Cost Of Living in Malta 2024

Average monthly spending for singles, couples, students, and families in Malta

Whether you're living in Malta or planning to move there, it is very important to know the cost of living and the prices of things. Here we list the average spending for the four main population groups.

Average Monthly Expenditure

4,100 EUR

per month
$4,500

320 EUR   $340
$45,000   41,000 EUR

Single

2,900 EUR

per month
$3,100

950 EUR   $1,000
$21,000   19,000 EUR

Couple

4,800 EUR

per month
$5,200

1,600 EUR   $1,700
$28,000   25,000 EUR

Family

6,300 EUR

per month
$6,900

2,200 EUR   $2,400
$38,000   35,000 EUR

Student

2,000 EUR

per month
$2,200

810 EUR   $880
$4,000   3,600 EUR
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.

Singles

The average monthly expense for a single person living in Malta is 2,900 EUR. Expenses can range from 950 EUR at the minimum level to 19,000 EUR at the highest end.


Couples

The average monthly spending of couples in Malta is 4,800 EUR. Expenditure can range from 1,600 EUR to 25,000 EUR per month.


Families

The average cost of living for families in Malta is 6,300 EUR per month. Families spend anywhere from 2,200 EUR to 35,000 EUR.


Students

The average monthly expenditure for students in Malta is 2,000 EUR. Students spend from 810 EUR to 3,600 EUR per month.


Spending behavior can change drastically from one person to another. It is best to consider the minimum, average, and maximum spending together.

Prices and cost of goods and services in Malta


Dining, food, and beverages costs


Large bottle of water
0.53 EUR 0.60 EUR 0.69 EUR
MINIMUM AVERAGE MAXIMUM
$0.57 $0.65 $0.75
Fast food combo meal
4.5 EUR 9 EUR 15 EUR
MINIMUM AVERAGE MAXIMUM
$4.9 $9.8 $16
Restaurant meal for one
15 EUR 23 EUR 45 EUR
MINIMUM AVERAGE MAXIMUM
$16 $24 $49
Fine dining meal for one
30 EUR 45 EUR 180 EUR
MINIMUM AVERAGE MAXIMUM
$33 $49 $200
Soda or Soft Drink
0.64 EUR 0.75 EUR 0.90 EUR
MINIMUM AVERAGE MAXIMUM
$0.70 $0.81 $0.98
Cappuccino or latte
3.8 EUR 6 EUR 9 EUR
MINIMUM AVERAGE MAXIMUM
$4.1 $6.5 $9.8

Grocery and market costs


Milk large bottle
3 EUR 3.6 EUR 4.5 EUR
MINIMUM AVERAGE MAXIMUM
$3.3 $3.9 $4.9
Loaf of bread
0.54 EUR 0.62 EUR 0.71 EUR
MINIMUM AVERAGE MAXIMUM
$0.59 $0.67 $0.77
12 eggs
2.3 EUR 3 EUR 4.5 EUR
MINIMUM AVERAGE MAXIMUM
$2.4 $3.3 $4.9
Fresh whole chicken
5.1 EUR 6.6 EUR 9.4 EUR
MINIMUM AVERAGE MAXIMUM
$5.5 $7.2 $10
Beef 1 kg or 1 lb
6 EUR 9 EUR 18 EUR
MINIMUM AVERAGE MAXIMUM
$6.5 $9.8 $20
Rice 1 kg or 1 lb
2.4 EUR 3.3 EUR 4.7 EUR
MINIMUM AVERAGE MAXIMUM
$2.6 $3.6 $5.1
Tomato 1 kg or 1 lb
0.90 EUR 1.2 EUR 2.3 EUR
MINIMUM AVERAGE MAXIMUM
$0.98 $1.3 $2.4
Apples 1 kg or 1 lb
1.6 EUR 2.1 EUR 3.5 EUR
MINIMUM AVERAGE MAXIMUM
$1.7 $2.3 $3.8

Commute, travel, and transportation costs


20 minutes taxi ride
3.8 EUR 4.5 EUR 9 EUR
MINIMUM AVERAGE MAXIMUM
$4.1 $4.9 $9.8
Average car full tank
23 EUR 30 EUR 60 EUR
MINIMUM AVERAGE MAXIMUM
$24 $33 $65
Average car 1-day rental
23 EUR 30 EUR 45 EUR
MINIMUM AVERAGE MAXIMUM
$24 $33 $49
Average car price
11,000 EUR 23,000 EUR 30,000 EUR
MINIMUM AVERAGE MAXIMUM
$12,000 $24,000 $33,000
Bus ticket one way
0.75 EUR 1.1 EUR 2.3 EUR
MINIMUM AVERAGE MAXIMUM
$0.81 $1.2 $2.4
Car Service
30 EUR 45 EUR 90 EUR
MINIMUM AVERAGE MAXIMUM
$33 $49 $98

Utility cost (monthly)


Utility Bill - Individual
57 EUR 170 EUR 1,100 EUR
MINIMUM AVERAGE MAXIMUM
$62 $190 $1,200
Utility Bill - Couple
79 EUR 240 EUR 1,300 EUR
MINIMUM AVERAGE MAXIMUM
$86 $260 $1,400
Utility Bill - Family
67 EUR 190 EUR 1,000 EUR
MINIMUM AVERAGE MAXIMUM
$72 $210 $1,100
Internet and cable
23 EUR 45 EUR 60 EUR
MINIMUM AVERAGE MAXIMUM
$24 $49 $65
Mobile phone charges
18 EUR 30 EUR 90 EUR
MINIMUM AVERAGE MAXIMUM
$20 $33 $98

Leisure and activities costs


Movie ticket
11 EUR 15 EUR 23 EUR
MINIMUM AVERAGE MAXIMUM
$12 $16 $24
One month gym membership
36 EUR 45 EUR 90 EUR
MINIMUM AVERAGE MAXIMUM
$39 $49 $98

Cloths and accessories costs


Pair of jeans or pants
26 EUR 38 EUR 56 EUR
MINIMUM AVERAGE MAXIMUM
$29 $41 $61
Woman dress
25 EUR 35 EUR 110 EUR
MINIMUM AVERAGE MAXIMUM
$27 $38 $120
Woman shoes
24 EUR 32 EUR 75 EUR
MINIMUM AVERAGE MAXIMUM
$26 $35 $81
Men's shoes
20 EUR 25 EUR 50 EUR
MINIMUM AVERAGE MAXIMUM
$22 $27 $54
Men suit
23 EUR 28 EUR 150 EUR
MINIMUM AVERAGE MAXIMUM
$24 $31 $160
Regular t-shirt
11 EUR 15 EUR 45 EUR
MINIMUM AVERAGE MAXIMUM
$12 $16 $49

Housing costs / monthly rent


Studio apartment
380 EUR 560 EUR 1,500 EUR
MINIMUM AVERAGE MAXIMUM
$410 $610 $1,600
1-bedroom apartment
560 EUR 900 EUR 2,300 EUR
MINIMUM AVERAGE MAXIMUM
$610 $980 $2,400
2-bedroom apartment
750 EUR 1,100 EUR 3,000 EUR
MINIMUM AVERAGE MAXIMUM
$810 $1,200 $3,300

Housing costs / Buying


Studio apartment
75,000 EUR 110,000 EUR 230,000 EUR
MINIMUM AVERAGE MAXIMUM
$81,000 $120,000 $240,000
1-bedroom apartment
90,000 EUR 150,000 EUR 560,000 EUR
MINIMUM AVERAGE MAXIMUM
$98,000 $160,000 $610,000
2-bedroom apartment
150,000 EUR 450,000 EUR 900,000 EUR
MINIMUM AVERAGE MAXIMUM
$160,000 $490,000 $980,000

Furniture Costs


King Size Bed
450 EUR 560 EUR 750 EUR
MINIMUM AVERAGE MAXIMUM
$490 $610 $810
Double Bed
300 EUR 450 EUR 560 EUR
MINIMUM AVERAGE MAXIMUM
$330 $490 $610
Single Bed
260 EUR 350 EUR 450 EUR
MINIMUM AVERAGE MAXIMUM
$290 $380 $490
Living Room
500 EUR 640 EUR 2,300 EUR
MINIMUM AVERAGE MAXIMUM
$540 $700 $2,400
Dining Table
230 EUR 300 EUR 560 EUR
MINIMUM AVERAGE MAXIMUM
$240 $330 $610
Sofa or Couch
300 EUR 410 EUR 900 EUR
MINIMUM AVERAGE MAXIMUM
$330 $440 $980

Electronics and House Appliance Costs


TV Set
300 EUR 450 EUR 900 EUR
MINIMUM AVERAGE MAXIMUM
$330 $490 $980
Fridge or Freezer
260 EUR 410 EUR 560 EUR
MINIMUM AVERAGE MAXIMUM
$290 $440 $610
Washing Machine
350 EUR 500 EUR 900 EUR
MINIMUM AVERAGE MAXIMUM
$380 $540 $980
Stove or Cooker
320 EUR 410 EUR 560 EUR
MINIMUM AVERAGE MAXIMUM
$350 $440 $610
Mobile Phone
380 EUR 450 EUR 640 EUR
MINIMUM AVERAGE MAXIMUM
$410 $490 $700
Laptop or Computer
410 EUR 500 EUR 900 EUR
MINIMUM AVERAGE MAXIMUM
$440 $540 $980

Expenditure to Income Ratio in Malta

One of the most definite ways to determine how affordable a place is measuring the ratio of expenses to salary. A high expense-to-income to ratio indicates a high cost-of-living index while a low expenditure-to-salary ratio means the place is affordable to live in.


Spending to Income Ratio

83%

74% to 92%

( expenditure / income ) x 100


Expense to income distribution levels

Spending To Income Ratio% People
< 50%6%
50% - 60%12%
60% - 70%19%
70% - 80%27%
80% - 90%15%
90% - 100%9%
100% - 110%5%
110% - 120%3%
120% - 130%2%
130% - 140%2%
> 140%1%

Interpretation and Analysis

The average spending-to-salary ratio in Malta is 83% This means that on average, people spend around 83% of their income for living. According to the distribution table, 19% of the population spend approximately 60% to 70% of their income every month.


How can spending be more than income?

A value higher than 100% means that the expenditure of those people is higher than their income. They are spending more than what they earn. This is possible in two scenarios. They are either borrowing from their savings to survive or they are borrowing from other sources (relatives, friends, banks, etc.). More about this in the debt section.



Individual
75%
Spending-Income-Ratio
67%
83%

Couple
79%
Spending-Income-Ratio
70%
87%

Family
87%
Spending-Income-Ratio
78%
97%

How do people spend their money in Malta?

We asked thousands of people about their spending habits and expenditure breaks. Below are their answers.

The percentage figures in this section are percentages of total spending not income. If you would like to see the percentage of expenses as related to income or salary, see other sections.

Housing Expenditure27%

27% of total expenses on average (16% to 35%)

LOW$100   95 EUR
AVERAGE$1,300   1,200 EUR
HIGH$13,000   12,000 EUR
Per Month

People living in Malta typically spend from 16% to 35% of their total monthly expenditure on housing with 27% being the average. The average spend on housing is 1,200 EUR with expenditure ranging from 95 EUR to 12,000 EUR. This cost mainly goes for rent but it also includes other accommodation-related expenses. Housing costs are highest for families and lowest for students as expected.

Utilities, Electricity, Water6%

6% of total expenses on average (3% to 10%)

LOW$17   16 EUR
AVERAGE$220   210 EUR
HIGH$2,200   2,100 EUR
Per Month

Utility expenditure like electricity, water, and gas in Malta ranges from 3% to 10% of total expenses with 6% being the average. The average monthly cost of utilities is 210 EUR with 16 EUR and 2,100 EUR being the upper and lower limits.

Transport, Fuel, Commute9%

9% of total expenses on average (4% to 13%)

LOW$34   32 EUR
AVERAGE$450   410 EUR
HIGH$4,500   4,100 EUR
Per Month

Fuel consumption and cost of transport depend heavily on whether you live near your work or school, but roughly speaking you would expect to spend from 32 EUR to 4,100 EUR on commuting with 410 EUR being the norm for most people in one month. This means that money spent on transport constitutes about 9% of total spending on average but can go as low as 4% or as high as 13%.

Food and Groceries Cost26%

26% of total expenses on average (18% to 32%)

LOW$86   79 EUR
AVERAGE$1,100   1,000 EUR
HIGH$11,000   10,000 EUR
Per Month

The average outlay on groceries in a month in Malta is 1,000 EUR. The cost of groceries can range between 79 EUR to 10,000 EUR. People spend on average about 26% on food and groceries with upper and lower bounds of 18% and 32% respectively.

Healthcare and Medical Services8%

8% of total expenses on average (3% to 11%)

LOW$24   22 EUR
AVERAGE$310   290 EUR
HIGH$3,100   2,900 EUR
Per Month

People in Malta allocate 3% to 11% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 8%. The range of medical expenses range from 22 EUR to 2,900 EUR with 290 EUR being the norm.

Leisure and Shopping6%

6% of total expenses on average (3% to 10%)

LOW$14   13 EUR
AVERAGE$180   160 EUR
HIGH$1,800   1,600 EUR
Per Month

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 13 EUR to 1,600 EUR with 160 EUR being the average. Speaking of percentages, that equates to 3% to 10% of total expenses with an average of 6% for most residents.

Education and Schooling6%

6% of total expenses on average (4% to 12%)

LOW$21   19 EUR
AVERAGE$270   250 EUR
HIGH$2,700   2,500 EUR
Per Month

Spending on education can vary drastically between different people. While working singles can spend 0% on education, families and students' expenditure can reach up to 22%. On average, education constitutes 6% of the monthly expenditure with 4% and 12% being the lower and upper bounds respectively. The average reported education cost is 250 EUR per month with 19 EUR being the minimum spent amount and 2,500 EUR being the maximum.

Other Expenses12%

12% of total expenses on average (7% to 19%)

LOW$45   41 EUR
AVERAGE$580   540 EUR
HIGH$5,800   5,400 EUR
Per Month

How much money can you save in Malta every month?

We asked thousands of people what percentage of their income can they save in a month. Below are the answers.


What percentage of people in Malta manage to save money from their income every month?


Saving Money
65%
Not Saving
35%

Almost 65% of the surveyed people in Malta said that they can save some money at the end of each month while 35% said that aren't saving anything.


Percentage of people saving money by population group in Malta

GroupSaversNon Savers
Singles74%26%
Couples69%31%
Families64%36%

Savings-to-Income Ratio

The savings-to-income ratio is measured as the percentage of income that people save over a specific period and it is simply calculated by dividing the saved money by total income and then multiplying the result by 100. (Savings / Income) x 100.


Saving to Income Ratio

10% 18% of income 30%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

130 EUR
$140
1,700 EUR
$1,900
17,000 EUR
$19,000
MINIMUM AVERAGE MAXIMUM

For most people, 10% to 30% of their monthly income is what they can allocate to their savings, with 18% being the average. The amount of money that people can save is approximately 1,700 EUR on average with savings ranging from 130 EUR to 17,000 EUR.

74% of surveyed singles reported some of their income going to savings while 69% of couples said the same. 64% of families confirmed their ability to save money.


How much money do people actually save in Malta?

The amount of money that people can afford to save depends hugely on their income. It is better to focus on the percentage when trying to understand saving patterns.


Singles

Saving to Income Ratio

13% 22% of income 32%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

400 EUR
$430
1,200 EUR
$1,300
8,000 EUR
$8,700
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for singles

Saving To Income Ratio% Singles
0% - 10%30%
10% - 20%24%
20% - 30%16%
30% - 40%15%
40% - 50%11%
> 50%4%

Interpretation and Analysis

Singles who can afford to save reported that they allocate from 13% to 32% of their monthly income to savings, with 22% being the average for most singles. The average amount of money that singles are able to save is 1,200 EUR with 400 EUR and 8,000 EUR being the minimum and maximum respectively.


Couples

Saving to Income Ratio

11% 20% of income 31%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

670 EUR
$720
2,000 EUR
$2,200
11,000 EUR
$12,000
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for couples

Saving To Income Ratio% Couples
0% - 10%34%
10% - 20%26%
20% - 30%19%
30% - 40%10%
40% - 50%8%
> 50%3%

Interpretation and Analysis

Couples who confirmed their ability to save reported saving equivalent to 11% to 31% of their monthly income, with 20% being the average for most couples. The average amount of money that couples can save is 2,000 EUR with 670 EUR and 11,000 EUR being the minimum and maximum respectively.


Families

Saving to Income Ratio

10% 17% of income 28%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

930 EUR
$1,000
2,700 EUR
$2,900
15,000 EUR
$16,000
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for families

Saving To Income Ratio% Families
0% - 10%37%
10% - 20%29%
20% - 30%20%
30% - 40%7%
40% - 50%5%
> 50%2%

Interpretation and Analysis

Families in Malta can save anywhere between 10% to 28% of their monthly income, with 17% being the average for most families. The average amount of money that families can put aside is 2,700 EUR with 930 EUR and 15,000 EUR being the minimum and maximum respectively.

A typical and healthy budgeting structure

The 50/30/20 rule

Spending among different people can vary significantly based on factors such as their income, lifestyle, location, and personal preferences. A commonly used guideline for budgeting is the 50/30/20 rule, which suggests allocating your income into three main categories in the following percentages.

  • 50% for needs and financial obligations

    This category includes essential expenses like housing, utilities, groceries, transportation, and healthcare.

  • 30% for wants and discretionary spending

    This category covers discretionary spending on non-essential items, such as dining out, entertainment, travel, and other lifestyle choices.

  • 20% for savings and emergency fund

    This is the percentage that must be allocated to savings, emergency funds, and retirement accounts.

About financial planning, money management, and household budgeting

The 50/30/20 rule is used as a general guideline but may not be the best choice for all people. There are in fact many budgeting plans out there like the 70/20/10 and the 60/20/20 rules, all claiming to be the best. More important than all of this is to establish financial discipline by creating a budget tailored to your specific financial goals and situation. It is very important that your financial outflow be less than your income to maintain a healthy cash flow.

Affordable living in Malta

Income and cost of living compatibility

We asked residents one simple question and recorded their answers.

Is it affordable or economical to live in Malta?


Yes
78%
No
22%

Around 78% of surveyed residents think that living in Malta is affordable with proper budgeting while 22% reported that it is just too expensive and not affordable even with frugality and thriftness.

Low-cost alternatives in Malta

People are always looking for ways to cut down expenses and reduce expenditures. The hallmark of any affordable place is the availability of discount stores, bargain deals, smart or secondhand shopping, refurbished items, and couponing. We asked residents how easily cost-cutting is and the answers were distributed as follows:

Plenty of low-cost options60%

Few low-cost options40%


Based on the survey, 60% of the people living in Malta have no problem finding low-cost alternatives to support a frugal lifestyle while 40% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.

Emergency Funds

An emergency fund is a financial safety net comprised of easily accessible savings set aside to cover unexpected expenses or financial emergencies, typically amounting to three to six months' worth of living expenses. We asked residents of Malta whether they have an emergency fund and the answers were as follows.

Yes74%

No26%


Based on the survey, 26% of the people living in Malta said that they don't have an emergency fund while 74% said that they do.

Financial Literacy in Malta

Financial literacy is the knowledge of concepts and principles related to personal finance that allow individuals to make informed decisions regarding their money such as budgeting, saving, investing, borrowing, managing debt, financial risk management, and planning.

Financial Leteracy73%


We asked residents of Malta whether they acquired any adequate personal financial training in their lives. Approximately 27% of the people who participated in the survey said that they are not well informed about the topics of budgeting, saving, etc., and just manage things based on their own experience, while 73% said that they know about the general principles of personal finance from sources other than their own experience.


Difficulty in Budgeting and Financial Planning

We wanted to understand whether residents of Malta have problems or difficulties in managing their expenditures and savings so asked the people one simple question: do you struggle with your personal finances? 30% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 70% said that they have everything under control.

Struggles with finance30%

Easily manages finances70%

Financial goals of people in Malta

In an attempt to understand the economic situation in Malta, we asked participants about their financial targets. By knowing what the population in general is trying to achieve, we can shed light on the economic outlook, cost of living, and quality of life in general.


Financial Goal% People
Emergency Fund6%
Debt Reduction31%
Retirement Savings7%
Education Funding9%
Homeownership16%
Investing9%
Travel or Lifestyle12%
Healthcare Expenses8%
Financial Independence9%

Around 6% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 31% said their number one priority is to pay off high-interest debt or loans and improve credit. 7% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 9% reported that their priority is saving for the tuition fees and education costs of their children while 16% choose to buy a home or pay off existing mortgage before other things. 9% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 12% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 8% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Saving Challenges in Malta

Reasons that make it difficult for people to save money

We wanted to understand what is stopping people from maximizing their savings in Malta. Listed below are the answers given by the survey participants.


Reason% People
Low Income7%
High Expenses10%
Debt and Loans19%
Lack of Budgeting Skills10%
Impulsive Spending9%
Financial Emergencies6%
Living the moment7%
Will do it later16%
Inflation10%
Social Pressure3%
Market Instability3%

Around 7% of the people said that their salary is too low to accommodate a portion for savings while 10% said that the high cost of living leaves little room for savings. 19% of the residents said that they are burdened with debt and find it challenging to save money. 10% reported that they just don't have the knowledge or discipline to create and stick to a budget, leading to overspending and an inability to save. 9% blamed impulsive spending as the reason for saving inability. Around 6% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 7% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 16% reported that they understand the value of saving but are putting off saving for the future, thinking they have plenty of time to start later. 10% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 3% said that social pressure and keeping up with peers or societal expectations makes them overspend. Lastly, 3% blamed market instability and price fluctuations.

Typical saving choices for people in Malta

Where do people choose to put their savings?


Saving Type% People
Emergency Funds10%
Gold9%
Savings Accounts17%
Retirement Accounts12%
Cash Savings15%
Real Estate10%
Investment6%
Stocks6%
Bonds7%
Mutual Funds3%
Certificates of Deposit3%

Retirement, pension plans, and life after work in Malta

What does the retirement lifestyle look like in Malta and how much retirement savings are required?

Retirement age

The retirement age for most employees in Malta is 65 years. Specific retirement ages can vary based on factors like occupation, gender, years of contribution, and location. It is not entirely unlikely for people to retire either before or after this age.

Retirement planning and savings

There are many retirement saving options, some are personally initiated and others are government-sponsered. Regardless of the source of savings, the minimum amount of money that needs to be put aside to ensure a peaceful and comfortable retirement at each age can be found in the table below. This data is largely approximated and can vary drastically based on individual needs and situations. Treat these figures as a general guideline.


The typical saved amount of money you should have at every age as multiples of monthly salary:
AgeAmount
255x monthly salary at age 25
3010x monthly salary at age 30
3515x monthly salary at age 35
4025x monthly salary at age 40
4532x monthly salary at age 45
5048x monthly salary at age 50
5556x monthly salary at age 55
6064x monthly salary at age 60
6578x monthly salary at age 65

The typical average saved amount of money you should have at every age in Malta:
AgeAmount
2512,000 EUR
3023,000 EUR
3541,000 EUR
4059,000 EUR
4588,000 EUR
50120,000 EUR
55150,000 EUR
60180,000 EUR
65220,000 EUR

Retirement Income Distribution

We asked residents of Malta about their retirement income sources and below are the results.

Source% People
Pensions14%
Savings21%
Investments14%
Social Security9%
Annuities9%
Part-time Job9%
Real Estate16%
Dividends and Interest9%

Retirement Monthly Expenses in Malta

680 EUR
$740
2,000 EUR
$2,200
14,000 EUR
$15,000
MINIMUM AVERAGE MAXIMUM

Debt, loans, and mortgages in Malta


Percentage of people who are in debt


In Debt
29%
Debt Free
71%

According to the survey, 29% of the people in Malta have some kind of debt, loan, mortgage, or credit card payments while 71% reported that they don't have financial obligations to banks.


Debt-to-income ratio in Malta

Debt to income ratio

28%

18% to 37%

( monthly debt payment / monthly income ) x 100

Interpretation

The debt-to-income ratio measures the percentage of income being paid as debt settlement across the population. It is calculated by dividing the monthly debt settlement payment of an individual by their monthly income. Based on collected data, approximately 28% of the people's monthly income in Malta goes to debt settlement.


Debt levels

Monthly debt settlement payment as percentage of monthly income

Debt-to-income ratio% People
> 60%3%
50% - 60%10%
40% - 50%11%
30% - 40%13%
20% - 30%16%
10% - 20%20%
0% - 10%28%

According to our data, 3% of the debtors in Malta pay 60%+ of their income as debt settlement while 10% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 11% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 13% dedicated 30% to 40% of income for same. Things are looking brighter for 16% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.


Distribution by type of debt in Malta

Debt% People
Real Estate Mortgage14%
Auto Loan24%
Student Loan3%
Credit Card24%
Personal Loan35%

14% of debtors in Malta confirm that real estate mortgages constitutes the main part of their outstanding debt while 24% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 24% of people and personal loans rose at 35%. Lastly, student loans are the main source of debt for 3% of debtors in Malta.


About credit score and debt management

Managing debt is a critical aspect of maintaining a favorable credit score. Debt reduction is the first thing you should do improve your financial situation. Getting rid of debt takes precedence over saving money because of interest rates.

Good debt vs. Bad debt

Not all debt is bad. Good debt typically refers to borrowing money for investments that can increase in value or generate income over time like purchasing a home or acquiring student loans. On the other hand, bad debt involves borrowing for things that fail to generate lasting value like high-interest credit card debt used for non-essential expenses like luxury items or vacations.


Loan Affordability Index in Malta

Besides measuring the loan-to-income ratio, we asked residents of Malta how many times in a year they defaulted or were unable to pay their due credit card or loan payments on time. Understanding how often people default on their due payments is one of the indicators of the cost of living and economic situation.

Frequency and percentage of people who failed to pay their monthly credit card or loan payments on time last year.

Frequency% People
Never56%
Once a year22%
Twice a year11%
Three times a year8%
Four times a year4%

Housing costs, accommodation, and housing affordability in Malta

Rental costs and house/apartment prices can vary drastically between different areas and locations.


Rent Cost in Malta

Monthly Rent Prices

Studio apartment
380 EUR 560 EUR 1,500 EUR
MINIMUM AVERAGE MAXIMUM
$410 $610 $1,600
1-bedroom apartment
560 EUR 900 EUR 2,300 EUR
MINIMUM AVERAGE MAXIMUM
$610 $980 $2,400
2-bedroom apartment
750 EUR 1,100 EUR 3,000 EUR
MINIMUM AVERAGE MAXIMUM
$810 $1,200 $3,300
3-bedroom apartment
900 EUR 1,500 EUR 4,100 EUR
MINIMUM AVERAGE MAXIMUM
$980 $1,600 $4,400
Furnished apartment
1,800 EUR 4,500 EUR 9,000 EUR
MINIMUM AVERAGE MAXIMUM
$2,000 $4,900 $9,800
Townhouse
1,500 EUR 2,300 EUR 6,400 EUR
MINIMUM AVERAGE MAXIMUM
$1,600 $2,400 $7,000
House
1,800 EUR 4,500 EUR 9,000 EUR
MINIMUM AVERAGE MAXIMUM
$2,000 $4,900 $9,800
Villa
2,300 EUR 5,600 EUR 9,000 EUR
MINIMUM AVERAGE MAXIMUM
$2,400 $6,100 $9,800

The monthly rental cost of a studio apartment in Malta ranges between 380 EUR and 1,500 EUR, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 560 EUR to 2,300 EUR. Two-bedroom rentals rate ranges between 750 EUR and 3,000 EUR per month. The monthly rental for a three-bedroom apartment ranges from 900 EUR to 4,100 EUR. The average rent of a townhouse in Malta is around 2,300 EUR while house rental costs can be as high as 4,500 EUR per month. Finally, if you want to rent a villa, expect to pay anywhere from 2,300 EUR to 9,000 EUR per month.



Apartment and house prices in Malta

Cost of buying a property

Studio apartment
75,000 EUR 110,000 EUR 230,000 EUR
MINIMUM AVERAGE MAXIMUM
$81,000 $120,000 $240,000
1-bedroom apartment
90,000 EUR 150,000 EUR 560,000 EUR
MINIMUM AVERAGE MAXIMUM
$98,000 $160,000 $610,000
2-bedroom apartment
150,000 EUR 450,000 EUR 900,000 EUR
MINIMUM AVERAGE MAXIMUM
$160,000 $490,000 $980,000
3-bedroom apartment
500,000 EUR 750,000 EUR 2.3M EUR
MINIMUM AVERAGE MAXIMUM
$540,000 $810,000 $2.4M
Townhouse
640,000 EUR 1.5M EUR 5.6M EUR
MINIMUM AVERAGE MAXIMUM
$700,000 $1.6M $6.1M
House
750,000 EUR 4.5M EUR 6.4M EUR
MINIMUM AVERAGE MAXIMUM
$810,000 $4.9M $7M
Villa
900,000 EUR 5M EUR 7.5M EUR
MINIMUM AVERAGE MAXIMUM
$980,000 $5.4M $8.1M

The average price of a studio apartment in Malta can range from 75,000 EUR to 230,000 EUR depending on location. One bedroom cost can be anywhere from 90,000 EUR to 560,000 EUR. A villa can cost you 5M EUR on average with prices ranging from 900,000 EUR to 7.5M EUR.


If you're leasing or purchasing, housing costs in Malta will probably constitute your biggest expenditure, yet it's an area where you wield considerable influence. This is due to the substantial variance in housing prices across communities. Keep in mind the location of your workplace and the accessibility of essential amenities to prevent negating the savings from lower rental rates with increased transportation expenses.

House / apartment prices to income ratio


Property price to income ratio

( average property price / average monthly income ) x 100


42 x124 monthly income 214
MINIMUM AVERAGE MAXIMUM

Property prices in Malta can be x124 to x214 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x124 multiples of the average monthly salary in Malta.



Rent to income ratio


Rent to income ratio

( monthly rental / monthly income ) x 100


22% 32% of income 42%
MINIMUM AVERAGE MAXIMUM

The average rent-to-income ratio in Malta is around 32%. This means that people pay 32% of their income for rent. Those figures can range from 22% to 42% depending on the salary, location, and type of property.


The housing-to-income ratio is a very important metric to evaluate and measure how affordable living is in a particular area, city, or country since housing comprises the biggest chunk of expenditure. A higher housing to income ratio means that the place is relatively expensive. The figure by itself does tell much. It only starts to make sense when comparing the housing to income ratio across different locations.

Housing affordability index

The housing affordability index measures how affordable accommodation is in a particular place. This can measured in multiple ways, the most common being housing expenditure to total expenditure ratio and the rent to income ratio. The housing expenditure ratio is a figure reported by individuals on the percentage they allocate for housing. Rent to income ratio is calculated by dividing the average monthly rent by the average income. Because these values are both percentages, we can find their average and get the best of the two worlds.

Housing Affordability Index
30%

Property Taxes

Real estate owners pay property taxes to local tax authorities, which are determined by the assessed value of their property. Typically, these taxes are paid once a year. Property tax funds contribute to community development, financing infrastructure improvements, public services, and local education initiatives.


FROM
2.2%
AVERAGE
3.2%
TO
4.2%

Home Maintenance Costs

Home maintenance costs encompass various expenses associated with the upkeep and repair of a residence. These expenditures include regular tasks such as lawn care, pest control, and HVAC system servicing, as well as occasional repairs and renovations like fixing leaks, painting, or replacing appliances.


6.3 EUR 82 EUR 820 EUR
MINIMUM AVERAGE MAXIMUM

Urban vs. rural living costs

Urban living typically entails higher housing and transportation costs due to demand and limited space, while rural areas generally offer lower housing expenses but may have higher prices for goods and services. The differnce in rental rates between urban areas and rural areas can be as high as 300% in some cases.


Single
Spending habits, consumption analysis, and expenditure patterns for a single person living in Malta

Housing33%

33% of total expenses on average (21% to 45%)

LOW$370   340 EUR
AVERAGE$1,100   1,000 EUR
HIGH$7,400   6,800 EUR
Per Month

Utilities, Electricity, Water7%

7% of total expenses on average (3% to 12%)

LOW$62   57 EUR
AVERAGE$190   170 EUR
HIGH$1,200   1,100 EUR
Per Month

Transport, Fuel7%

7% of total expenses on average (5% to 13%)

LOW$83   76 EUR
AVERAGE$250   230 EUR
HIGH$1,700   1,500 EUR
Per Month

Food and Groceries17%

17% of total expenses on average (11% to 22%)

LOW$170   150 EUR
AVERAGE$500   460 EUR
HIGH$3,300   3,000 EUR
Per Month

Healthcare10%

10% of total expenses on average (4% to 14%)

LOW$93   86 EUR
AVERAGE$280   260 EUR
HIGH$1,900   1,700 EUR
Per Month

Leisure, Shopping4%

4% of total expenses on average (3% to 7%)

LOW$52   48 EUR
AVERAGE$150   140 EUR
HIGH$1,000   950 EUR
Per Month

Education2%

2% of total expenses on average (1% to 4%)

LOW$21   19 EUR
AVERAGE$62   57 EUR
HIGH$410   380 EUR
Per Month

Other Expenses20%

20% of total expenses on average (12% to 24%)

LOW$190   170 EUR
AVERAGE$560   510 EUR
HIGH$3,700   3,400 EUR
Per Month


Couple
Average monthly living expenditure breaks and spending patterns for couples in Malta

Housing30%

30% of total expenses on average (23% to 40%)

LOW$570   520 EUR
AVERAGE$1,700   1,600 EUR
HIGH$9,100   8,400 EUR
Per Month

Utilities, Electricity, Water6%

6% of total expenses on average (4% to 10%)

LOW$86   79 EUR
AVERAGE$260   240 EUR
HIGH$1,400   1,300 EUR
Per Month

Transport, Fuel11%

11% of total expenses on average (5% to 16%)

LOW$210   190 EUR
AVERAGE$620   570 EUR
HIGH$3,300   3,000 EUR
Per Month

Food and Groceries15%

15% of total expenses on average (10% to 20%)

LOW$240   220 EUR
AVERAGE$720   670 EUR
HIGH$3,900   3,600 EUR
Per Month

Healthcare12%

12% of total expenses on average (6% to 16%)

LOW$190   170 EUR
AVERAGE$570   520 EUR
HIGH$3,000   2,800 EUR
Per Month

Leisure, Shopping5%

5% of total expenses on average (2% to 8%)

LOW$100   95 EUR
AVERAGE$310   290 EUR
HIGH$1,700   1,500 EUR
Per Month

Education2%

2% of total expenses on average (1% to 4%)

LOW$34   32 EUR
AVERAGE$100   95 EUR
HIGH$550   510 EUR
Per Month

Other Expenses19%

19% of total expenses on average (13% to 25%)

LOW$290   270 EUR
AVERAGE$880   810 EUR
HIGH$4,700   4,300 EUR
Per Month


Family
Average monthly expenses and break out of spending for families living in Malta

Housing29%

29% of total expenses on average (24% to 39%)

LOW$770   710 EUR
AVERAGE$2,200   2,000 EUR
HIGH$12,000   11,000 EUR
Per Month

Transport, Fuel7%

7% of total expenses on average (5% to 9%)

LOW$190   180 EUR
AVERAGE$550   510 EUR
HIGH$3,000   2,800 EUR
Per Month

Food and Groceries19%

19% of total expenses on average (12% to 25%)

LOW$430   400 EUR
AVERAGE$1,200   1,100 EUR
HIGH$6,800   6,300 EUR
Per Month

Healthcare9%

9% of total expenses on average (5% to 14%)

LOW$190   180 EUR
AVERAGE$550   510 EUR
HIGH$3,000   2,800 EUR
Per Month

Leisure, Shopping4%

4% of total expenses on average (2% to 8%)

LOW$120   110 EUR
AVERAGE$340   320 EUR
HIGH$1,900   1,700 EUR
Per Month

Education14%

14% of total expenses on average (7% to 22%)

LOW$340   310 EUR
AVERAGE$960   890 EUR
HIGH$5,300   4,900 EUR
Per Month

Other Expenses14%

14% of total expenses on average (7% to 19%)

LOW$290   270 EUR
AVERAGE$830   760 EUR
HIGH$4,500   4,200 EUR
Per Month


Student
Cost of living and expenses break down for students living in Malta

Housing21%

21% of total expenses on average (16% to 27%)

LOW$210   190 EUR
AVERAGE$530   490 EUR
HIGH$950   870 EUR
Per Month

Utilities, Electricity, Water5%

5% of total expenses on average (3% to 9%)

LOW$35   32 EUR
AVERAGE$88   81 EUR
HIGH$160   150 EUR
Per Month

Transport, Fuel6%

6% of total expenses on average (5% to 12%)

LOW$61   57 EUR
AVERAGE$150   140 EUR
HIGH$280   260 EUR
Per Month

Food and Groceries21%

21% of total expenses on average (15% to 25%)

LOW$180   160 EUR
AVERAGE$440   410 EUR
HIGH$790   730 EUR
Per Month

Healthcare7%

7% of total expenses on average (4% to 10%)

LOW$53   49 EUR
AVERAGE$130   120 EUR
HIGH$240   220 EUR
Per Month

Leisure, Shopping4%

4% of total expenses on average (2% to 8%)

LOW$44   41 EUR
AVERAGE$110   100 EUR
HIGH$200   180 EUR
Per Month

Education19%

19% of total expenses on average (12% to 24%)

LOW$170   150 EUR
AVERAGE$420   380 EUR
HIGH$750   690 EUR
Per Month

Other Expenses17%

17% of total expenses on average (11% to 23%)

LOW$130   120 EUR
AVERAGE$330   300 EUR
HIGH$590   550 EUR
Per Month
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