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Money matters

cost of living

No, really... it does!
But does it matter more in Malta than at home?

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Postby Akasha37 » Fri 8 Jan 2010 22:22 GMT

Just stayed for 9 days loved it but cost of food is the same if not more than the UK, not sure where supermarket prices came.
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Postby centralad » Sat 9 Jan 2010 10:18 GMT

Akasha37

Most ex-pats would tell you that overall, although the weather is great for most of the year, it is not particulary cheaper to live in Malta / Gozo than in other EU Countries.

Also what with an increase in unemployment, a downturn in tourists, Courts appearing to be getting busier, and having to lock our car ( and house ) doors now that we have had things stolen from it. It seems that Malta / Gozo are slowly, but surely, having various problems like the rest of the EU. :(

Are we happy here, yes, but we have thrown away the ' rose tinted glasses ' :wink:
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Postby gozomark » Sat 9 Jan 2010 10:24 GMT

The biggest financial reasons for living in Malta are not on your expenditure, which as centralad says, is not dissimilar to the UK, but on tax.

1. no council tax
2. much lower income tax (for non-Maltese citizens)

Our car remains unlocked at night, but then I don't live in Ghajnsielem :D
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Postby Akasha37 » Sat 9 Jan 2010 10:35 GMT

I agree with that Mark, although not great if you are self employed, my friend who lives there has informed me you have to pay 100 euro a month (tax/NI) whatever you earn??
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Postby gozomark » Sat 9 Jan 2010 10:46 GMT

I've split this from the other topic as its no longer about Ghajnsielem :D

There is no minimum tax, but there is a minimum NI bill

http://www.ird.gov.mt/v1/services/ssc/sscrates.aspx

for employed its € 15.23 /week, for self employed its € 26.37/week

That does give you access to public health cover, state pension etc etc

I've no idea how that compares to the min NI bill in the UK for self employed
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Postby BB71 » Sat 9 Jan 2010 10:54 GMT

You had me well confused there GM, I posted on the other thread and then your comment had disappeared, I thought i was going mad and it's too early to be on the sherry, so I couldn't blame that!! My original post from the other thread (which I've since deleted) is below.

And the difference is probably going to get a lot bigger in the next few years given the state of the UK's booming national debt. They'll be taxing flatulence soon back in old Blighty. :D

Actually the rest of Europe is in a similar situation, Greece has just announced huge rises in alcohol and tobacco tax, Italy has a national debt which will soon be rising to about 110% of GDP, and look at the state Ireland is in!! Give it a few more years and Malta can only become cheaper and even more attractive compared to many other places in Europe.
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Postby centralad » Sat 9 Jan 2010 15:13 GMT

Reading in a UK newspaper today ( I had it given to me, as I have never bought a UK newspaper since living here ), there were lots of new cars for sale adverts, and so many ( Fords, vauxhalls, peugots ) were under 7k :shock: a bit different from the scandalous prices of older cars here.
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Postby gozomark » Sat 9 Jan 2010 16:45 GMT

Yep, price of cars is one thing that's a lot more expensive in Malta than the UK.

Mitigating it to an extent
1. cars tend to hold their value better in Malta
2. they are cheaper to repair and service
3. road tax and insurance are lower
4. you will probably do a lot less miles :D
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Postby johnofessex » Sat 9 Jan 2010 17:58 GMT

UK self-employed NI rates are (quick rough summary) £2.40 pw (= about £120 pa), plus 8% on profits above about £5000, then reducing to 1% on profits above about £44,000. If you earn less than about £5000 you can claim exemption and pay nothing. Exemption might affect your contribution record for state pension purposes, but not (as I understand it) your NHS entitlement.

Proper details at http://www.businesslink.gov.uk/bdotg/ac ... 1073790859 .

I haven't worked the implications of this through, but my first impression would be that the minimum fixed SSI bill might make being a very small-scale self-employed person in Malta somewhat unattractive.

I'm sure that many other considerations enter into anyone's decision to live in one place or the other, though.

Re food costs: competition between UK supermarket chains is intense, probably depressing prices - guess less so in Malta.
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Postby centralad » Sun 10 Jan 2010 09:11 GMT

With regard to cost of living in Malta / Gozo, as vegetarians we find the price of Quorn and other vegetarian Branded items double, sometimes triple the UK price of the same. Fresh fruit & veg prices are not a lot different than UK prices.

Road tax may be cheaper, but cars are SOOO much more expensive.
With regard to cheaper servicing / repairs, because of the dreadful roads, replacing worn / damaged car parts on a more frequent basis, makes servicing / repairs overall, about the same as the UK :wink: ( Mark's servicing / repair costs are cheap, because his guy never charge him :lol: )
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Postby Red » Sun 10 Jan 2010 11:51 GMT

Hi once again, Central lad,

I have read with interest your replies and comments, and joking apart, I know you speak a lot of sense; with this in mind, and taking everything into consideration except rent, how much do you think it would cost per annum for an active (so far) retired couple to live in Gozo?

I have another question for you but I will post it on the health section.

Red
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Postby centralad » Sun 10 Jan 2010 13:02 GMT

Hi Red,

Please remember that its a case of what standard of living you want.

We are careful, but we do not deprive ourselves, or live like hermits, as we do get out and about quite a bit.

So I would say that we get by quite comforably on 625 euros per month = 7500 euros per annum ( excluding rent, which is very reasonable ).

We have friends whose rent is that much per annum :roll:
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Postby Malkity » Sun 10 Jan 2010 16:52 GMT

Hi Centrald, Does the 625 euros a month include utilities, like cooling/heating, water, T.V., internet, phone etc.? If so that is excellent! :lol:
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Cost of living

Postby Red » Sun 10 Jan 2010 16:53 GMT

Hi Central lad,

Thank you for taking the time to help me. This information is most helpful and very reassuring news.

Red
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Postby BB71 » Sun 10 Jan 2010 20:02 GMT

gozomark wrote:4. you will probably do a lot less miles


I saw a car advertised on the internet and originally thought it must have been a typo, but having seen similar ones since, probably not. It was a 16 year old small hatchback, one careful owner and it had, wait for it, 22,000 miles on the clock!! That works out at less than 4 miles a day on average for the last 16 years.

Mind you, as centralad says, 4 miles on Maltese roads is probably equivalent to 40 miles in the UK.
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