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When we talk about affordability and property, it is of course all relevant to the amount of money you have and how much you want to spend. For someone who is very wealthy, a large apartment with stunning ocean views in a prestigious development in Sliema may be a bargain while for others on a budget, a two bedroomed apartment in one of the quieter areas of the country is their version of affordable.
Properties in sought-after areas such as St Julian’s and Sliema will be pricier and out of most first-time buyers’ reach, but this is not to say that there are no more bargains to be had! We did a little bit of digging and came up with a list of towns and villages where you can still find homes that are perfect for those scaling down such as retirees, for first-time buyers or those merely looking to own a lock-up and go holiday home.
Here’s our list of areas for budget-conscious property buyers:
1. Birżebbuġa
Birżebbuġa, located in the southeastern part of Malta, is a coastal town offering a relaxed lifestyle. Known for its sandy beaches and proximity to the Freeport, this area is still relatively affordable compared to other seaside towns. Birżebbuġa has a mix of traditional Maltese houses and modern apartments, with average property prices lower than in more central areas. It is ideal for those looking to live near the coast without breaking the bank. Here, we found a three-bedroomed finished apartment for €240,000!
2. Qormi
Qormi, one of Malta’s largest towns, is steeped in history and culture. Known for its bakeries and traditional Maltese lifestyle, it offers a variety of properties, from historic townhouses to modern apartments. Despite being close to Valletta and the central part of the island, Qormi remains more affordable than its neighbouring towns. Its central location and reasonable prices make it a great option for families and first-time buyers. We came across a shell-form two-bedroomed apartment for only €190,000.
3. Żejtun
A historic town in the south-eastern part of Malta, Żejtun is known for its beautiful churches and quiet streets. This town has seen less commercial development than other areas, keeping property prices more affordable. It’s perfect for those seeking a quieter lifestyle in a traditional Maltese town. The real estate market here includes large houses of character as well as newer developments and property prices start from €175,000 for a finished one-bedroomed, two bathroom ground floor apartment.
4. Marsaskala
Marsaskala, a charming fishing village in the southeastern region, has grown into a popular residential area while still maintaining relatively low property prices. The town offers a mix of seafront properties, townhouses and apartments. With beautiful sea views and a laid-back atmosphere, Marsaskala provides excellent value for money for those looking for a coastal lifestyle at a reasonable cost. We came across a finished one bedroom studio apartment with one bathroom for €181,000.
5. Birkirkara
Birkirkara, Malta’s largest town, is a bustling commercial and residential hub. Despite its size and central location, Birkirkara remains affordable compared to other central areas like Sliema and St. Julian’s. The town is well-connected by public transport and offers a wide range of properties, from traditional Maltese townhouses to modern apartments, making it ideal for anyone wanting to be close to the action without paying premium prices. Just think: you can own a shell-form apartment here for only €172,000!
6. Mosta
Mosta, located in the northern region of Malta, is known for the famous Rotunda of Mosta, one of the largest unsupported domes in the world. Mosta offers a variety of properties, from older townhouses to new developments, at prices lower than many other northern towns. Its central location and excellent transport links make it a popular choice for both locals and expatriates seeking affordability and convenience. Mosta is establishing itself as one of the best places to live in the country and you can become the proud owner of a two-bedroomed, two bathroom shell-form apartment here for €235,000.
7. Zabbar
Zabbar, located in the southern part of Malta, is another town offering affordable property options. Known for its strong community spirit and traditional Maltese architecture, Zabbar is a great place for families or those looking for a quieter pace of life. Property prices here are generally lower than in more touristy areas, with a mix of characterful homes and modern developments available. Come and settle in Zabbar and become the proud owner of a shell-form maisonette for €212,500.
8. Għaxaq
A small, quiet village in the south of Malta, Għaxaq is known for its peaceful environment and traditional Maltese charm. Property prices here are more affordable than in larger towns and the area has a strong sense of community. Għaxaq offers a range of properties, from character homes to newer developments, making it an ideal choice for those looking for a quieter, village lifestyle. Apartment prices here start from €213,000.
9. Fgura
Fgura, situated in the southeastern part of Malta, is another affordable area that offers a good variety of property options. Although close to the busy Three Cities and Valletta, Fgura maintains a relatively low cost of living, with property prices reflecting this. Its proximity to key industrial and commercial areas, along with its affordability, makes Fgura a practical choice for both working professionals and families. Expect to pay from €175,000 for a shell-form duplex apartment.
10. Msida
Known for its harbour and marina which attracts boat enthusiasts and visitors, Msida was traditionally a fishing village but has developed into a lively residential and commercial hub, popular with students due to its proximity to the University of Malta. The town offers a mix of modern apartments and older townhouses and its central location makes it convenient for accessing key areas like Valletta and Sliema. Despite its growth, Msida retains a charming, local atmosphere, with affordable property options compared to nearby coastal towns. Property’s selling like hot cakes here and we found a finished duplex apartment for €229,000. It is close to the university and hospital.
11. Cospicua
Cospicua is located in the Grand Harbour area and rich in history, featuring fortifications built by the Knights of St. John. It has a strong maritime heritage due to its proximity to the dockyards and in recent years, Cospicua has undergone significant regeneration, making it an increasingly popular residential area. Despite its historic charm and waterfront location, property prices here remain more affordable than in nearby Valletta or Sliema, attracting both locals and expatriates. We found a finished maisonette here for only €138,000!
12. St Paul’s Bay
St Paul’s Bay is known for its beautiful seafront, bustling tourist spots and rich history. It encompasses areas like Bugibba and Qawra, which are lively with restaurants, shops and entertainment. Though it’s more tourist-oriented, St Paul’s Bay still has quieter residential areas, offering a mix of traditional Maltese homes and modern apartments. With its scenic views, proximity to beaches, and access to amenities, it’s a sought-after area for both locals and expatriates. We came across a one bedroom, one bathroom finished apartment that’s on the market for €170,000.
13. Marsaxlokk
Marsaxlokk is a picturesque fishing village in southeastern Malta, known for its vibrant harbour filled with traditional Maltese fishing boats called luzzu. The village is renowned for its lively Sunday fish market and waterfront restaurants serving fresh seafood. With its charming promenade, historical landmarks and serene atmosphere, Marsaxlokk offers a tranquil yet culturally rich environment, making it a popular destination for both tourists and locals. Despite its appeal, property prices here remain more affordable compared to other coastal towns, offering excellent value for those seeking a scenic and peaceful lifestyle. Get your foot in the door with a shell-form apartment with two bedrooms and two bathrooms starting from €197,000.
14. Paola
Marsaxlokk is a picturesque fishing village in southeastern Malta, known for its vibrant harbour filled with traditional Maltese fishing boats called luzzu. The village is renowned for its lively Sunday fish market and waterfront restaurants serving fresh seafood. With its charming promenade, historical landmarks and serene atmosphere, Marsaxlokk offers a tranquil yet culturally rich environment, making it a popular destination for both tourists and locals. Despite its appeal, property prices here remain more affordable compared to other coastal towns, offering excellent value for those seeking a scenic and peaceful lifestyle. Get your foot in the door with a shell-form apartment with two bedrooms and two bathrooms starting from €197,000.
15. Mgarr (Malta)
Mġarr is a charming rural village in the north-west of Malta, known for its agricultural heritage and peaceful atmosphere. Surrounded by scenic countryside and vineyards, Mġarr offers a slower pace of life, making it ideal for those seeking a more tranquil setting. The village is famous for its traditional Maltese restaurants and proximity to popular beaches such as Għajn Tuffieħa and Golden Bay. With its historical sites, like the Ta’ Ħaġrat Temples, and a close-knit community, Mġarr provides a blend of cultural richness and natural beauty. We tracked down a finished corner maisonette with two bedrooms and two bathrooms for €250,000.
16. Marsalforn
Known for its relaxed atmosphere, this popular summer destination offers a mix of traditional Maltese charm and modern amenities. With its beautiful bay, rocky coastline, and small sandy beach, Marsalforn is ideal for swimming, diving and waterfront dining. The village also features a range of affordable properties, including apartments and holiday homes, making it an attractive option for both locals and expatriates seeking a peaceful coastal retreat. A one bedroom, one bathroom shell-form apartment can be purchased here for €139,000.
17. Xlendi
Xlendi is known for its scenic bay surrounded by towering cliffs. Popular with both locals and tourists, it offers a tranquil atmosphere, ideal for swimming, snorkelling and loads of restaurants on the waterfront area that offers a wide variety of dining options. Although small, Xlendi has a charming mix of traditional houses and modern apartments, making it a great spot for a peaceful holiday or a quiet place to live, with stunning views of the Mediterranean and a slower pace of life compared to more developed areas. We came across a shell-form apartment that is currently on the market with two bedrooms and one bathroom starting from €145,000.
Thoughts
As we can see from the examples above, prices have gone up all over Malta and Gozo in recent years, but as they say in the trade, “The best time to buy is now” as it is all relevant. In a few short months all these properties will cost even more and the longer buyers wait, the less profit they will make in the long run when selling one day. Capital appreciation in Malta is currently around 6% although it has seen years with incredible high gains in the past.
Our Tips
- It is important to assess one’s needs when looking for the best value for money property, but always stick to a budget.
- The further one is prepared to move outside popular areas, the more value you will discover.
- If a home is to be for you and your family to live in on a permanent basis, then you will definitely need more space, access to an outside area, easy parking and also for it to be close to or on all major transport routes.
- The secret to finding that unbelievable (and sound) bargain is to keep your ear on the ground and talk to people.
- Build a good relationship with a trusted property consultant.
- Scour the market on a daily basis for the best properties.
- Visit the towns and villages on our list to make sure which one will appeal to you.
We guarantee that you will find a home that suits your budget and requirements and that it will prove to be a sound investment, given that you are informed and make a wise decision when finally purchasing that home. For a consultation on investments and to check out more selections of high yielding properties, contact any of our branches today or email us at [email protected].
