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Why Every Expat, Retiree, and Digital Nomad Should Consider Moving to This Affordable European Island Destination Right Now
Moving abroad to a warm, sunny spot that looks out on the azure waters of the Mediterranean sure sounds dreamy. It also sounds expensive. But, as a new report in International Living shows, there is one place where you really can have it all for under $36,000 a year.
In late March, the website dedicated to helping expats live, retire, and travel abroad released a list of the top spots to live in Malta, an archipelago located off the coast of Sicily, known for its beautiful scenery, fantastic architecture, and a growing expat community.
"With its stunning coastline, mild climate, and affordable cost of living, English-speaking Malta offers expats and retirees a high-quality yet budget-friendly lifestyle," International Living reported, adding that Malta is often one of the European Union's most overlooked retirement destinations.
'Malta offers the best of Mediterranean living—history, safety, and affordability,' Kathleen Evans, a contributor to International Living, shared. 'It's an incredibly safe place where living on $3,000 a month, or even less, is still a reality.'
According to Evans, expats and retirees can stretch their dollar by living outside hotspots, such as Valetta's Inner Harbour. International living highlighted three locations as the best destinations for affordable living in Malta: Mellieħa, Marsaxlokk, and Gozo.
In Mellieħa, a less populated area of the island, expats will find gorgeous beaches and thinner crowds. They'll also find two-bedroom, two-bath apartments renting for about $950–$1,000 per month. (Though the website notes that "sea-view properties come at a premium.") Those who want to buy can find houses in the $250,000–$300,000 range.
Marsaxlokk, located in the south, is a quaint fishing village with just 4,000 full-time residents. Here, apartments rent for about $900–$1,000 per month, while homes can be purchased for over $300,000.
And lastly, in Gozo, Malta's northernmost island, expats will find a bit more energy, thanks to its 41,000 residents. Here, a two-bedroom, two-bath apartment rents for $900 per month, and homes sell for around $309,000.
International Living noted that those seeking permanent residency should consider buying property worth at least €300,000 (about $309,000), which will qualify them for the country's MPRP permanent residency program. However, if you just like to test the waters first, you can apply for its Digital Nomad Visa, which allows non-residents to stay for up to one year and can be renewed up to three times.
As for the rest of your living expenses, International Living reported that groceries are a little pricey due to shipping costs, and there is only one public hospital in Malta, complicating access to specialized care.
See the full report and more insights on Malta at internationalliving.com.
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