Many people who are thinking of buying in Spain are attracted not only by the fantastic weather, culture and scenery but also by the excellent value of day to day living in Spain.

The cost of living in Spain is reported to be much cheaper than in other EU countries such as France and Germany and is on average, around 30% lower that in the United Kingdom.

Recent studies suggest that Spain is cheaper than the UK with regard to expenses such as accommodation, food, alcohol, eating out and transport.

Rents are around 45% less in Spain, you can save around 10-15% on your weekly shop and eating out.. well, its hardly worth eating in! There may also be some tax advantages for you too.

Whilst some things are more expensive, the costs of some utility bills can be higher in Spain when compared with the UK, essentials such as toiletries and tea tend to be more and clothing can be more expensive – depending on where you shop of course.

Cities such as Madrid and Barcelona and areas such as Marbella and Mallorca are unsurprising some of the more expensive areas of Spain in terms of costs of living but still present good value when compared to bigger cities in the the UK. Areas such as Almeria, Cartagena and Alicante offer a cost of living at the cheaper end of the Spectrum.

Getting around in Spain in relatively cheap in most areas too. Spain has a fantastic public transport system, which provides excellent value for money. This in turn means that other options such as taxis in Spain are usually inexpensive too.

Local beer in Spain can be enjoyed for about €2 for half a litre and you can pick up a fairly decent bottle of Spanish wine from €3! A cup of coffee costs on average aorund €2.

The costs of living in Spain for those working in Spain does not necessarily present good value however as the lower costs are relative the wages in Spain which are on average much lower than in the UK.

For anyone thinking of making the move to Spain and considering the costs of living, you should also factor in the additional costs such as flights back to the UK to visit family, any healthcare and health insurance costs and professional fees to help manage your taxes and accounts in Spain.

As with everything, if you are thinking of moving to Spain, you should make sure you do you research about the area that you are planning to live in the make sure that your budget stacks up, as the costs of living do vary from region to region.  For the most part however Spain does provide a fantastic way of life and great value for money.

If you require any assistance with your plans to move to Spain, download our helpful guide here,  or contact us on 01244 478 911 or at info@totalbuyingabroad.com.

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Article published: August 14, 2016