Malta in top 5 countries for affordable retirement
Malta has made it into another list, this time as one of the most affordable retirement destinations in Europe. Malta has become at attractive tourist destination and retirement destination because it offers a number of benefits such as low tax rates, a safe environment and a stable economy, but people fall in love with the island for three main reasons, namely the relentless sunshine, the crystal blue Mediterranean waters and the welcoming people who are fluent in both English and Maltese.
Malta’s Capital city, Valletta, is adorned with exceptional architecture and historic buildings. In addition, it is the only capital city in the world which is still enclosed within its fortifications that were built over thousands of years and later improved by the Order of St. John between 1530 and 1798. Valletta and towns like Sliema and St Julian’s offer a very lively atmosphere throughout the year, taking advantage of the fantastic climate. Malta also offers some of the best Mediterranean cuisine in Europe, with restaurants ideally located all over the island with very competitive prices.
The best part about Malta is that you do not have to break the bank in order to live comfortably on the island. Rental properties can start from as little as €400 per month, depending on factors such as locality and property size. Due to Malta’s growing popularity as an ideal destination to work and reside, demand for rental properties has increased substantially and consequently, prices have risen. However, compared to other destinations in Europe that offer the same quality of lifestyle as Malta and are located conveniently in the centre of the Mediterranean, the prices are still very reasonable and affordable.
If you are looking to purchase property in Malta rather than rent, there is an array of properties available all over the island, including upmarket properties that exude luxury. Malta is also home to a number of houses of character and farmhouses that allow homeowners to have their own piece of history and traditional architecture.
Just a twenty minute ferry trip away is the sister island Gozo, which is another ideal destination for retiring expats. If you adore the seaside, a quiet and laid back lifestyle, cliffside walks and country lifestyle, then Gozo is the place for you. Nonetheless, just like Malta, Gozo also offers plenty of culture, history and excellent local produce at affordable prices.
Furthermore, healthcare services and facilities are some of the best in Europe and was classified in the top 10 in the world by the World Health Organisation (WHO). Even if you do not have health insurance, the rates are not prohibitively expensive. In fact, people in Malta, people spend 79% less per person than the USA.
In a nutshell, retirement in Malta could be the ideal choice for you if you are seeking a warm, friendly and enriching experience while keeping spending to a minimum, including rent, healthcare and a quality Mediterranean lifestyle.