Lifestyle and Salaries for Expatriates in Malta

Introduction

Malta, a small yet culturally rich island nation, is often a sought-after destination for expatriates seeking a new life. However, the cost of living and the availability of high salaries can vary significantly. Gordon Pace shares his insights and personal experiences based on his time in Malta. In this article, we aim to provide a comprehensive understanding of what constitutes a good salary for an expatriate couple in Malta, along with the cost of living considerations.

General Guidelines for Salaries in Malta

As of 2023, the average gross salary in Malta is around €30,000 to €35,000 per year. For expatriates working in sectors such as IT, finance, and gaming, salaries can be significantly higher, often ranging between €35,000 and €70,000 annually. This variability reflects the different opportunities and industries available in Malta.

The Cost of Living in Malta

Malta's cost of living is relatively moderate compared to other European countries. A combined income of approximately €50,000 to €70,000 per year is often recommended for a comfortable lifestyle for a couple in Malta. This figure allows for decent housing, dining out occasionally, and engaging in various leisure activities.

Housing Expenses

Renting a one-bedroom apartment in central areas such as Valletta or Sliema can range from €800 to €1,500 per month. Prices in less central areas are usually lower. Real estate costs can significantly impact the budget of an expatriate couple, making it an important factor to consider when determining a suitable salary.

Personal Experiences and Insights

According to Gordon Pace, living in Malta comes with its unique set of challenges and expenses. He notes that the cost of living in Malta is exceptionally high compared to European standards. For example, the cost of shopping for food in Malta can be as much as 70 euros higher than in London for a shopping bill worth 200 euros. This example highlights the significant difference in pricing for basic necessities.

Rents in Malta are notably high, with costs often exceeding wages, making it difficult for expatriates to find affordable housing. Cars and car parts in Malta are also expensive, and there are very few affordable options available. Despite these challenges, realizing a salary of €45,000 per year (split between him and his wife) with expenses like a monthly loan of €400 and other bills, they still find it challenging to save money while maintaining a conservative lifestyle.

These experiences underscore the importance of carefully evaluating salary expectations and living expenses in Malta. The higher the salary, the better positioned an expatriate couple will be to offset the high cost of living and other expenses.

In summary, a combined salary of €50,000 to €70,000 per year is generally a good target for a comfortable lifestyle in Malta, but individual considerations such as lifestyle choices and preferences can significantly impact the required salary range.