Spain does well in cost of living comparison
The British market after Brexit British market strengthens after Brexit certainty The UK market has been one of the main sources of tourists and property buyers on the Costa del [...]
No matter where you live in the world you always notice prices going up, but comparing your home town or country with others can provide an interesting perspective on relative costs.
A recent study by the Numbeo website found that when compared to the USA, for instance, Spain comes out over 20% cheaper across the board and more than 43% cheaper for rental properties.
Eating out in Spain is about €35 per person cheaper than in America, wine is much cheaper too, though the difference is small when it comes to soft drinks and beer. Meat is generally €10/kilo cheaper in Spain, while taxis are on average €20 less costly for a one-hour drive, and basic monthly utilities can be over €100 less for a small apartment, let alone a big property.
In Spain, your average monthly fee for joining a fitness club will be over €35 less, a cinema ticket is €8 lower, and you will pay almost €70 more in the USA for a pair of Levi jeans or Nike running shoes – and they’re American!
A nice pair of men’s leather shoes will set you back over €80 more, though admittedly they’re likely to come from Italy, or even Spain.
Education and healthcare, however, are the real big bills in the USA, and in Spain putting your child in primary school will cost around €6,775 less per year, while public healthcare is readily available here and monthly rent on a three-bedroom city centre apartment would on average cost you over €1,000 less.
The USA might be expensive, but though Spain forms part of the European Union and the Euro Zone, its cost of living comes in below the average for Europe too.
This is particularly true when you compare the price of food, eating out, property prices, rentals, fuel, cars and many other items with rates in Northern Europe, where many of the property buyers in Spain come from.
They are therefore drawn not only by the weather and the quality of life, but also by attractive prices, a lower cost of living and interesting investment opportunities.
Altavista Property is a specialist in luxury new build properties on the Costa del Sol, so contact us if you are thinking about buying in this beautiful part of Spain.