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Living costs and private health insurance

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Living costs and private health insurance

Postby Just » Wed 15 Apr 2009 20:51 GMT

Hi all!

Just searching for a rough guide - have read numerous posts on this board concerning living costs.

Could the people already living in malta - please advise is £10,000 a year a reasonable amount for a couple in their 40's to live off!.
Bearing in mind - that we have rental to pay of 300 euros per month plus other costs like food, water, electric, gas, household/ health insurance, mobile phones and internet charges.
We live quite simply in the UK but do not want to under estimate living costs in malta.

Secondly could you please advise likely cost of private health insurance per year per adult whilst in malta.
We are both average 40 year olds with no real health issues.

Also interested in rough guide/price for average household/contents insurance based on 2 bed apartment.

Many thanks for any light you can shed on the above !
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Postby gozomark » Wed 15 Apr 2009 22:24 GMT

£10,000 is about 11,000 euros currently

4,000 rent
500 - 1000 electricity/water/gas
1,000 health insurance for 2
500 mobile phones and internet
200 contents insurance

leaves about 4-5,000 euros for everything else, incl food. Its do-able, esp if you dont have a car, dont eat out regularly and dont go abroad, but would be tight esp if £ fell more. How much do you spend a year in the UK ?

do you smoke ?
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Postby gozomark » Wed 15 Apr 2009 23:17 GMT

You may not require health insurance - do you qualify for free healthcare via E106 ? If not, if you are UK citizens you also have the bilateral health agreement between UK and Malta

E106 details can be found on the following
http://www.britishexpat.com/expatforum/ ... 8895#46385
if you have any questions about E106, please ask them on that thread

- if you dont qualify for that, search for "bilateral health agreement " on this forum
Last edited by gozomark on Thu 16 Apr 2009 07:16 GMT, edited 2 times in total.
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Postby gozomark » Wed 15 Apr 2009 23:30 GMT

also see

http://www.britishexpat.com/expatforum/ ... hp?t=21114
EU citizen moving to Malta Q&A

6. do I need health insurance ?
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Postby Just » Thu 16 Apr 2009 07:26 GMT

Thanks Gozomark - you're a wealth of information!

Unfortunately hubby does smoke - but I think he will be forced to quit the habit if he can't afford it! :D :D
So thats a plus side!

We would also have a car to run - so I guess we would have to include average petrol costs, - just out of interest what price should we budget for car tax and insurance ? I guess our vehicle has to be registered with maltese officials once we arrive there!

We are due an inspection visit to malta at the end of May - to view rental properties and to get a feel of which area we would like to live in!

Is there anything else you can recommend that we must/should do in order to make the transition easy?

Once again many thanks for your kind help!
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Postby Just » Thu 16 Apr 2009 07:38 GMT

Forget to mention - we roughly spend between £800/£1000 here in uk each month! But only have council tax/household utilities to pay/running cost of car etc. We have no mortgage therefore expenditure costs have dropped!
We realise holidays would have to stop and we may have to get part time jobs in order to pay for cost of living!
We are budgeting at the moment that a £800/1000 a month in malta will see us by!
We are hoping the exchange rates will not drop any further and praying for a miracle that saving interest rates will increase!!! :D :D :D
Well I always try to look on the bright side of life
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Postby gozomark » Thu 16 Apr 2009 07:39 GMT

car - check out motoring forum
http://www.britishexpat.com/expatforum/ ... .php?f=813
for details of import registration tax, and whether its worth bringing your car over

car tax - depends on cc and emissions, but anywhere from less than 100 to alot of 100s of euros

insurance - as with UK depends on type, age, but generally cheaper than UK

anything else you ned to do ? have a read through
http://www.britishexpat.com/expatforum/ ... hp?t=21114
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Postby gozomark » Thu 16 Apr 2009 07:45 GMT

Just wrote:praying for a miracle that saving interest rates will increase!!!


Be careful what you wish for, as it may come true

savings rates in the UK are actually quite high at the moment - easy to find 1 year fixed rate of 3-3.5% v forecast inflation over the next year of close to 0%. Rates will go up when inflation goes up, but I doubt real rates will be better than now. Real rates normally average 1-2% or so, so 3-3.5% is actually very high. You may feel better off with inflation at 5% and interest rates at 6%, but in reality you are worse off
Last edited by gozomark on Thu 16 Apr 2009 08:18 GMT, edited 2 times in total.
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Postby gozomark » Thu 16 Apr 2009 07:47 GMT

good news for you is no council tax in Malta - other than that assuming you spend the same here as UK should mean you are OK - most spend less, even at 1.10 exchange rate (average so far in 2009)
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Postby gozomark » Thu 16 Apr 2009 07:50 GMT

bad news - don't depend on finding part time jobs, there are few around, and they pay poorly compared to UK.
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Postby Just » Thu 16 Apr 2009 08:31 GMT

Thanks Gozomark!
Just looking at the links you have given me for bringing vehicle in to malta!
There's alot to consider - looks as if best bet is to bring in older vehicle rather than a brand new model! May save some funds that way!

How long have you been in Gozo? How did you find your transition there?
Have you ever looked back and wished you were back in the UK? (stupid question eh?)

It appears to me that most people who make the jump to malta do not consider coming back to the UK! However, people I know who went to Spain (similar age 40 ish) have returned saying that they could not afford to live there!

Therefore I do not wish to make the same mistake but in the same breathe I no longer have any ties to the UK!
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Postby Just » Thu 16 Apr 2009 08:35 GMT

Yes Mark!
I see you point regarding inflation/interest rates - and whilst
3% is probably best and it remains pretty stable - I guess like most people who depend on living off there savings you're always hoping for a little more interest wise - but I understand if inflation rises sharply I will be no better off!

Good point!
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Postby gozomark » Thu 16 Apr 2009 09:20 GMT

How long have you been in Gozo? six years
How did you find your transition there? easy
Have you ever looked back and wished you were back in the UK? (stupid question eh?)nope :D

It appears to me that most people who make the jump to malta do not consider coming back to the UK! However, people I know who went to Spain (similar age 40 ish) have returned saying that they could not afford to live there! - Malta still cheaper than UK even if daily living expenses are not much less now, due to cheaper rents, no council tax and favourable tax treatment for foreigners. A few are leaving, but more due to not finding work and keeping house in UK as well as Malta

car - bear in mind potentially no tax if youve owned it for 2 years etc etc - all explained on motoring forum
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Postby bennylas » Thu 16 Apr 2009 10:45 GMT

As far as I understood, if you work you don't need to pay for health insurance, because by paying social security contributions healthcare is free.
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Postby gozomark » Thu 16 Apr 2009 10:55 GMT

bennylas wrote:As far as I understood, if you work you don't need to pay for health insurance, because by paying social security contributions healthcare is free.


correct, and if one of you pays, that covers your married partner as well

http://www.britishexpat.com/expatforum/ ... hp?t=21012
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