The cost of living in Malta is lower than in most big European cities, even though the size of the market and transport costs of imported goods make some products more expensive than in the rest of Europe. Cars are subject to high taxes to encourage people to use public transport. This, on the other hand, is one of the cheapest in the European Union.
Communications cost slightly more than in mainland Europe in terms of phone rental, monthly Internet access fees, mobile and data costs. This is mainly due to the high cost of infrastructure (submarine cable) needed to link Malta to the rest of mainland Europe. Prices have, however, become more competitive owing to the opening up of the market and the pressures of competition.
Education costs are low compared to other countries, particularly fees for preschool, primary, secondary and higher education.
Residential and commercial property
Property prices depend on the location.
There is high demand for quality commercial property in Malta. Office space is concentrated in Sliema, Gzira and St. Julians, mainly because these areas are highly sought after by expatriates who settle in Malta.
Despite the quality of professionals, wages in Malta are still well below the EU average. The growth in some sectors has led to salary increases, as in the Financial Services sector where the demand for professionals in legal and accounting fields has forced salaries up.
A recent study has shown that the average annual salaries for professionals in the financial sector and in technology are as follows:
Financial Controller €45,500
Book keeper €15,000
Fund/Portfolio Manager €35,000
Project Manager €36,600
Quality Manager €28,765
Systems Administrator €25,000
Support Manager €33,700
Clothes prices are very competitive compared to those in other European capitals, particularly business wear, leisure wear, children's and sports wear.
The price of meals varies widely, with the highest prices around €60 a head without wine. You can get a very good meal for about €25 without wine and there are many restaurants in this price bracket.