In the past seven years, the number of homeowners has grown by 26.5 percent. This emerges from statistics released today by the National Statistics Office, which showed that during 2019 the number of families owning their homes reached 151,260 – an increase of 31,704 over 2013.
This means that eight out of ten homes in Malta and Gozo are owned by those who live in them. The rest are rented or whoever lives in them does not pay rent. The number of properties rented in 2019 was just over 45,000 – an increase of 8,800 over 2013.
The National Statistics Office collected its information from among 4,000 families in a survey which assessed the income and living conditions of families in Malta and Gozo. Statistics show that 57.2% of homeowners were outright owners, meaning that they either never had a mortgage on their main dwelling or have repaid their debt in full.
The number of households who bought their home during 2019 increased by about 3,300 over the previous year.
The Minister for the Family, Children’s Rights and Social Solidarity Michael Falzon said that once again these figures showed that Malta is among those countries that have a high rate of homeowning families.
Minister Falzon added that these are really positive results considering the growth that has taken place in the population in recent years. More than 58 percent of homes are apartments or maisonettes. The rest are detached or semi-detached properties and most residences have five rooms or more.
The survey showed that out of a population of 467,000, about 17,700 people felt they were living in relatively small family-sized homes. Almost half are classified as at risk of poverty or social exclusion.
The statistics also shed light on how families consider their housing costs. In 2019, just over 78 percent said the costs were negligible, while about 22 percent feel the costs are a huge burden.