Navigating the Cost of Living in Malta

23rd October 2023

Budgeting and Expenses

When considering a new destination for your life or investment, understanding the cost of living is a crucial piece of the puzzle. In the heart of the Mediterranean lies the enchanting archipelago of Malta, known for its rich history, stunning landscapes, and vibrant lifestyle. But what about the practicalities? In this guide, we embark on a journey to uncover the realities of the cost of living in Malta. Whether you're contemplating a move or exploring real estate opportunities, gaining insights into the financial aspects of life on these captivating islands is essential. From the historic streets of Valletta to the tranquil shores of Mellieha, join us as we delve into the practicalities of living in Malta.

Valletta: Malta's capital, Valletta, known for its historical charm and UNESCO heritage, boasts higher property prices due to its cultural significance and prime location, offering an exclusive urban lifestyle.

Sliema and St. Julian's: These coastal cities, renowned for bustling lifestyles and seafront promenades, have relatively expensive accommodation, especially seafront properties, providing dynamic urban living.

Mellieha: Located in the north, Mellieha offers a cost-effective alternative with more affordable property prices, ideal for those seeking a tranquil coastal lifestyle while maintaining budget-friendliness.

These cities reflect Malta's diverse real estate market, catering to various preferences and budgets. From Valletta's historical significance to Sliema and St. Julian's urban vibrancy and Mellieha's coastal charm, Malta offers an option for every lifestyle.

As well as a property you might need groceries for living which are moderately priced. Depending on your lifestyle you can expect to spend around 150 to 250 per month for living when you cook at home or if you are a family it can increase according to the number of people.

Dining outside in the restaurants or cafes can vary but in restaurants or cafes with affordable options it might get more expensive. 

Utility costs, including electricity, water, heating, and cooling can vary depending on factors like location, apartment size, energy efficiency and personal usage habits.

Malta has a progressive income tax system, and the rates will depend on your individual’s or family’s total income levels. Typically, in a progressive income tax system, individuals with higher incomes are subject to higher tax rates, while those with lower incomes pay lower tax rates. 

If you're not an EU citizen and plan to live in Malta long-term, you may have to pay fees related to residence permits and visas

Public transportation in Malta is relatively affordable. You can buy a card for the buses called Tallinja card which is rechargeable. Taxis and ride-sharing services like for e.g.: Bolt, Uber or eCabs are available but can be more expensive. You can also use ferries as transportation. 

The public healthcare system in Malta provides services to residents. Medical care in public hospitals is subsidised, and some services may be free or require a nominal fee. However, many expats and residents also opt for private health insurance for additional coverage. 

If you have children, the cost of education can be a significant factor. Malta has both public and private schools, with private schools typically charging tuition fees. The fees vary depending on the school and grade level. Some private schools offer different educational approaches. 

The cost of entertainment in Malta varies, but there are many free or low-cost options, such as outdoor activities and cultural events. Going to the cinema, visiting bars, or attending concerts and other paid events will incur additional expenses. 

In conclusion, understanding the cost of living in Malta is not only about numbers; it's about finding the perfect balance between your lifestyle preferences and your financial goals. Whether you're considering property investment or looking for a new place to call home, Malta offers diverse choices that cater to different budgets and tastes.

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