The Malta Independent 21 July 2026, Tuesday
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One Hefty profit

Malta Independent Sunday, 20 November 2005, 00:00 Last update: about 22 years ago

From Mr C. Camilleri

Marisa Micallef’s contribution “Having your ‘imqaret’ and eating them” (TMIS, 13 November), prompted me to write this short incident.

A friend of mine who wants to buy his own residence went to view a former government apartment that was bought about 15 years ago for the paltry sum of Lm5,000. He was more than surprised when he was told by the owner that the selling price was Lm55,000.

If the apartment is actually sold at this price, the owner makes a hefty profit of Lm50,000 in less than 15 years. I do not know whether the owner is bound to at least return the subsidy given by the Housing Department when he purchased the apartment.

I hope our Housing Authority does take into consideration the taxpayers’ interests and impose safeguard conditions against abuses with public money when it doles out apartments.

The middle class, who the Chairperson has so much at heart, does not like people making a profit out of their hard-earned wages.

Carmel Camilleri

PAOLA

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