Written by Kris Bajada
ASCS hosted a debate about the current property situation for university students, last Wednesday on campus. Students were welcome to attend and air their daily struggles.
Can we afford property?
NO; a simple yet direct answer. The difficulties students face when it comes to buying or renting a place to live has become a prominent issue these days. Consider yourself lucky if you manage to find a comfortable place at a reasonable price. Most of us struggle to find somewhere decent that won’t break our bank.
ASCS hosted this debate in collaboration with multiple student organisations including UESA, GHSL, MAKE, ELSA, GUG, JEF and Moviment Graffiti.
The panel featured Dario Cacopardo (Economist), Rafel Grima (Moviment Graffitti), Sandro Chetcuti (MDA President), Dr. Edric Micallef Figallo (Lawyer) and Kevin Buttigieg (RE/MAX CEO & Managing Director).
Are property prices too high for students?
All panelists agreed the current property prices are too high; with Dr. Micallef saying that this a problem everyone is facing, not just students. Buttigieg attempted to console the student body, saying that property prices will eventually stabilise.
The consensus across the panel was that if we were to build less and renovate more the prices would be a lot lower. Property costs are rising because we keep taking up more and more land. The less land there is, the more expensive property becomes.
Chetcuti said that the price of new land is the issue; construction costs are relatively stable. That said, we should be considering renovations of old buildings as alternatives for building from scratch.
This would also mean less urbanisation and more green areas, apart from the lower property costs of course. Win-win.
Should the government interfere?
It’s hard for the government can’t just dictate rent prices, said Cacopardo. A good alternative could be for the government to enter the property market with competitive prices, or to impose taxes on empty properties.
Chetcuti and Buttigieg completely disagreed with the idea of government interference. Students should save up, learn about the market and then find the right time to buy property.
Unfortunately, students are not informed enough about the market through the formal education system. It is only through these niche events that students receive this info.
Should the government subsidies Gozitan students receive an increase with the increase in rent prices?
‘Semi-public’ accommodation could be created by hiring third-party developers to build on public land. The rent prices for those buildings could then be fixed for a specific time period, making it easier for students to rent.
Grima agreed and suggested that the government should develop the land rather than a second party so as to keep it in the public sector.
All things considered; it was a successful debate albeit one statement that Buttigieg and Chetcuti both expressed which irked the students present:
“If students looked around, they would be able to find better-paying jobs.”
Statements like these go to show the disconnect between older generations and students as to what the working world has become.