Cost Of Living In Malta – A Local's Guide

Malta is a beautiful archipelago located in the southern Mediterranean. A fully-fledged EU Member state with a strong economy, stable political and social environment, and a welcoming business scene, it's become a prime jurisdiction for foreign investment. But what about living there? Whether you're considering setting up a business or acquiring a Maltese passport through the country's Citizenship by Investment Regulations or Permanent Residency through the Malta Golden Visa Programme, these are the facts and figures you need to consider.

• Summary of monthly expenses
• Summary of other general expenses
• Summary of leisure expenses

Cost of living in Malta: monthly expenses

Rent

Renting a property will account for a large part of your living expenses. A one-bedroom apartment in the central areas (Valletta, Sliema, St Julians) will cost on average €833.91 per month. If you move slightly out of the centre, you can find the same property for €680. If you opt for a 2 bed, you are looking at around €1000, and €1300 plus for a three bedroom.

Utilities

Another consideration for the cost of living in Malta is the utilities such as water and electricity. For basic electricity and water usage (such as heating, cooling, water, cooking, etc.) in an 85 square meter apartment, you can expect to pay around €84 per month. Of course, if you use AC in the summer and a lot of heating in the winter, this could be higher.

Internet and mobile phone plan

You can get a decent, high-speed broadband connection for around €34 a month, sometimes with landline and TV channels thrown in. This is typically 60mbs or more, depending on your package. Mobile phone operators offer various tariffs for usage, but you can expect to pay €0.30 a minute for calls.

Transportation

There is a network of bus routes that cover the entire island and Gozo. A one-way ticket is €2, but you can also buy weekly or monthly passes that give much better value.

Groceries

The cost of food shopping depends on your tastes and how many people you're feeding. For one person, eating a healthy, fresh diet including meat, vegetables, fish, and dairy, the cost would be around €100 per week. Of course, this figure could be lower or higher, depending on personal preferences how much you can afford to spend out of your living expenses.

Restaurant

A meal for one in an inexpensive restaurant cost around €15. This increases to €30 for mid-priced, and the sky's the limit for high-end. There is a good selection of restaurants, including Maltese, Italian, French, Middle Eastern, Asian, and American cuisine.

Takeaway

A takeaway for one person will cost on average €10, including a soft drink. Of course, prices range from €6 to €20, depending on the restaurant. There are many takeaways and restaurants with delivery as well as various delivery apps.

Gym membership

There are a variety of gyms spread around the country. Some offer special classes and facilities such as spas, saunas, and swimming pools. A standard monthly package at a gym in a central area will cost you €50 per month.

Total

As an individual living in Malta and enjoying a takeaway twice a week, a meal in a restaurant at the weekend, gym membership, a monthly bus pass, and accommodation, you can expect to spend approximately €1558 per month. This will give you an excellent standard of living, including exercising, socializing, and living in a convenient central area. When it comes to living expenses, this is a respectable figure for an EU member state in stunning surroundings.

Summary of monthly expenses

Cost of living in Malta: other general living expenses

Taxi

For airport trips, journeys home after a night out, or those days when you just don't want to drive, taxis are a great solution. Taxis are around €6 for the first kilometer and an additional €2 per kilometer after that. There are a variety of app-based services as well as regular taxis that you can use. For example, a 10km journey will cost €22.

Car Fuel

There are many ways to get around and this includes by car. One litre of petrol is around €1.40 at the time of writing. It would cost €70 to fill up the tank of the average car with petrol. Diesel comes in at around €1.21 and there are stations where you can charge your electric car as well.

Private doctor

Public hospitals are efficient and modern, but there are times you may prefer to visit a private GP or specialist. The cost of visiting a private doctor depends on what kind of doctor they are. You can expect to pay between €20 for a GP visit, to €50 or €60 for a specialist.

Cleaner

With a busy work and social life, you might be thinking of hiring help. You can hire someone to clean your home and take care of household chores for between €8 and €15 per hour. You can expect to pay the lower price for general cleaning, but towards the higher end for ironing and organising. To hire a basic cleaner to come once a week would cost you €192 a month.

Coffee

If you are a coffee lover and enjoy a cup in one of the many catering establishments in Malta, a regular cappuccino will cost you in the region of €2.20 in most cafes and bars, equivalent to around €66 a month if you take one a day.

Beer

Malta has a lively social scene including bars, nightclubs, and various social events. A bottle or can of beer will cost approximately €3.00. Over a month, this could cost you around €36 if you venture out once a week.

Bottle of wine

Malta has its own good quality wines but also imports some of the region's finest. If dining in a mid-priced restaurant, a bottle of good-quality wine will cost around €20.00.

Total

To enjoy added extras such as a nice bottle of wine in a restaurant or having a cleaner help you with domestic chores, you should allow for an extra €486 a month, in total. Of course, these are all optional and will depend on your needs and circumstances.

Summary of other general expenses

Other leisure expenses

But there is so much more to living in Malta than just the day-to-day expenses. The islands are full of great things to do, including boat trips, visiting the sister island of Gozo, and trips to the cinema.

Going to Gozo

Living in Malta means it's effortless to visit the neighbouring island of Gozo on the same day or for an overnight visit. Travel on the ferry will cost you under €2.5 as a foot passenger, and €20 if you take your car. The trip takes around 25 minutes, and ferries run regularly during the day and night.

Hiring quad bikes

If you want to explore the islands from a different perspective, why not hire quad bikes? Prices start from around €70 for the day.

Going to the cinema

Malta has several cinemas serving customers from around the country. On average, a ticket will cost you €6.

Hiring a car

Day rates for hiring a car range between €16 and € 28, depending on the model and where you hire it from. This is less than the EU average, demonstrating that the cost of living in Malta is highly competitive.

Boat cruises

Being an island nation, it's no surprise that boat trips are very popular in Malta. Prices start from around €15 for harbour cruises and can include luxurious day trips on private yachts. You can also use the ferry in The Three Cities for a few euros.

Total

To add some extra excitement into your life costs around €161 a month. This includes a day trip to Gozo with a hired car, a €50 day trip on a boat, a cinema trip, and a day of quad biking.

Summary of Leisure expenses

The cost of living in Malta is somewhere in the median range at €2,205 for one person per month. According to data collected by Numbeo, it ranks 53rd most expensive out of 237 European cities. It remains significantly cheaper than many western European countries like France, Sweden, the UK, Netherlands, Ireland, and Germany. Not only that, but it offers the dream of Mediterranean island life.

Of course, our calculations here are based on a somewhat middle-class way of living. It's more than possible to live on significantly less, and also to far exceed our figures. It all comes down to your personal preferences and capacities. Malta remains a prime location for foreign nationals to live, visit, and set up businesses in various sectors.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.