There are many considerations for those exploring the potential of a new life in Spain. Housing, mortgages and employment are just a few on the list, but how much money do you need to live comfortably in Spain?
Spain is a dream destination for many, offering a rich cultural heritage, beautiful cities and towns, and a very desirable warm climate. Whether you're planning to retire or relocate, understanding the cost of living is crucial for a comfortable life.
Let’s take a closer look at the costs associated with life in Spain.
Understanding the average living costs in Spain
Spain offers a relatively affordable cost of living compared to many other European countries and the US. However, the amount you’ll need depends on factors like your location, lifestyle, and whether you're renting or buying a property.
Of course, major cities like Madrid and Barcelona are some of the most expensive Spanish locations to call home. They have a wealth of amenities on your doorstep, but with this comes a higher cost for housing and other living expenses.
Smaller cities like Valencia or Seville will typically be a bit more affordable and may be a good compromise for those who want more accessible city living.
Rural areas (outside of major tourist hotspots) will often be the most affordable, providing many of the signatures of Spanish living without the higher costs found in the city.
So what are these costs that buyers need to consider when looking at ideal locations and searching for their dream Spanish property?
Key expenses to consider
Housing costs
Housing will likely be your biggest expense when moving to Spain. Renting and buying prices vary widely depending on location, and it’s important that you target your search in areas that are both practical for you and affordable.
Popular tourist locations will often be more expensive, particularly those near beaches or with desirable views.
You may have additional costs to consider when buying a home if relying on a mortgage.
Not only will you need a larger deposit for a home if you are a non-resident buyer, but you will also need to account for around 10-15% of the property price for taxes and buying fees.
Learn more about the cost of buying a home in Spain.
Utilities
Utilities in Spain will of course depend on your property but the average cost is between €100-€170/month for a small home or apartment. This includes water, gas, electricity and household waste costs.
An internet connection will cost between €30 and €50 for most homes.
Groceries
Spain is famous for its fresh food and is generally quite affordable for groceries compared to the UK and US.
A monthly food budget for a single person is around €200 with costs for a family of four sitting at around €500.
Transportation
The location you choose can greatly impact the options available to you but generally Spain has excellent public transportation.
Rural areas may have more limited public transport but car ownership in Spain is affordable.
- Monthly public transport pass: €40–€60 in large cities.
- Car ownership: On average, around €100–€150/month for fuel, insurance and maintenance.
Healthcare
Spain offers free public healthcare to its residents, but non-residents or private healthcare users should aim to budget for private insurance. This costs between €50–€200/month per person on average.
Leisure and dining out
If you’re moving to Spain you’ll likely want to experience things outside of your home. With a rich culture to explore, Spain has lots to offer.
So what lifestyle expenses can you expect to encounter?
- A three-course meal at a mid-range restaurant will cost approximately €20–€30 per person.
- A coffee will be between €1.50–€3.
- A gym membership will likely cost between €25–€40/month.
Can you live comfortably in Spain on €1,500 a month?
It is definitely possible to live on €1,500/month in Spain, particularly in smaller cities or rural areas. This budget would, however, require some careful planning.
In larger cities where expenses are higher a comfortable budget may be more in the region of €2,500/month.
Is €35,000 a year a good salary in Spain?
A salary of €35,000/year is above the national average and can support a comfortable lifestyle in most parts of Spain.
In larger, more expensive cities, you may need to budget carefully to account for higher housing and living expenses. In smaller cities, this income offers a very comfortable standard of living.
Retiring in Spain: how much do you need?
Retirement in Spain is a popular choice, thanks to the country’s relaxed pace of life, warm weather, and excellent amenities.
But what will you need financially for a comfortable life in Spain?
Single retirees in affordable areas should aim for €1,200–€1,800/month whilst couples retiring to Spain may consider a budget of €2,000–€2,800/month.
To truly enjoy Spanish life and retirement it’s always a good idea to budget for more than just basic living expenses. Consider things like entertainment and meals out, and don’t forget about additional costs like healthcare.
Cost of living in Spain vs. the UK
Spain’s cost of living is significantly lower than the UK in almost every category, particularly in more affordable rural areas.
- Housing: Rent in Spain is 20–40% cheaper.
- Food: Groceries and dining out are much more affordable.
- Utilities: Utilities are generally cheaper in Spain.
For example, a single person living in London may need €3,000/month to maintain the same standard of living as someone in Madrid spending only €2,000.
Tips for reducing living costs in Spain
So how can you reduce your costs to live comfortably in Spain?
- Choose Your Location Wisely: Smaller cities and rural areas offer significant savings for housing and can completely alter your quality of life in Spain if you’re working to a budget.
- Shop Locally: Purchase groceries at local markets for fresh produce at lower prices.
- Use Public Transport: Use buses, trams and trains to explore the rich landscape on offer in Spain without the expense of a car.
- Share Accommodation: If you’re on a tight budget, sharing a flat can save on rent and allow you to split utilities.
Spain’s cost of living varies depending on your location and lifestyle, but it remains an affordable and attractive destination for both residents and expats.
By understanding the key expenses and planning your budget carefully, you can enjoy Spain’s vibrant culture, fantastic food, and sunny weather without financial stress.
Whether you're relocating for work, retirement, or adventure, Spain offers a lifestyle that’s hard to beat.
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