Building with Purpose - A Sustainable Future for Malta's Homes

In August 2023, a study was conducted by KPMG Malta that delved into the realm of sustainability in construction and real estate. This research titled "Building with Purpose" shed light on the fast-evolving desires and demands of home buyers and tenants not only in Malta but the world over. The key insight being - sustainability is no longer a 'nice-to-have', but rather, a 'must-have'.

The study discerned a notable trend, that is, the increasing need for natural elements within people’s surroundings, particularly in a post-Covid context. Shockingly, it revealed that almost 49% of residents in Malta found it 'difficult' or 'very difficult' to access nature. This statistic becomes particularly worrisome considering one of nature's direct impacts on quality of life and mental well-being.

However, there is something more profound that nature offers - sustainability. The convergence of urban green spaces with constructed habitats assists in countering the debilitating effects of climate change. Apart from enhancing our physical and mental well-being, green spaces serve as natural coolants, reducing the effect of the urban heat island phenomenon, and ultimately decreasing energy consumption and costs. Moreover, the study highlighted waste management as a significant concern for potential homebuyers. It found that 73% of respondents considered waste separation and storage as elements of moderate to extreme importance. Evidently, the enhanced enforcement of waste separation regulations in Malta has fostered this necessity among the populace.

The idea of community building, a fundamental aspect of sustainable housing, was another key result in the study. Modern home buyers in Malta are seeking not just houses, but desirable living environments. Buyers now consider proximity to key amenities like shops, clinics, entertainment districts, and transport hubs as crucial contributing factors to community welfare and overall quality of life.

But what does this mean for future home buyers and those considering moving to Malta?

The ramifications of this study are broad and substantial. As more Maltese residents and potential migrants to Malta place increasing importance on sustainable practices and features, it impacts the real estate industry significantly. Developers will be impelled to incorporate sustainable elements in their projects, translating premium sustainable features into viable investments that invariably add to a property's value. For a homebuyer, this means the potential for greater capital appreciation. For someone planning to move to Malta, it promises an enhanced quality of life with easier access to green spaces, sustainable housing, waste management systems, and well-planned amenities within easy reach.

Given the results from the 2023 Eurobarometer survey, it is clear that proximity to nature plays a crucial role in residents' quality of life, with 49% of Malta's population expressing difficulty in accessing nature. This difficulty extends to accessing green spaces, which contribute significantly to residents' health and overall well-being. Delving into the topic of sustainability, the study indicated that the separation and storage of waste hold considerable importance to prospective buyers in Malta. A significant 73% viewed waste separation and storage as matters of moderate to extreme importance, reflecting an increased awareness and understanding of sustainable practices.

From these insights, we can discern a perceptible tendency towards sustainable living. Both residents and prospective homeowners acknowledge the importance of integrating nature into their daily lives and prioritizing responsible waste management. As demand grows for sustainable housing, the responsibility falls on developers to respond and evolve. Forthcoming construction projects may lean towards prioritizing easy access to green urban spaces and offering improved communal waste separation and storage facilities, reinventing daily waste disposal ways. Rather than residents following a weekly schedule, the option of daily access to communal waste separation zones might become the norm.

Sustainability differentiates Malta, attracting residents who are committed to an eco-conscious lifestyle and bolstering its reputation as a haven for sustainable living. The provision of green spaces, daily waste management solutions, and other sustainable living alternatives will be vital to ensuring satisfaction among Malta's residents. "Building with Purpose" is not simply a study. It reflects homebuyers' attitudes towards sustainable development and community living—trends that will affect the entire housing market for years to come. As we march towards a future increasingly marked by climate change, this could very well be the blueprint for smarter, greener, and more sustainable living in Malta.