Thinking about retiring in Europe? This hidden gem could be the perfect place to enjoy your best years.
Retiring in Europe can be a fantastic choice for Australians looking for a change of scenery. Afterall, with its rich cultural heritage and breathtaking vistas, it’s not hard to see why tens of thousands of older Australians choose to call countries like Greece and Portugal their new home.
However, while many would naturally look to mainland destinations like Spain or Croatia, a small island off the coast of Italy might just be the perfect place to live out your silver years. Malta, with its warm Mediterranean climate, English-speaking locals, and a relaxed lifestyle, makes for an appealing choice for many.
So, let’s explore what makes this underrated gem so special
Perfect Mediterranean Climate
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Birds-eye view of Valetta. Photography by Parilov via Shutterstock.
With its prime location in the centre of the Mediterranean Sea, Malta is blessed with some of the best weather across all of Europe. This tiny island is spoilt with over 300 days of sunshine a year, with retirees enjoying mild winters and hot, dry summers that reach a high of 31°C and plenty of sea breeze to keep you feeling fresh. And with so much sun, the Maltese climate is also perfect for outdoor adventures, whether it’s lounging on the beach, exploring the countryside, or engaging in water sports.
So, whether you’re looking to sunbaking at the beach, stroll through a market, or hike through the countryside, Matla’s weather is perfect for retirees looking to maintain an active lifestyle year-round, helping keep you physically and mentally healthy.
Learn and Explore this Unique Cultural Unique Culture and History
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Grand Harbour in Valetta. Photography by Balate.Dorin via Shutterstock.
Malta boasts a unique blend of cultures and a rich history that dates back thousands of years. The island’s unique culture can be traced back to the various peoples who have called Malta home at one time or another, including Phoenicians, Romans, Arabs, Normans, and the British. And that collage of cultures is reflected to this very day across the islands, from the architecture to the cuisine.
Nowhere is this better experience than in the capital city of Valletta. A UNESCO World Heritage site, the city’s architecture is magnificently preserved, as the narrow streets lined with Baroque buildings that will transport you to another time. Moreover, the fortifications—once used to protect the island from invaders—now provide stunning views of the Mediterranean to locals and visitors alike.
Retirees can immerse themselves in Malta’s vibrant cultural scene, which includes festivals, concerts, and art exhibitions that capture the unique history of the island. Moreover, the people of Malta are known for their hospitality and friendliness, making it easy for newcomers to feel at home. English is one of the official languages, which is a significant advantage for Australian retirees who may not be fluent in other languages.
Cost of Living
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Valetta old town. Photography by Arcady via Shutterstock
When it comes to the cost of living, Malta is relatively affordable compared to other European countries. While prices can vary depending on the location and lifestyle, many retirees find that their pensions go further in Malta. Housing costs, in particular, are lower than in major Australian cities. Whether renting or buying, retirees can find a range of options to suit their budget.
Daily expenses such as groceries, dining out, and transportation is also reasonably priced. Malta has a well-developed healthcare system, and retirees can access high-quality medical services at a fraction of the cost they might expect in Australia. Additionally, Malta offers various residency programs that cater to retirees, providing benefits such as tax incentives and simplified administrative processes.
As you plan the next stage of your life, here is our guide to preparing your investments for retirement: what to think about before you take the leap. And make sure you don’t get caught with the top 3 hidden expenses to plan for in retirement.