Malta is an island country located in the Mediterranean Sea. It is a popular tourist destination known for its rich history, beautiful beaches, and warm weather. If you are considering living in Malta, it is important to understand the cost of living. This article will explore the local currency, compare the cost of living to the UK and USA, break down costs for singles, couples, and families, and explain the most common forms of payment in Malta.
Local Currency
The local currency in Malta is the Euro (EUR). The Euro is widely accepted throughout the country, and most businesses will accept major credit cards.
Cost of Living in Malta Compared to the UK and USA
The cost of living in Malta can be relatively affordable compared to the UK and USA. According to Numbeo, a website that provides information on the cost of living in countries around the world, the cost of living index in Malta is 59.82, compared to 74.1 in the UK and 72.6 in the USA. This means that overall, the cost of living in Malta is lower than in these countries.
Breakdown of Costs for Singles, Couples, and Families
The cost of living in Malta can vary depending on factors such as location, lifestyle, and family size. Here is a breakdown of costs for singles, couples, and families of four in Malta:
Housing
Housing costs in Malta can vary depending on the location and type of accommodation. In general, a one-bedroom apartment in a city center can cost around 600-800 EUR per month, while a three-bedroom apartment can cost around 1,200-1,500 EUR per month. Outside of the city center, prices can be slightly lower.
Food
Food costs in Malta can be relatively affordable compared to other European countries. A basic lunchtime meal in a business district can cost around 10-15 EUR, while a three-course dinner for two in a mid-range restaurant can cost around 50-60 EUR. A liter of milk can cost around 1 EUR, while a loaf of bread can cost around 1-2 EUR.
Utilities
Utilities in Malta can be relatively affordable. Basic utilities for an apartment of 85 square meters can cost around 100-150 EUR per month, including electricity, water, and heating. Internet can cost around 25-30 EUR per month.
Leisure
Leisure activities in Malta can be affordable, especially if you take advantage of the country’s natural beauty. A movie ticket can cost around 8-10 EUR, while a gym membership can cost around 50-60 EUR per month. Many of Malta’s beaches are free, making them a great option for affordable leisure activities.
Transport
Transportation costs in Malta can be relatively affordable. A monthly pass for public transportation can cost around 26 EUR, while a one-way ticket can cost around 1.50-2 EUR. Taxis can be more expensive, with a 5 km ride costing around 10-15 EUR.
Clothing
The cost of clothing in Malta can vary depending on the quality and brand. Basic clothing items such as t-shirts and jeans can be found at affordable prices, while higher-end brands can be more expensive. A pair of jeans can cost around 50-60 EUR, while a summer dress can cost around 30-40 EUR.
Household Goods
Household goods in Malta can be affordable, especially if you take advantage of sales and discounts. Basic necessities such as cleaning supplies and toiletries can be found at affordable prices, with a bottle of shampoo costing around 3-4 EUR and a roll of toilet paper costing around 0.60-1 EUR. Appliances and electronics can also be found at affordable prices
Most Common Forms of Payment
The most common forms of payment in Malta are cash and card. Cash is widely accepted throughout the country, and many businesses prefer it for smaller transactions. Credit and debit cards are also widely accepted, especially in larger businesses such as supermarkets, restaurants, and hotels. Contactless payment is also becoming more popular in Malta, with many businesses now offering this option.
In addition to cash and card, mobile payment options are also available in Malta. Services such as Revolut and PayPal are widely used, allowing people to make payments using their mobile devices. However, it is important to note that not all businesses accept mobile payments, so it is always a good idea to have cash or a card as a backup.
The cost of living in Malta can be relatively affordable compared to other European countries, with affordable housing, food, utilities, and leisure activities. The local currency is the Euro, and cash and card are the most common forms of payment. Whether you are a single person or a family of four, understanding the cost of living in Malta can help you plan your budget and make the most of your time on the island.