30k > 50k, true? Malta Vs Germany

1. Happiness is not defined primarily by financial situation.
2. There are places in Germany where a 2BR apartment is far cheaper than what you mentione for Malta - e.g. remote countryside or Eastern Germany's economically depressed regions.
3. What do you want to achieve by asking this question?

1. By happiness I mean which one will be in a better financial situation. I am not referring to real happiness here, of course financial matters are not the sole parameter of happiness - total misunderstanding here.

2. Why are you taking extreme examples, lets keep with average figures.
(economically depressed regions in Germany, what?! then I am eager to know what you will call Greece those days )

3. Relax man, out of curiosity, I am just trying to have idea on the living costs in both countries - total misunderstanding here too.

Yes, Germany has huge internal differences in economic situation, prosperity and living costs. You can check numbeo.org:
Munich (reputedly Germany's most expensive city) has a consumer price index (CPI, excl. rent) of 70.5 (100=New York) and a rent index of 35.5, with a local purchasing power (LPP) of 166 (i.e. the locals are effecitively 65% richer than New Yorkers).
None of the really poor Eastern cities (e.g. Frankfurt/Oder, Cottbus, Rostock) are part of their statistics, so I use Leipzig (550k people) as example: CPI there is 64 (10% less than Munich), rent index 16 (55% less than Munich) and LPP 107 (36% below Munich). Other places (like the ones mentioned above), and especially the countryside, fare worse - you can buy a house there for one year's rent in Munich!
Sliema, the only Maltese place listed, has a CPI of 64, rent index of 19.4 and LPP of 117.
Given the weather (a more important factor for happiness), I know where I'd rather live!