Spain has a lot to offer. You get 3,000 hours of sunshine on average per year in the Costa del Sol. You can play golf, swim or just sit outside comfortably all year. You can enjoy the emptier roads, the excellent healthcare, the family-oriented lifestyle, the food and the wine, and your friendly neighbours.
But there’s another – more practical – factor that lures people to this passionate and sophisticated country: the relatively low cost of living. From buying a pint of beer in a bar to paying your rent each month, Spain compares favourably to other Western European nations.
To give you some perspective, we have compared the cost of living in Spain with the UK, France and Italy using figures from Numbeo – a crowd-sourced global database of perceived consumer prices – published in August 2023.
What is the average cost of living in Spain compared to other countries?
Average cost of living comparison
Spain
- Average cost of living for a single person (without rent): €673.10 per month
- Average cost of living for a family of four (without rent): € 2,360.60 per month
Other countries
- Average cost of living for a single person in the UK (without rent): €877.31 per month
- Average cost of living for a family of four in the UK (without rent): €2,993 per month
- Average cost of living for a single person in France (without rent): €914.50 per month
- Average cost of living for a family of four in France (without rent): €3,261.90 per month
- Average cost of living for a single person in Italy (without rent): €823.3 per month
- Average cost of living for a family of four in Italy (without rent): €2,866.60 per month
Cost of living comparison between Spain and the UK
- Consumer prices (without rent): 22% lower in Spain than in the UK
- Consumer prices (including rent): 25.3% lower in Spain than in the UK
- Rent prices: 32.8% lower in Spain than in the UK
- Restaurant prices: 31.8% lower in Spain than in the UK
- Groceries prices: 16.8% lower in Spain than in the UK
- Local purchasing power: 11.6% lower in Spain than in the UK
Cost of living comparison between Spain and France
- Consumer prices (without rent): 27.4% lower in Spain than in France
- Consumer prices (including rent): 23.5% lower in Spain than in France
- Rent prices: 11% lower in Spain than in France
- Restaurant prices: 26% lower in Spain than in France
- Groceries prices: 35.7% lower in Spain than in France
- Local purchasing power: 1.5% higher in Spain than in France
Cost of living comparison between Spain and Italy
- Consumer prices (without rent): 18% lower in Spain than in Italy
- Consumer prices (including rent): 12.2% lower in Spain than in Italy
- Rent prices: 7.8% higher in Spain than in Italy
- Restaurant prices: 20.6% lower in Spain than in Italy
- Groceries prices: 20.6% lower in Spain than in Italy
- Local purchasing power: 30.1% in Spain higher than in Italy
Spain performs favourably across the board against all three countries. The only factors it underperforms on are purchasing power compared to the UK – largely due to lower average incomes in Spain and a higher GDP per capita in the UK – and rent prices compared to Italy.
Average salary comparison
Spain
Average monthly net salary (after tax): €1,788.57
Other countries
Average monthly net salary in the UK (after tax): €2,711.08
Average monthly net salary in France (after tax): €2,302.51
Average monthly net salary in Italy (after tax): €1,564.92
Spain has a significantly lower average monthly net salary than the UK and France, but this is relative to its overall lower cost of living than both countries.
Typical costs you can expect to pay
| Type of expenditure | Spain | UK | France | Italy |
| Rent per month (three-bed apartment in the city centre) | €1,228.27 | €1,882.07 | €1,497.15 | €1,210.79 |
| Price per square metre to buy an apartment outside of a city centre | €1,983.19 | €3,922.37 | €4,267.94 | €2,172.24 |
| Internet per month (60 Mbps or more, unlimited data, cable/ADSL) | €33.24 | €35.50 | €29.41 | €27.69 |
| Utilities per month (electricity, heating, cooling, water, rubbish) for an 85m2 apartment | €129.54 | €244.70 | €165.98 | €193.71 |
| Domestic beer (0.5 litre draught) | €2.50 | €5.27 | €6.00 | €5.00 |
| Cappuccino (regular) | €1.75 | €3.53 | €2.92 | €1.53 |
| Three-course meal for two (mid-range restaurant) | €45.00 | €70.24 | €60.00 | €60.00 |
| Petrol (one litre) | €1.64 | €1.82 | €1.90 | €1.92 |
| One-way ticket (local transport) | €1.50 | €2.93 | €1.70 | €1.50 |
Price comparison overview
Spain generally has a lower cost of living compared to many other Western European countries. Housing costs and daily expenses are typically more affordable, especially in smaller towns and cities. However, popular tourist destinations like Barcelona and Madrid can be more expensive.
Mitigating currency risk exposure
You’ve crunched the numbers and it’s clear to see that the cost of living in Spain is favourable compared to other popular destinations in Europe. But if the euro is not your local currency, don’t forget that your money will be exposed to fluctuating exchange rates. These unpredictable market movements have the potential to erode the amount of money that will arrive in your new home.
To protect your budget from the impact of this currency market risk, it’s prudent to seek the services of a currency specialist. Search for the best deal by comparing the world’s leading companies here.
Tom Vicary
Author
