The Cost of Living in Spain: Discover the Key Issues to Plan Your SpendingJorge Mariñas Berenguer
Due to its culture, climate and lifestyle, Spain attracts people from all over the world. However, it is essential to know the cost of living in Spain and how this could affect your finances before opting to move there. From accommodation and food to basic services and transport, this blog will look at the costs of living in Spain.
Accommodation, a key aspect of the cost of living in Spain
Accommodation is one of the highest expenses anywhere, and Spain is no exception. The price of housing varies according to geographical location, with major cities such as Madrid and Barcelona costing more compared to rural areas or smaller towns. In the centre of a major city, a one-bedroom flat can cost around 800 to 1,500 euros per month, while in cheaper areas, the price can drop to 600 to 800 euros per month.
In comparison with the 15 most important European capitals, Madrid is the second cheapest in Europe, for example, cities like London have an average price of 2139 euros to Madrid’s 1020 euros.
Food and gastronomy, a pillar of Spanish culture
One of the reasons why Spain stands out, apart from its culture and climate, is its gastronomy, so you should know what this will mean for your cost of living in Spain.
Fortunately, food prices in Spain are reasonable compared to other European countries. In a high-end restaurant, a meal can cost between 10 and 20 euros per person, while in a more exclusive restaurant it can cost more than 30 euros. The cost of basic commodities such as fruit, vegetables, meat and dairy products is reasonable if you prefer to cook at home, especially if you shop at local markets or cheaper supermarkets, as the average monthly shopping basket costs €116 per person.
The cost of basic services in Spain
When calculating the cost of living in Spain, you should consider not only accommodation and food, but also basic services. The price of electricity, water, gas and heating vary depending on the size and location of the property. In general, these services can cost between 100 and 300 euros per month.
The cost of mobile phone and internet services is another important factor. Spain has a wide range of service providers and extensive network coverage. In general, you can expect to pay between 40 and 60 euros per month for a broadband Internet connection and between 20 and 30 euros per month for a mobile phone plan that includes unlimited data and minutes.
How much does transport make up in the cost of living in Spain?
Public transport in Spain is extensive and efficient, with a well-established public transport network in major cities. The cost of a single ticket for public transport, such as buses and metros, varies from city to city, but in general, it can cost around 1.50 to 2.50 euros. It may be a good idea to purchase a monthly transport card, which can cost between 30 and 60 euros depending on the area and type of transport, if you plan to use public transport frequently.
You should take into account associated costs, such as the cost of petrol, vehicle insurance and road taxes, if you prefer to have your own vehicle. Car or motorbike insurance can vary according to age, driving record and other factors, but the average price of petrol in Spain is around 1.30 to 1.50 euros per litre.
Spain is one of the European countries with the best quality of life so we are sure that moving to this amazing country is always a good idea. If after analysing the cost of living in Spain you have decided to come and live in Spain, Apply Golden Visa will manage all the documentation and bureaucracy so that your only concern is to enjoy the process.