We at Homenetspain get a lot of questions about what it costs to live in Spain. We thought that the magazine "Hej Spanien" reproduced an English study of what it costs in different European countries (unfortunately Sweden was not included - but probably would not have come that high......):
"Spain emerges as the cheapest country to live in in 2024, according to an index that looks at a wide range of the cost of living including food, gasoline and energy bills.
The Cost of Living Overseas Index looks at prices in 13 countries and compares prices in the UK to prices in: Spain, France, Italy, Portugal, Cyprus, Greece, Ireland, Germany, the United States, Canada, Australia and New Zealand. Property Guides compiled the data in December 2023, so the costs are fresh.
Unlike other reports that primarily focus on travel or vacation expenses, the report delves deeper into everyday living expenses. The aim is to provide a realistic perspective on the day-to-day expenses an expatriate, holiday home owner or retiree may encounter when settling into a new home abroad.
Last year, Italy was ranked as the cheapest country to live in, with Greece in second place. Followed by Portugal, France and Spain.
This year, Spain has climbed from fifth to first place and now claims the place as the cheapest country to live in, followed by Italy, Portugal, Greece and Germany.
The "basket" of goods and services is made up of everyday staples such as a gallon of milk and a loaf of bread. However, they do add some British favorites like tea bags and a bottle of gin. Also included is the cost of setting up a new home, including furnishing materials, a trip to IKEA, and the cost of a cleaning lady.
The index also took into account other costs, looking at rental car prices, energy bills, gas costs, Netflix subscriptions, and movie tickets.
Part of the explanation is that many food items are VAT-free in Spain and it's cheaper to eat out in restaurants."
If you want to know more about the prices, take a look at The Cost of Living Overseas Index 2024. There are also real deep dives, country by country. If you have any questions or want help finding your dream home, please contact us at Homenetspain.
