Maltese who have good incomes and make a good salary that allows them to purchase a property with less stress and financial burden but these are not the majority of the population.

Exploring the Reasons Behind Overpopulation

The temptation for families to move to Malta is great—not only does it offer a high quality of life, but the costs of buying property are much lower than in other parts of Europe. Unfortunately, this has led to an unsustainable level of population growth. In fact, Malta’s population has grown by 35% since 2000.

This rise in the population has led to a housing crisis, with rental prices soaring and banks offering easy credit to entice would-be homeowners into buying property. Banks don’t care about the environmental impact or the overcrowding, they just want people to buy more property.

Despite the relatively low cost of buying property in Malta, many homeowners find themselves in crippling debt as a result of their purchases being secured against their properties. It’s no surprise that this is having a negative effect on mental health and wellbeing—many now feel enslaved by the banks and trapped in financial uncertainty.

How Overdevelopment Is Threatening Malta’s Economy

The current construction boom in Malta, due to the influx of new residents, is threatening the island’s economy. Not only does land become more expensive with increased demand, but the destruction of green spaces also decimates the country’s wildlife and takes away economic opportunities in tourism. To top it all off, Malta has been ranked second-lowest in air quality among European countries, largely due to emissions from construction sites.

What’s worse is that these factors have led to a concerning trend – Maltese citizens are living beyond their means, often taking out mortgages they cannot afford. The resulting debt then creates a form of modern-day slavery, with individuals stuck paying back an ever-increasing amount each month to banks and other lenders. This puts them at risk of losing their homes if they are unable to make their payments on time.

Obviously, this situation is not sustainable and it needs to be addressed by both government policy makers and citizens alike. Until then, living in Malta is becoming an increasingly risky prospect for prospective property buyers.

The High Cost of Buying Property in Malta

The cost of purchasing property in Malta is astronomical, and yet this does nothing to stem the overpopulation of the island. Most homes require some form of financing, whether through a bank loan or mortgage. Unfortunately, financing these properties through banks often leads to modern-day slavery for its owners.

Due to the high cost of buying property in Malta:

  1. Many homeowners are stuck in a cycle of debt that can take decades to break free from.
  2. Borrowers must adhere to strict repayment terms dictated by their lender, limiting their financial freedom and budgeting decisions for the duration of their loan period.
  3. Monthly payments have become so steep that they consume most of a family’s disposable income, leaving little room for savings or investments.
  4. The dependence on lenders can cause mental health issues and create stress within households due to lack of financial security or ability to make long-term plans.

These factors make it nearly impossible for families in Malta to live sustainably and build wealth beyond their home purchase – and all because of an unsustainable housing market where demand far outstrips supply.

How Buying Property Becomes Modern Day Slavery

Buying property in Malta has become increasingly difficult due to the rising costs of construction, but even if you were able to purchase a house, it does not guarantee a sustainable lifestyle. Banks require that you put down a large portion of the sale price before you can enter into an agreement with them, meaning that whatever money you put down is gone forever. Once the loan has been secured, you must then make regular payments towards it from your salary. This means that your earnings are suddenly reduced as a significant chunk is owed to banks every month.

This cyclical system makes people slaves to the banks and property developers, leaving them without any control or security over what will happen in the future. This is why living in Malta is no longer seen as a viable option for those looking for sustainable lifestyles.

What Alternatives Are Available to Avoid Bank Slavery?

Unfortunately, there is no easy way to avoid becoming a slave to the banks when it comes to buying property in Malta. The prices of properties are so high that it is nearly impossible to own a home without taking out a large loan.

However, there are some alternatives available to help alleviate the financial burden. Here are a few other options that you can consider when looking for your dream home in Malta:

Home Equity Loan

A home equity loan allows you to borrow against the value of your home without having to liquidate any assets. This type of loan typically offers lower interest rates and allows you better control over your monthly payments.


Co-ownership is an arrangement wherein two or more people share ownership and responsibilities for a piece of property. This arrangement can be beneficial for both parties as it can help spread out the costs and provide more financial flexibility.


Renting is often the best option for those who do not wish to commit to purchasing property outright in Malta. Rentals are generally much cheaper than buying, allowing you access to quality housing without taking on too much financial risk. Plus, renting gives you increased flexibility as most contracts allow you to move out with relatively short notice if needed.


With its high population density and reliance on foreign investment to build infrastructure and create jobs, Malta is becoming a place where buying property is nothing more than a form of modern-day slavery. Coupled with the exorbitant prices of property and the ludicrous interest rates of banks, the citizens of Malta are left in a precarious situation, unable to buy property, while simultaneously seeing their beloved island being ruined by construction and overpopulation. It’s a situation that must be addressed sooner rather than later, especially as Malta’s citizens struggle to keep up with the growing cost of living. A sustainable solution must be found before the island of Malta is irreparably transformed.

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