Comparing the costs of living in Spain

Are you planning to move to Spain or buy a holiday home in one of the seaside resorts? Wondering where to buy property? We have compared the costs of living in several popular Spanish cities - find out where investing really pays off.

How much does it cost to live in Spain?

Beautiful weather, idyllic views and attractive property prices are only a few factors encouraging people to invest in Spain. Spain, compared to other European countries, is also distinguished by its relatively low costs of living. Hence, many foreign investors decide to move to here permanently or buy a holiday house.

Of course, the costs of living in Spain will vary considerably depending on the region or city. You have to be prepared for the fact that in typical tourist locations, such as Barcelona or Madrid, not only will we pay more for the property itself, but also the maintenance will be more expensive.

Not sure which place to invest in? To make things easier, we have prepared a summary of the costs of living in the following cities:

• Madrid,
• Barcelona,
• Valencia,
• Alicante,
• Benidorm,
• Murcia.

In the following section of the article you will find information about estimated maintenance costs - prices of basic food products, utility charges, rent and transport. All data come from Numbeo and Traveltables - services providing information on costs of living, earnings and property prices in specific cities.

The costs of living in Madrid

Madrid is the most expensive city in Spain. However, it is worth mentioning that in comparison with other worldwide cities, such as: London, Paris or New York, the costs or living are more considerate. The monthly costs of living in Madrid for one person, without rent, amount to ca. EUR 678.

When it comes to fees connected with living in Madrid, the rent may amount to:

In addition, we have to reckon with the fact that the monthly utility fee for the 85 m² apartment in Madrid will amount to ca. EUR 128.

Let’s proceed to prices for basic food products in Madrid:

However, if we plan to eat at a medium-priced restaurant in Madrid, we have to prepare for a cost of about EUR 55 for a meal for two people. Of course, if we try, we will find more affordable restaurants with great offers, e.g. the so-called menu del dias (the menu of the day), starting at EUR 12.

Transport prices are also a very important issue. Traveling by public transport in Madrid costs ca. EUR 1.5 for a single ticket or ca. EUR 55 for a monthly ticket. In turn, the price for 0.22 gal of petrol amounts to ca. EUR 1.35.

The costs of living in Barcelona

Catalonia, where Barcelona is located, is one of the most expensive regions in Spain. In addition, Barcelona itself is definitely one of the most costly cities in the country (right after Madrid). It is estimated that the monthly cost of living for one person is about ca. EUR 668 - without rent.

Here is the monthly rent for a flat/apartment in Barcelona depending on its location and the number of bedrooms.

As far as the charges for utilities (electricity, water, gas, heating and waste disposal) are concerned, in Barcelona it is usually around EUR 138 per month - for an apartment of 85 m².

Prices for basic foodstuffs in Barcelona:

Spain is well-known for its cuisine and therefore, it is important to mention prices in local restaurants. The Barcelona gastronomy is very rich - with expensive, but also affordable restaurants. Some of them offer cheaper dinners – e.g. menu del dias. Depending on the restaurant, the prices may start at just EUR 11. On the other hand, when going to a mid-priced restaurant, we have to reckon with a meal for two people that will cost ca. EUR 50.

Transport prices are also a very important issue. In Barcelona, a single trip by public transport costs ca. EUR 2.20. Seasonal tickets are also available - for a monthly ticket we will pay ca. EUR 47. If you plan to travel by car, in Barcelona you will pay ca. EUR 1.34 for 0.22 gal of petrol.

The costs of living in Valencia

It is not without reason that the region of the Autonomous Community of Valencia arouses interest among many investors. Even its capital, Valencia, guarantees very affordable property prices and quite low costs of living. One person usually spends about EUR 590 + rent for basic monthly expenses,.

The fees connected with living in Valencia are much lower, compared to those in Madrid or Barcelona. Utilities amount to ca. EUR 121 per month (for an apartment of 85 m²).

The monthly rent in Valencia amounts to:

In turn, transport in Valencia costs:

• ca. EUR 1.5 for a single public transport trip,
• ca. EUR 42 for a monthly public transport ticket,
• ca. EUR 1.31 for 0.22 gal of petrol.

In Valencia we will also pay less for basic foodstuffs:

However, if you try Spanish specialties in one of the local restaurants, you will pay:

• ca. EUR 10 for the so-called menu del dias,
• ca. EUR 46 for two people in a restaurant of a slightly higher standard.

The costs of living in Alicante

If you've been looking for an attractive place to invest in for some time now, we're sure that Alicante is no stranger to you. Alicante is located on the Costa Blanca and provides investors with excellent properties at still very affordable prices. The city is also famous for its beautiful sandy beaches and many typical tourist attractions. But it's not just the picturesque views that make living in Alicante really pleasant - the costs of living here are not as high as you might think.

The basic expenses for one person in Alicante are estimated at around EUR 577 per month (without rent). For electricity, heating, water and waste disposal in Alicante we will pay ca. EUR 87 per month (in case of an 85 m² apartment). The rent usually amounts to:

As far as transport prices in Alicante are concerned, depending on whether we use public transport or our own car, we will pay:

• ca. EUR 1.45 for a single public transport ticket,
• ca. EUR 43 for a monthly public transport ticket,
• ca. EUR 1.33 for 0.22 gal of petrol.

In local shops the prices of basic food products are as follows:

It is also worth adding what the prices in restaurants in Alicante are like. Sometimes we may find menu del dias offers starting at ca. EUR 11 per meal for one person. However, a visit to a mid-priced restaurant amounts to ca. EUR 44.5 (for two people).

Are you interested in investing in Alicante? Check the property offers in Alicante

The costs of living in Benidorm

Benidorm is one of the resorts on the Costa Blanca, which has become very popular among foreign investors. The city has excellent entertainment facilities, but also guarantees fantastic conditions for relaxation. Although the cost of living in Benidorm may be slightly higher than in other cities in this region of Spain, it is still really affordable. 

Fees connected with living in Benidorm:

The utility fee in Benidorm for a 85 m² apartment amounts to ca. EUR 181 per month.

Now let's look at the prices of food products in Benidorm:

Going out to a restaurant in Benidorm shouldn't affect your budget much. Some local restaurants offer slightly cheaper meals as part of menu del dias starting at EUR 12. In a mid-priced restaurant you will pay about EUR 40 for two people.

Wondering how to travel in Benidorm? If you choose public transport, a single ticket will cost you ca. EUR 1.5 and a monthly ticket will cost about EUR 40. However, if you decide to travel around the city with your own car, you will pay ca. EUR 1.39 for 0.22 gal of petrol.

Are you thinking about investing in this area? See property offers in Benidorm.

The costs of living in Murcia

Due to relatively low property prices and maintenance costs, Murcia may be a very promising destination for investors. The cost of living in Murcia alternates between EUR 552, without rental fees. Of course, the amount of rent will vary depending on where the property is located and its area.

Expenditure related to living in a flat also includes utilities. It is estimated that such fees in Murcia amount to ca. EUR 124 per month (for an 85 m² apartment).

Before taking a decision to buy a property in a given location, it is also worthwhile to get to know the prices of basic food products. Here are the prices in Murcia: 

As for meal prices in restaurants in Murcia, they are as follows:

• from ca. EUR 10 for a slightly cheaper meal within the so-called Menu del Dias (prices may be higher depending on the restaurant),

• ca. EUR 40 for two people in a mid-priced restaurant.

Transport prices in Murcia are also quite favourable. The price of a single public transport ticket amounts to ca. EUR 1.42. In turn, the purchase of a monthly ticket will cost ca. EUR 25. In addition, people who plan to commute by car will pay ca. EUR 1.29 for 0.22 gal of petrol.

Are you considering investing in Murcia? Check the available property offers.

Need help choosing the best place for your investment? Contact us and tell us what property you are looking for. We will advise you on which location will be the best choice depending on your investment goal. We will also prepare property offers that are strictly tailored to your needs.

Planning an investment in Spain? Read our articles with advice for future investors:

• 7 tips before you buy property in Spain
• Property purchase - 3 tips to start with
• How to invest safely in Spain