Spain is a fantastic Mediterranean country that attracts not only tourists, but also thousands of expats. Living here is the dream of many people in the world. Is it expensive to live in Spain? Find out what prices for housing, food, entertainment and more are here in 2024
Beautiful weather, delicious cuisine, amazing nature, rich culture and a measured lifestyle attractSpain of expats, pensioners and digital nomads from all over the world. Currently, more than 6 million foreigners live in the country, but due to favorable migration conditions, the number of expats will only increase.
Another advantage of Spain is that despite the high standard of living, its cost here is quite low. In fact, it is one of the cheapest Western countries Europe.
How much does it cost to live in Spain? We tell you more.
Is it expensive to live in Spain?
Living here is quite inexpensive. For a comfortable life in Madrid, the capital of Spain, a family of two needs to have a budget from 1800 to 1950 euros per month. In rural areas or outside large cities, these costs amount to about 1,300-1,500euros per month. The estimated monthly cost per person is 1,664€.
The cost of living in Spain is lower than in 52% of the world’s countries.
The cost of housing in Spain
One of the main advantages of moving to Spain is the affordable cost of housing. Regardless of whether you are planning to rent or buy a property, you will probably find something within your budget.
Real estate rental prices in Barcelona
In popular tourist destinations such as Barcelona and Valencia, the average cost of renting a furnished one-bedroom apartment ranges from €1,200 to €2,000 per month, depending on the size and location of the property.
The cost of housing in Madrid
Among expats, Madrid is one of the most popular places to stay in Spain. The average cost of renting a studio apartment in the center of Madrid is 1,500euros per month. Outside the center, such an apartment will cost an average of 950€.
Rental prices in small towns in Spain
In small towns, such as Seville, rent is cheaper. The cost of a studio apartment in the city center is 500€, outside it 450€. In the northwestern region of Bilbao, Santander and San Sebastian, the average rental price for a two-room apartment starts from 800€ and above.
How much does it cost to buy a property in Spain?
The prices for the purchase of real estate also depend on the city. In Barcelona and Valencia, the average cost of a one-bedroom apartment is 170,000euros, while the price of a new two-bedroom apartment in Barcelona starts from 250,000euros. Valencia is a little cheaper than Barcelona, so you will get a little more value for money.
In smaller cities such as Murcia and Granada, it is closer to €90,000 per bedroom.
You can purchase a new studio apartment in Santander for the amount of €155,000 and €175,000 in Bilbao. In San Sebastian, prices for new two-bedroom apartments start from €250,000.
Important! Be sure to check whether the house you are buying or renting has a certificate of suitability for living. If it is forbidden to live in it, you will not be able to register here, which means that you will not get access to the local health care system.
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