Planners' Association: PA has failed to regulate the development market
The Planning Authority has failed to rein in the development market, which is incapable of regulating itself, Malta Planners' Association president Bjorn Bonello said on Saturday.
He was speaking during a joint press conference organised by Flimkien għal Ambjent Aħjar, Moviment Graffitti, the Malta Planners' Association and the Malta Touristic Association in front of Sirdar House.
The old townhouse, located within the St Julian’s urban conservation area, is currently facing demolition plans that seek to turn it into a three-star hotel.
Saturday's event was held to highlight cases such as this and other similar ones in the area, which activists and lobby groups say are irredeemably ruining the area.
“The PA used to carry out forward planning studies, but these are not happening as often as they should, maybe because they would uncover facts that show concretely that we are biting off more than we can chew,” he said.
Bonello also warned that the current situation was displacing young people who are ending up with negative equity, meaning they are buying homes at higher prices than their actual value.
“This could have a huge impact on the sustainability of our banks if we...