Retiring in Malta

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Malta has long been a favourite destination for British ex-pats and retirees, no doubt thanks to the abundance of sunshine and the fluency of English on the island. Malta boasts a whole range of attractions, from stunning climate and rich history to hospitable locals and a unique culture. However, in terms of property and housing, what does Malta have to offer those retiring here?

Malta has been named the ‘Best Place to Retire’ in 2012 by Yahoo! Finance, following by Portugal, Spain, Barbados, the US, Australia, Thailand, Jamaica, Morocco and Greece. The island was also named ‘Best Climate on Earth’ by International Living Magazine, based on an audience of US retirees and ex-pats enjoying their sumptuous and relaxed Maltese lifestyle that they say allows them to live better and for longer. So why is Malta the number one destination for retiring?

The love of Malta has no doubt trickled through the generations thanks to the various RAF and military persons stationed on the island during the 1960’s. Many chose to stay on the islands and marry into Maltese families, others brought their families over permanently from the UK, and others left for home, only to find themselves yearning to return to Malta almost forty years on. 

Malta is famous for its sun and sea, but it is far more than simply an attractive climate that draws in retirees. Retiring in Malta is an easy and pleasant experience due to favourable residency schemes and tax rates. But above all, the small island of Malta possesses a rich culture and lifestyle that exudes Mediterranean luxury at affordable living costs.

Taking into consideration everything from low crime rates to rainfall, free and private healthcare, cost of living, quality of life and everything in between, Malta scored highly in all of these areas.

Malta is currently undergoing huge advances in its property market, with an abundance of luxurious residences being built in locations such as Portomaso – St. Julian’s, Tas-Sellum - Mellieha and Ta Monita - Marsascala. These new luxury residences offer a premium lifestyle at affordable prices with attractive rentals rates too. 

The Malta Government has recently launched a very enticing new scheme for those retiring in Malta, whereby applicants will benefit from a flat 15% tax rate.  In order to qualify for the this retirement programme applicants must either own a property in Malta at the minimum purchase of €275,000, or a lease property in Malta or Gozo with the minimum amount of €9,600 annually (in Malta) and €8,750 annually (in Gozo). In case of leasing a property, the rental agreement should be made for not less than twelve months and evidenced by a certified rental agreement.

Malta’s ideal location in the central Mediterranean makes it ideal for those retiring and emigrating from the UK and Europe, and is well served by many European airlines. Malta is also a highly favoured destination for countless other nationalities from Australians to Americans, Russians and Chinese. Foreign residents are welcomed into the Maltese community by friendly and helpful locals, and integrating with the locals and their way of life is a pleasing experience.

Read more about Living in Malta 

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