Regeneration or speculation? A socio spatial analysis on liveability within Valletta

Abstract

There is little doubt that the true success of urban regeneration lies in achieving long term liveability. Cities must be liveable to achieve a socio-economic balance, which often tends to shift in favour of short-term economic gains. Interventions, branded as being regeneration projects, thus become largely speculative. The introduction of regeneration-focused infrastructure results in socio-spatial impacts that need to be understood and addressed. Such impacts are more significant when stakeholder objectives, and resultant policies, are centred on the creation of urban magnets to attract individuals to particular land uses. The measure of success for these projects tends to prioritise, somewhat narrow-mindedly, urban vitality, which often occurs at the expense of spatial appropriation. A land-use focus to regeneration is furthermore fragile because it skews housing market conditions, exploited by speculators who ride on the wave of cultural infrastructure and newfound ‘urban buzz’. In turn, this generates affordability issues and subsequent gentrification-related phenomena such as displacement. This paper investigates the above themes in relation to Valletta, Malta’s capital city and administrative, cultural, and touristic centre, as well as recent European Capital of Culture (ECoC), which title is believed to have substantially accelerated private investment and the city’s commercialisation. An increase in tourists and new affluent city users was reflected in a demand for short-term rentals, land use changes, and soaring property prices; exposing the city’s affordability and liveability to speculation, facilitated by planning policies. This has led numerous authors to label Valletta as a gentrified city. The paper contextualises liveability within broader urban regeneration objectives and introduces Valletta as a case study, highlighting its changing socio-economic nature. It then discusses the above phenomena, singling out the issue of spatial appropriation in relation to socialisation and inclusion. By taking some pertinent examples, the authors question the forces at play and whether one could claim that Valletta has become gentrified. The city's metamorphosis highlights the crucial role of governance and policymaking in prioritising liveability as opposed to simply reacting to fluctuating short term market demands. In this spirit, the paper concludes with some key observations directed at future policymaking for urban regeneration.