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 and entrepreneurs.
But what about living in Malta?
If you are thinking about starting a business, applying for a Maltese passport under the Citizenship by Investment Scheme, or applying for permanent residence under the Malta Golden Visa Scheme, you should also read more about living in Malta, schemes or applying for permanent residence under the Malta Golden Visa program.
A good meal in Malta is around €20 including wine or a coffee. Cabs or Ubers are also plentiful in Malta – these are also relatively cheap. Hardly surprising, since the island of Malta is a small island state with an area of 246 km².
The housing situation in Malta
The housing situation here is quite wonderful, and it is still very easy to find a good place to live. Renting a property will account for a large part of your living expenses. A one-bedroom apartment in the city center costs on average €833.91 per month, whereas apartments on the seafront start from €1,000 per month. If you live a little outside the center, you can find the same apartment for €680. Another factor in the cost of living in Malta is the utilities such as water and electricity.
An 85-square-meter apartment costs about 84 euros per month for simple electricity and water bills. You can get a decent high-speed broadband connection for around €34 per month, sometimes with a landline and TV channels. This is usually 60MB or more, depending on the package.
Also interesting: in Malta, apartments are not advertised in square meters as in Germany, for example, but rather according to the number of bedrooms. Also, Maltese apartments are usually already fully furnished. This means that you do not have to plan for expensive transportation costs when moving to Malta, but can move into an apartment that is ready for occupancy.
Transportation in Malta
There is a network of bus routes covering the entire island and Gozo. A single ticket costs 2 euros, but you can also buy a weekly or monthly pass for better value.
As of October 1, 2022, Malta Public Transport’s day routes, night routes, and special services will be free for all holders of a personalized Tallinja Card. The update will be automatic, however, passengers must tap their personalized Tallinja card on the ticket machine each time they board the bus. Passengers who board the bus without a Tallinja card must pay for their ticket in cash or contactless payment when boarding.
The Tallinja Card is an intelligent bus card designed to make using the bus easier. The card is personalized with your photo and name and can be easily reloaded with credit online, through the free Tallinja app, or at one of our sales outlets. Your credit does not expire. As of October 1, 2022, holders of a personalized Tallinja Card can travel for free on day routes, night routes, and special services.
Groceries in Malta
The cost of grocery shopping depends on your tastes and how many people you’re feeding. For a person eating a healthy, fresh diet (including meat, vegetables, fish, and dairy products) this will cost about 100 euros per week. Of course, this number could be lower or higher, depending on how much you can afford to live on.
A snack costs an average of 10 euros per person, including a soft drink. Of course, the price is between 6 and 20 euros, depending on the restaurant. There are many takeaway and delivery restaurants, as well as various delivery apps.
As a person living in Malta with twice-weekly takeaways, weekend dining at restaurants, gym memberships, monthly bus passes and accommodation, you can expect to spend around €1558 per month. This will provide you with a first-class standard of living including exercise, socializing, and living in a convenient central location. When it comes to the cost of living, this is a respectable figure for an EU member state in an amazing environment.
Supermarkets in Malta
Besides Lidl, there are other large supermarkets in Malta such as Greens, PAVI Supermarket, or Welbee’s. Besides the big supermarkets, there are many small kiosks in Malta where you can get the most important groceries for everyday use, mostly within walking distance.
In addition to the many small and large supermarkets, there are also a number of fruit and vegetable stands where you can find a huge selection of fresh fruits and vegetables.
Malta is very popular with small business owners and entrepreneurs looking to start a business quickly and easily without much tax stress.
Conclusion
Malta is an attractive location for foreign investment and entrepreneurs due to its strong economy, stable political and social environment, and welcoming business community. The cost of living in Malta is average to low compared to other EU countries. Good food usually costs around €20 including a drink, and cabs and Ubers are also relatively cheap. Housing in Malta is good; rents for apartments in the city center can be more expensive, while apartments outside the center are cheaper. The cost of living in Malta includes utilities such as electricity and water. There is a well-developed bus network and also a number of car rental companies on the island. Malta is therefore justifiably very popular with small business owners and entrepreneurs who want to set up a business quickly and easily without much tax stress.
Disclaimer: The above-mentioned article is simply based on independent research carried out by Dr. Werner and Partner and cannot constitute any form of legal advice. If you would like to meet up with any of our representatives to seek further information, please contact us for an appointment.
