Cost of Living in Malta in 2024: The Ultimate Guide

If you’ve ever considered living in Malta, you’ve probably wondered what the general expenses there might be. We’ve contacted some of our local partners who live in Malta, as well as other expats, and came up with a full guide regarding the cost of living in Malta. In this article, we cover:

• Understanding the cost of living in Malta
• Renting and buying property
• General costs in Malta
• The cost of utilities
• Eating and dining out in Malta
• Maltese commuting costs
• Healthcare in Malta
• The weekly shop in Malta

Understanding the Cost of Living in Malta

Malta is a small island-nation that manages to make the most out of its location in the Mediterranean sea. Those who reside in this beautiful archipelago get to enjoy its glorious weather with sunshine all year round. The country offers its residents and tourists a diverse cuisine, exquisite culture, numerous historic sites, and unimaginably beautiful views.

From the bustling and energetic lifestyle found in the capital, Valletta, to the more sedate pace of life lived on the island of Gozo, Malta has something to attract everybody. While you might think life would be expensive in a European country by the sea, you’ll be surprised to find that the cost of living in Malta for a single person or a family is actually very affordable compared to other EU countries. It is partly due to this reason that people are increasingly choosing to relocate or retire to this little Mediterranean gem.

Renting and Buying Property

If you have never lived in Malta before, it is advisable to rent before you buy property. This will give you the opportunity to explore the country for an ideal location, and experience the different lifestyles it has to offer as well. By exploring Malta’s islands and neighborhoods, you’ll learn all about Malta, and gain a comprehensive idea regarding the cost of living across its cities before fully committing to your relocation.

Generally speaking, rent is often much cheaper in Malta than in other EU countries. This is particularly the case in areas outside of the city center, which is why a lot of people who choose to invest in Malta scout out those locations. Choosing the right area to live in is an essential part of the immigration process, particularly is you’re considering placing a foreign investment under the Malta citizenship by investment program.

General Costs in Malta

How Much Does Rent Cost in Malta?

Renting a place in Malta compared to other European countries will give you a lot more for your money. Although prices vary across the country, a fully furnished one-bedroom apartment in Valletta can be rented for as little as €680 per month. A similar property would set you back at least €2,157 in London on average, or cost upwards of €4,100 in New York, and probably wouldn’t be fully furnished.

Although prices in London are far higher on average than in the rest of the United Kingdom, rental prices in Malta are 22.6% cheaper than in the UK. In general, the cost of living in the UK compared to Malta is about 16% higher, excluding rent.

Moreover, Malta’s cost of living compared to US averages is shockingly low. Rent alone is 68.5% lower than in the United States, which makes the low cost of living in Malta a big draw for students, investors, and families.

The Malta study visa offers the ultimate opportunity for students wanting to get a quality education, learn more about a different country, and enjoy the lower cost of living in Malta. If one looks at the cost of living for international students in Malta, there is a big difference in estimated monthly costs for many third country nationals.

Considerations that affect rental prices

• Property location: A property’s location heavily affects its price. A city center or beachside apartment will cost more than a place on the edge of the city or in a more rural setting. While you get more for your money by choosing to live away from the tourist hot spots, Malta’s excellent transport links mean that you will not feel like you are missing out.
• Property type:  You may choose to live in a modern apartment instead of an older building with ancient architecture so that you can avoid additional maintenance costs.
• Property size:  Think about what you need before you begin your property search in Malta. If you’re traveling solo, you may get by with a one bedroom apartment, further reducing how much you spend a month in Malta.
• Property market demand:  The cost of living in Malta varies significantly based on the location of the property. Do your research to explore whether the location is seasonally popular or if the area is experiencing an economic boom as these factors affect property prices in Malta significantly.

How Much Do Utilities Cost in Malta per Month?

Monthly costs of utilities including electricity is a lot more affordable in the archipelago than the UK or US, which also helps in keeping the general cost of living in Malta down. On average, the estimated monthly cost for utilities for an 85 square-meter apartment in the US is around €185 euros which includes gas, electricity, and all your other services. Over the same period, a similar-sized apartment in Malta will cost a little over €91 to run.

While many aspects of the day to day life are far more affordable in Malta, communication costs can be more expensive to run here, specifically when it comes to mobile phones. For example, in Malta the estimated monthly cost for a basic mobile phone contract with calls and 10GB data will set you back around €25, in the UK you would pay €15, while in the US the same contract would cost €49, so it really depends on your home country and what you’re accustomed to.

How Much Does It Cost to Dine out in Malta?

As the Maltese tourism sector began to boom in the past few years, prices for certain luxuries increased respectively. While restaurant prices in Malta are generally 16% lower than in the USA, with a meal at an inexpensive restaurant costing you 19% less than it would in the US, dining out at a mid-range restaurant in Valletta might set you back 10% more than it would in Los Angeles, New York, or other cities.

Nevertheless, the major difference isn’t actually depicted in price when it comes to this aspect of living, rather is found in the quality of the food. Being a small coastal island, Malta takes advantage of the fresh food on its doorstep, and has plenty of incredible restaurants to enjoy a diverse range of cuisines at, whether they are mid-range, or street food restaurants.

How Much Does Public Transportation Cost in Malta?

Malta is a small island with a reasonably priced – and extensive – transportation system that covers almost all of its grounds. As a result, many expats find that they are able to live there without owning a car. This saves them thousands every year on insurance, MOT, and general running costs, when compared to other European countries. This also contributes to the overall low cost of living in Malta.

If you’re only visiting Malta for a short time and choose to have your commutes using local transport, you might want to buy a one-way ticket for each journey around the island, or a weekly pass, or a monthly pass, depending on the length of your stay. A one-way ticket in Malta will cost you about €2. This is almost two thirds the price of an equivalent journey in the US.

A monthly pass on the other hand will cost you a little over €15. It can be quite useful if you are commuting across the island daily. Commuters in the UK will pay about €82 for a similar pass, which means that the cost for transportation in Malta is more of a quarter less than in the UK, and the USA.

How Much Does Healthcare Cost in Malta?

The quality of medical services available in Malta is excellent, and while you do have to pay for health insurance, it is far more affordable than in other countries, particularly the United States. While Maltese residents and citizens can access the nation’s excellent medical services for a contribution no greater than €50 monthly, a lot of them choose to pay into private health insurance as they offer a better range of options and security, and have shorter waiting times. Others are sometimes enrolled in private health insurance operated by their employers, which usually gives them extended free healthcare at a significantly discounted price.

Free Healthcare in Malta, For All?

If you are a EU citizen with an E121 form, healthcare is considered free for you in the archipelago. Which, particularly for the elderly or ill, can help in keeping the cost of living in Malta down. Simply use the E121 form to get a Certificate of Entitlement. If you are just visiting Malta, then the highly recommended European Health Insurance Card will provide the same level of cover.

Medicine Prices

While the cost of living in Malta is generally lower than in other European countries, one specific aspect of living that is priced at a higher rate than it should be is the purchase of prescriptions and over the counter medicines. This is because the majority of items have to be imported.

What Is the Average Cost of Groceries in Malta?

Depending on how many people are in your household you may find yourself spending anywhere between €180 to €370 a month on food. Food prices, as well as the monthly costs of other products such as household cleaners, may not seem that much lower here than other countries, but that does not overly increase the cost of living in Malta.

In fact, compared to other European countries like the UK, Malta’s groceries cost 11% less and compared to EU countries like Italy, Malta’s groceries cost 12% less. The biggest difference in cost for groceries is seen in the US, with groceries costing 42% more than Malta.

While the cost of groceries in Malta is less than other EU countries, it’s not what one would expect considering the other monthly costs. This higher price tag is partly because of the import costs.

However, there are savings to be made. You can keep the cost of living in Malta even lower by purchasing local or imported Italian products instead of familiar brand-names. Additionally, farmers markets and fresh food stalls offer great value for money as the food production and transportation costs are exponentially lower.

Malta Cost of Living vs The UK

The cost of living in Malta vs the UK are quite different, let’s take a look at four estimated monthly costs to provide some insight:

• Monthly rent (Furnished 1 bedroom apartment in the city center): Malta: €944 vs UK: €1,250
• International primary school annually (One child): Malta: €8,400 vs UK: €17,500
• Meal for 2 People (Mid-range Restaurant): Malta: €70 vs UK: €71
• Public transportation (Monthly): Malta: €15 vs UK: €82

As you can see the cost of living in the UK vs Malta can vary quite significantly depending on what you’re looking at. Rent, transportation, and education are significantly cheaper in Malta compared to the UK.

Frequently Asked Questions About the Cost of Living in Malta

Is the cost of living in Malta low?

The overall cost of living in Malta is significantly lower than in the United Kingdom and the United States. While some things such as prescription medicines are more expensive the overall cost is far lower.

Is it expensive to live in Malta?

When you compare the cost of living in Malta to other countries in Europe or across the world, specifically the United Kingdom and the USA, you’ll find that life is a lot more affordable in the archipelago.

How much money do you need to live in Malta?

A couple could easily live well on a monthly budget of €2,600 in Malta. They’ll be able to enjoy good food, nights out, and a lovely home in a gorgeous location.

How cheap is living in Malta?

On average, the cost of living is around 17% cheaper than in the UK, and 27% cheaper than in the USA. However, this number may not properly depict the large difference in monthly rent, which is almost half of rental costs in the USA.

How much is the monthly rent in Malta?

A fully furnished one-bedroom apartment in Valletta, the capital of Malta, can be rented for as little as €850 per month.

Is Malta tax free?

Malta’s tax system considers your domicile and residence status, and the country provides residents with the perks of double taxation treaties. Malta has a lower tax rate than in most EU countries, and has no taxes on inheritance, gift, property, or capital gains.

How much does a meal cost in Malta?

A meal at an inexpensive restaurant might be around €15 per individual, while a three-course meal at a mid-range restaurant for two people will be upwards of €60.

Is Malta cheaper than Italy?

Yes, Malta is cheaper than Italy, however by a margin. The only time you would sense the difference between the two is when it comes to rental prices, as monthly rent in Italy is around 21% lower.

What is the average house price in Malta?

The average price for an apartment in the city center is €3,491.32 per square meter, and €2,519.02 outside of the center.

Is it cheaper to live in Malta than the UK?

Malta prices compared to the UK are a lot cheaper. The United Kingdom is actually 17.7% more expensive than Malta.

What is the average cost of living in Malta for a single person in 2024?

A single person living in Malta who regularly enjoy takeaway meals twice a week, dines out on weekends, maintains a gym membership, use a monthly bus pass, and pays for accommodation, can expect to spend around €1,500 per month.

How much does healthcare cost in Malta for expats?

Medical services in Malta are fantastic for citizens free of charge. Those on the Malta Permanent Residence Programme will need health insurance, while those from EU and EAA countries can obtain the European Health Insurance Card. However, private health insurance is always recommended for peace of mind and costs as little as €50 per month.