The Cost of Living in Malta | An Expert Guide

Malta, an archipelago nestled in the heart of the Mediterranean Sea, combines historic charm with modern European living. With a population of just over 500,000 people spread across three main islands, Malta offers a unique blend of Mediterranean lifestyle and European standards. The country has become increasingly popular among expats and digital nomads, drawn to its year-round sunny climate, English-speaking environment, and strategic location within the European Union.

Malta's economy has shown remarkable resilience, driven by strong financial services, iGaming, and tourism sectors. The country has experienced significant economic growth in recent years, though this has led to increased living costs, particularly in popular areas like Sliema, St. Julian's, and Valletta. Despite rising prices, Malta still maintains relatively competitive living costs compared to many Western European nations.

The expat community in Malta is substantial and diverse, with many professionals working in the iGaming industry, financial services, and technology sectors. Popular expat areas include Sliema, St. Julian's, and more recently, areas like Msida and Gzira, which offer slightly more affordable options while maintaining easy access to business hubs.

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Regional Comparison

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Housing Costs in Malta

Housing costs in Malta have risen significantly in recent years, particularly in prime locations. In Sliema and St. Julian's, a one-bedroom apartment typically ranges from €800 to €1,200 per month, while similar properties in areas like Msida or Gzira might cost between €600 and €900. Purchase prices in premium areas can reach €3,500 per square meter, while more affordable regions might average €2,500 per square meter. New developments, particularly in Special Designated Areas where foreigners have equal buying rights, command premium prices.

Summary:

• Rent, 1-bedroom apartment (Sliema/St. Julian's): €800-1,200/month
• Rent, 1-bedroom apartment (other areas): €600-900/month
• Purchase price (premium areas): €3,500/m²

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Food Costs in Malta

‍Food costs in Malta reflect a mix of local and imported products, with local produce being generally more affordable. A meal at an inexpensive restaurant typically costs €12-15, while a three-course meal for two at a mid-range restaurant ranges from €50-70. Monthly grocery expenses for one person average €300-400, with prices higher in tourist areas and lower at local markets like the Marsaxlokk fish market or the Ta' Qali farmers' market.Summary:

• Meal at inexpensive restaurant: €12-15
• Monthly groceries (1 person): €300-400
• Local market produce: Generally affordable

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Transportation Costs in Malta

‍Public transportation in Malta is relatively inexpensive, with a comprehensive bus network serving the entire island. A single bus ticket costs €2 in summer (€1.50 in winter), while a monthly pass is approximately €26. Taxis and ride-sharing services are widely available but can be expensive, with short trips starting at €10-15. Many expats find that public transportation is sufficient, though some choose to purchase a car despite high import taxes and parking challenges.Summary:

• Public transport, 1 ticket: €1.50-2.00
• Monthly bus pass: €26
• Taxi start: €10

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Healthcare Costs in Malta‍

Healthcare in Malta follows a two-tier system with public and private options. While public healthcare is free for EU residents and those covered by Malta's national insurance, many expats opt for private insurance, which typically costs €300-600 annually for basic coverage. Private consultation fees range from €20-40, while specialist visits can cost €60-100.Summary:

• Private health insurance: €300-600/year
• Private GP visit: €20-40
• Specialist consultation: €60-100

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Utility Costs in Malta‍

Utility costs in Malta can be significant, particularly during summer months when air conditioning is essential. Monthly utilities including electricity, water, and gas for a one-bedroom apartment typically range from €80-150, depending on usage and season. Internet services cost €25-40 monthly for high-speed connections, while mobile phone plans with data typically range from €20-35 per month.Summary:

• Basic utilities (1-bedroom): €80-150/month
• Internet: €25-40/month
• Mobile phone plan: €20-35/month

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Entertainment and Leisure Costs

‍Entertainment costs in Malta vary widely, with many free or low-cost options available, particularly during summer festivals and cultural events. Cinema tickets cost around €8-10, while gym memberships range from €40-60 monthly. Beach clubs and premium entertainment venues, particularly in St. Julian's, can be expensive, with entry fees and drinks comparable to other European tourist destinations.Summary:

• Cinema ticket: €8-10
• Monthly gym membership: €40-60
• Cultural events: Often free or low-cost

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Example Monthly Budget for Malta

‍Basic living expenses for a single person in Malta might include:

• Rent (1-bedroom, moderate area): €700
• Utilities: €100
• Food: €400
• Transportation: €30
• Healthcare (private insurance): €40
• Internet and Mobile: €50
• Entertainment: €200
• Total: €1,520

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Cost of Living vs Quality of Life Correlation

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If you want to know more about Malta and the cost of living there you can also check out the Malta page.