Malta is a relatively unknown gem of a country in the Mediterranean adjacent to Italy and mostly unknown to North Americans. This sovereign nation, one of the smallest in the world and famous for its favourable tax regime and buoyant real estate market, is increasingly becoming a prime relocation destination for countless Americans and Canadians. The island nation, known for its rich history, stunning landscapes and vibrant culture, offers numerous advantages that make it an attractive option for North Americans considering a move abroad. This article explores the various aspects that make Malta an ideal choice, including the cost of living, political stability, property prices, visa and residency options, tax and the overall quality of life. If you want to know more about Malta in general, click here.
The Cost of Living in Malta
The cost of living in Malta is relatively moderate compared to major American and Canadian cities. Malta offers a good balance of affordability and quality of life. The general cost for groceries, dining, and entertainment is much, much lower than in cities like New York, Toronto, or Vancouver. For instance:
Housing: Renting a one-bedroom apartment in the city center of Valletta or Sliema averages around €800-€1,200 per month, significantly cheaper than similar accommodations in Manhattan or downtown Toronto.
Utilities: Basic utilities (electricity, heating, cooling, water, garbage) for an 85m2 apartment are around €100-€150 per month.
Groceries: Local markets and supermarkets offer fresh produce and goods at reasonable prices. A monthly grocery bill for a couple might range from €200-€300.
Political Stability, Safety and Health
Malta is known for its political stability and is considered one of the safest countries in Europe. It has a democratic government and is a full member of the European Union, which ensures robust governance and adherence to EU regulations. This stability is a significant draw for North Americans looking for a secure environment to live and work.
Property Prices
The property market in Malta has seen steady growth, driven by demand from both locals and expatriates. While property prices have increased, they remain attractive compared to major North American cities:
Buying Property: The average price per square meter in city centers is around €4,000-€5,000, while outside the city center it drops to €2,500-€3,500. This is more affordable compared to cities like San Francisco or Vancouver. Read all about buying a property in Malta here.
Property Taxes: There are no annual property or council taxes/rates in Malta so owning a property carries no costs.
Investment: Malta's property market is considered a good investment, with strong rental yields of between 4-6% and it has very good potential for capital appreciation which averages 6% per annum. Have a look at this article. Malta is also predicted to have the best economic growth in 2024 for the whole of the EU according to Euronews.com: “Malta leads the euro area growth rankings with a robust 4.6% in 2024 and 4.3% in 2025, followed by Cyprus and Croatia.”
Healthier Life: The EU has far stricter regulations governing food manufacturers as many of the colourants and additives found in food in North America is a complete no-no in the EU. People also tend to walk a lot more in the EU and it is inevitable that many North Americans feel healthier and lose weight when moving to Europe. Read this article for reference.
Visa, Residency, and Citizenship Options
Malta offers several pathways for Americans and Canadians to obtain visas, residency, and even citizenship, making it highly accessible for relocation:
Visa-Free Travel: Americans and Canadians can enter Malta visa-free for short stays of up to 90 days within a 180-day period.
Residency: The Malta Permanent Residency Program (MPRP) The Malta Permanent Residence Programme is a residency-by-investment program which shall entitle a beneficiary to the right to settle, stay and reside in Malta permanently. It is by far one of the most attractive residence programmes available to individuals looking at obtaining permanent residence in an EU country that also forms part of the Schengen Zone. Other options include retirement visas known officially as the Malta Retirement Program (MRP). The Malta Residence and Visa Program is unique due to the fact that it allows EU/EEA/Switzerland and non-EU nationals who intend to retire in Malta to obtain a residence permit. Many other options are available. Read more about it here.
Citizenship: Malta offers a Citizenship by Direct Investment Programme,In November 2020 Malta officially launched its latest framework which allows third-country nationals the opportunity to obtain Maltese and EU Citizenship – the Malta Citizenship by Naturalisation for Exceptional Services by Direct Investment (NESDI) regime.
The new rules allow individuals, along with their family dependants, to obtain Maltese citizenship by making a direct investment in the country. This will also grant applicants other benefits that come part and parcel with obtaining a Maltese passport, with Malta being a full member of the EU, including increased mobility to European countries and visa-free travel to more than 180 countries. Read more about it here.
Companies, Trusts and Tax Incentives in Malta
Few other countries in the EU have so many benefits for establishing a business. The process is cheap, quick and companies establishing themselves in Malta enjoy unbelievable incentives. Read all about it here.
Quality of Life
Malta’s quality of life is one of its strongest selling points. The island boasts a pleasant Mediterranean climate with over 300 sunny days a year, beautiful beaches, and a rich cultural heritage. The official languages are Maltese and English, which makes it easier for North Americans to adapt and communicate.
Healthcare: Malta has a high-quality healthcare system, with both public and private options available. The country ranks highly in global healthcare indexes (currently ranks 5th best Healthcare system worldwide).
Education: There are numerous international schools and universities, providing excellent education options for families relocating with children.
Community: Malta has a welcoming expatriate community, with various clubs and social groups catering to different nationalities, including Americans and Canadians.
Weather: Malta has more than 300 days of sunshine a year with very mild winters.
Safety: Malta is regarded as one of the safest countries in the world and violent crime is virtually zero.
Life Expectancy: Malta has a life expectancy of 83.21 years, one of the highest in the world and just about two years shorter than that of the global No.1, Hong Kong with 85.42 years for 2024 according to macrotrends.net.
Why Malta is the First Choice
Malta stands out as a prime relocation destination for several reasons:
Strategic Location: Situated in the heart of the Mediterranean, Malta offers easy access to Europe, North Africa, and the Middle East. Malta has an International Airport at Luqa with daily flights to all major destinations. Places like Rome, Paris, Amsterdam, Madrid, Barcelona and London are a mere 2-3 hour flight away.
Language: With English as one of the two official languages along with Maltese, North Americans face no barriers in terms of language and integration. All legal documents are written in English therefore not requiring any translators to carry out transactions. More than 86% of locals speak English and all signage are also bilingual.
Investment Opportunities: The robust property market and favorable investment climate make Malta an attractive option for those looking to invest.
Lifestyle: The combination of a pleasant climate, safety, cultural richness, and a high standard of living makes Malta an idyllic place to live.
Malta's blend of affordability, safety, ease of integration and high quality of life positions it as a perfect relocation destination for Americans and Canadians. Whether for retirement, work, or investment, Malta offers a welcoming and advantageous environment that meets the diverse needs of expatriates.
Why Homes of Quality in Malta is the Best Choice for American and Canadian Real Estate Buyers
When American and Canadian buyers consider investing in international real estate, Homes of Quality (homesofquality.com.mt)a distinguished real estate agency in Malta, stands out as the optimal choice for these discerning buyers as it is the luxury arm of the country’s oldest and biggest real estate group, Frank Salt Real Estate. With the biggest database of properties in the country and representation nationally, Homes of Quality should be your first stop for investment luxury property. Here’s why:
1. Exceptional Portfolio of Properties
Homes of Quality boast an extensive and diverse portfolio, ranging from luxurious villas and historic townhouses to modern apartments and seafront properties. This variety ensures that every buyer, regardless of their preference or budget, can find their dream home in Malta. It is noteworthy to mention that Homes of Quality specialises in properties that are different, unique and to be found nowhere else. Have a look at all of Homes of Quality’s properties on offer here.
2. Expertise and Local Knowledge
With many decades of experience in the Maltese real estate market, Homes of Quality offers unparalleled expertise and local knowledge. Have a look at the company here. Their team of seasoned professionals provides valuable insights into the best neighborhoods, investment opportunities and market trends, ensuring that buyers make informed decisions. All the consultants at Homes of Quality enjoy senior job title status, reflecting their unwavering commitment to delivering the best to their esteemed international clientele. Have a look at our small niche team of experts here.
3. Seamless Buying Process
Navigating the complexities of purchasing property abroad can be daunting. Homes of Quality simplifies this process by offering comprehensive services, including legal assistance, financial advice and relocation support. This holistic approach ensures a smooth and hassle-free buying experience for American and Canadian clients. Read all about relocation and importation of personal effects to Malta here.
4. Bespoke Customer Service
Understanding the unique needs and preferences of North American buyers, Homes of Quality delivers personalized and attentive customer service. From the initial consultation to property viewings and final transactions, clients receive dedicated support tailored to their specific requirements.
5. Strategic Investment Opportunity
Malta’s real estate market is renowned for its stability and growth potential, making it a smart investment choice. Homes of Quality provides expert guidance on high-yield properties and emerging market trends, helping buyers secure valuable assets that promise long-term appreciation. Malta’s property market has an outstanding reputation for bucking trends and outperforming other EU real estate markets. We suggest you read some of Homes of Quality’s blogs here.
6. Cultural and Lifestyle Appeal
Malta’s enchanting blend of history, culture, and modern amenities offers an attractive lifestyle for expatriates. Homes of Quality connects buyers with properties that align with their desired lifestyle, whether it’s a serene seaside retreat, a bustling urban residence, or a charming historical home. Homes of Quality has an uncanny ability to match buyers and investors with absolutely the perfect property. Read more about Malta’s climate, food, leisure and beaches here.
7. English-Speaking Environment
As an English-speaking country, Malta offers a significant advantage for American and Canadian buyers. Homes of Quality’s team, fluent in English and several other languages, ensures clear communication and understanding throughout the buying process, minimizing potential language barriers.
8. Favorable Tax and Residency Benefits
Malta offers attractive tax incentives and residency programs for foreign investors. Homes of Quality provides expert advice in association with Malta’s leading tax advisors on leveraging these benefits, guiding buyers through the process of obtaining residency and optimizing their investment from a tax perspective. Read all about Malta’s tax incentives here.
9. Strong Network and Partnerships
Homes of Quality has established a robust network of local and international partners, including legal firms, financial advisors and relocation specialists. This network was established by the Frank Salt Real Estate Group of Companies over a period of more than 55 years and enhances their ability to offer comprehensive services and address every aspect of the buying journey that few other can.
10. Commitment to Excellence
The reputation of Homes of Quality is built on a foundation of integrity, professionalism, and a commitment to excellence. Their dedication has earned them the trust and loyalty of buyers worldwide, particularly those from Australia, France, Germany, the Netherlands, South Africa, the UK, Italy and North America.
11. Support all the Way
We at Homes of Quality are here to support you from the moment you start planning your move. Whether you're drawn to Malta for job opportunities, to establish a business, to take advantage of tax benefits, or to enjoy your retirement, you can count on us for exceptional assistance. Relocating to a new country requires expert guidance and support and we are your local connection!
12. Leave everything to us!
Allow us to help you organize your island trip. If you're considering an on-site inspection of Malta and its properties from your shortlist, remember that we can also take care of organizing your local accommodation. We will coordinate your visits to the selected properties and offer guidance with home loan applications.
Choosing Homes of Quality in Malta is not just about purchasing a property; it’s about securing a trusted partner who understands the intricacies of investing in international real estate. Homes of Quality is committed to making the buying experience as rewarding and stress-free as possible and for American and Canadian buyers seeking a seamless transition into Maltese life and the country’s real estate market, Homes of Quality stands as the premier choice. If you are interested in finding out more, call us on PHONE: (+356) 2277 0620 or EMAIL: INFO@HOQ.COM.MT. We are located at 211 TOWER ROAD, SLIEMA SLM 1602, MALTA, EUROPE or alternatively WhatsApp Branch Manager Alex Papagiorcopulo on https://wa.me/35679911918, Mobile: +356 7991 1918, Direct Line: (+356) 2277 0649 or Email: alex@hoq.com.mt