Momentum is calling on the government to introduce a new tax on vacant residential properties in Budget 2027, arguing that thousands of empty homes should be brought back onto the market.The party is proposing a Property Speculation Tax, which it says would target people holding multiple vacant properties rather than ordinary homeowners.Under the proposal, a person’s main home and one additional vacant property, such as a summer residence, would be exempt. Registered rental properties, commercial properties, offices, garages and warehouses would also fall outside the proposed tax.Momentum said families who redevelop their home to build apartments intended as future residences for their children would also be exempt.The proposed charge would be tiered according to the property’s size and how long it remains vacant, using utility meter multipliers. The longer a property is left empty, the more its owner would pay. Momentum says all revenue generated should be directed towards social housing projects.“Thousands of homes sit empty while young people and couples cannot afford to rent, let alone buy,” Momentum Executive Committee member Natasha Azzopardi said.“We do not want to punish people who own a home or a summer house. The Property Speculation Tax targets those who hoard property as an investment and keep it off the market. Empty homes should be lived in.”Momentum says the measure would also discourage developers from building beyond actual market demand and subsequently holding properties at high prices.Do you think owners of multiple empty properties should pay a tax to help tackle Malta’s housing crisis?•