Sun-drenched beaches, sangria and tapas aside, one of the main reasons that people move to Spain is affordability. That means cheaper houses, lower council tax and also cheaper train fares.
Cost of living is cheaper than the UK
Of course one’s person’s idea of comfort varies from another’s but the cost of living in Spain is cheaper than the UK – 21%, according to the data analyst, numbeo.com. If you don’t live in a city such as Madrid, Barcelona, Bilbao or Palma, you will probably pay less for things such as annual taxes, transport and also rental rates. If you don’t go to the tourist-magnet bars in the best spots on the beach or the marina then you’ll also pay less.
Eating out
Inflation has increased the cost of food and energy across Europe, but what hasn’t changed is that in many locations outside the cities and the tourist hot spots you can still buy a menu del dia (menu of the day) for €10-15 which is not so easy to find across the UK. A cup of coffee can be less than €1, but the average is around €1.50. In many UK coffee shop chains, a coffee now costs between £3.50-£4.
Transport
Train and bus fares tend to be much lower, and in an effort to get people out of their gas-guzzling cars, the Spanish government has introduced free train travel on some routes until December 2023, and there are low-cost fares between the major cities on the new high-speed Iryo services.
How much does it cost to live in Spain per month?
According to numbeo.com in June 2023, a the cost of living for a family of four is around £2,016 (€2,349) a month without rent. For a single person, it’s £575 (€670) without rent. In tune with the information above, an average inexpensive meal is €12, a litre of milk €0.90, internet is €33 per month, mobile phone plan €20 a month, utilities €189 per month, based on a two-bedroom apartment.
Average salary in Spain
The average monthly net salary (after tax) in Spain is €1,782 (£1,532). The comparative for the UK is £2,304.46, with utilities at £204, internet at £30 and mobile average £11.62.
Of course buying an affordable property without taking finance will allow you to live mortgage-free too. On many of the developments near the coast where apartments with use of a communal swimming pool are popular purchases, a typical community charge might be €50-60 per month.
You might be able to live relatively cheaply but can you afford the minimum income requirement for your visa? For a non-lucrative visa (NLV) in 2023 it is €2,399.46 per month, or €28,793.51 per annum for a couple.
