Currently, about 6 million expats are living in Spain. There are several reasons why Spain is a popular destination for expats. Climates that are warm year-round, a well-developed healthcare system, and a good cuisine make it an attractive place. Spain has a relatively low cost of living despite its high standard of living. Generally, it is among the cheapest countries in Western Europe. This article will discuss everything you need to know about the cost of living in Spain.
Researching salaries in Spain will reveal that they are below the global average. The average household income in the country is around €20,468, while the worldwide average is €27,047. Spain also tends to have a lower cost of living than other countries, so this is not a problem. According to expats living in Spain, a couple can live comfortably in a big city like Madrid for between €1,700-1850 per month. The monthly cost of this is lower in rural areas or outside of large cities, where it is approximately €1,450-1,600.
What is the cost of living in Spain?
In general, Spanish cities have a much lower cost of living than other big cities such as New York, London, or Los Angeles.
Cost of Spanish real estate
Spain’s real estate market is very affordable, keeping in line with the low cost of living. Renting or buying property in Spain is possible if you decide to move there. In this section, we will show you the real estate prices in detail. Buying or renting real estate depends heavily on the location you choose. The cost of living in Madrid and Barcelona will naturally be higher than in Alicante, Valencia, or Seville, for instance.
Cost of education in Spain
Keeping up with the standards of Western Europe, Spain has a robust education system. Public schools are compulsory for children until they turn 16. Spanish residents can send their children to school for free if registered. The cost of uniforms, books, etc., is not included. Nevertheless, many ex-pats prefer their children to attend private or semi-private schools in Spain. Because public schools teach in Spanish, this is the case.
Cost of rent in Spain
Throughout this section, we will look at various cities in Spain and give you an idea of how much a rental would cost depending on several factors, including location and size. Prices in this section are estimates and could change based on the property’s age, the services it offers, and so on.
Expatriates generally choose Madrid over other cities in Spain as a place to live. There is some disagreement over which city is the most expensive in Spain among real estate experts. In the center of Madrid, the average rental price for a one-bedroom apartment is €956 per month. The average price of a one-bedroom apartment is €716 outside the city center.
Madrid’s city center offers three-bedroom apartments, perfect for small families, for about €1,683. Approximately €1,174 a month would be the rent for a three-bedroom apartment if you moved a bit outside of the center.
A strong competitor for the preferable place to live in Spain is Barcelona, the second-largest city in Spain. Rent in Barcelona’s city center should cost about €930 for a one-bedroom apartment. For around €726, you can find a one-bedroom apartment outside of the city center. Apartments with three bedrooms will cost you €1,508 per month in the city center. An apartment in the city center would cost €1,100; outside the city center, it would cost €1,100.
Compared to other European cities, Valencia feels like a classic college town. There are plenty of parks for taking walks throughout the city. It is a very family-friendly area. Valencia has affordable rent, with a one-bedroom apartment in the city center costing as little as €751. Renting a one-bedroom apartment for €510 is accessible outside the city center. For approximately €1,100, you can rent a larger three-bedroom apartment in the city center. €745 ($880) is the price of a three-bedroom apartment outside of the city center.
Cost of communication and utilities in Spain
Utilities are always determined by your consumption, house size, and the season. Among the essential utilities in Spain are electricity, heating, cooling, water, garbage collection, and building maintenance. The cost of electricity and heating varies with the season. If it’s hot outside, you will probably use the air conditioner more often, resulting in a higher electric bill. Similarly, you will likely use the furnace more often if it’s cold outside.
An 85m2 apartment typically costs between €100 and €150 in utilities per month. Regarding communication, that depends on the plan you choose. Many people prefer to sign up for an all-inclusive program that includes phones, television, and the internet. Prices for these packages range from $20-50 per month. If you choose a high-speed 60Mbps cable or ADSL package, you can expect to pay around €40.
Cost of the meal in Spain
Spain is a very cheap country to eat out for lunch or dinner. You can find menus for 10 euros (including the first course, the second course, the drink, and the dessert). Although there is no menu for dinner, you can go to a restaurant for 15-20 euros and enjoy good food. A full meal can be had for 6 or 8 Euros if you focus on the fast-food options. This makes eating at a local restaurant a better choice.
The cost of living in Spain is not very high, as you have seen. The cost of living will differ significantly depending on where you live (Madrid, Barcelona, or Marbella are among the most expensive options) and what your lifestyle is like. With 20.000€ per year, you can still live comfortably and regularly enjoy going out for dinner. Spain is quite affordable if you use the public transportation system, take advantage of outdoor activities, and buy food at regular supermarkets.