SME Chamber voices support for affordable housing initiative having initially opposed it

The Malta Chamber of SMEs has expressed its support for the affordable housing initiative jointly launched by the government and the Church, following a detailed review that addressed initial concerns raised by the SME Chamber.

Although the SME Chamber acknowledged the existing gap in the market present when it comes to enabling lower-middle-income families to become homeowners, the Malta Chamber of SMEs had initially raised concerns that this scheme might open room for potential abuse, inefficiencies or free market interference.

To address these concerns, the SME Chamber held separate meetings with the Minister for Social and Affordable Accommodation Rodrick Galdes, as well as with the Foundation for Affordable Housing.

Following these discussions, the SME Chamber said it was given the necessary assurance that the governance aspect as well as market stability will be maintained through a fair and transparent mechanism, implemented to manage the scheme to minimise concerns raised.

“The Malta Chamber of SMEs therefore supports the initiative and encourages the continued implementation of strict safeguards and transparency to ensure the intended households benefit fully from the scheme,” it said. “The SME Chamber will continue holding discussions with the necessary stakeholders to ensure that the scheme remains aligned with its objectives, maintains transparency, and effectively addresses the needs of lower-middle-income families.”