Many high-rise properties are being built with the hope of attracting rich foreign nationals to our island. These will occupy some of the best land with the nicest views.
Although I am against such high-rise buildings, the government is adamant in going ahead with such investments.
Although initially the money brought into our country will be substantial, in the long run it will taper into nothing.
What I suggest is that foreigners will only be allowed to buy long leases – of, say, 100 or 150 years. The property will then revert to the government.
Let’s face it – if, say, a foreigner buys a flat for two million euros – for eternity – this will work out at a very cheap price.
When the British occupied land in Malta, thank God it was not permanent and we got our land back. But if foreigners buy our land and have contracts which are permanent, our children will never be able to reclaim the land.
Leases are the only way Malta will still belong to the Maltese well after we are gone.