Cost of Living in Spain 2024: A Detailed Examination

Introduction

Spain, with its pleasant climate, rich history, and vibrant culture, has become a popular destination for expatriates and tourists from all over the world. Whether you’re considering moving to the bustling streets of Barcelona or the tranquil beaches of the Costa del Sol, it’s essential to understand the cost of living before making a move.

In this article, we will provide a detailed breakdown of daily expenses in Spain, from housing and food to transportation and entertainment. In addition, we will compare these costs with those of other European countries to give you a clear idea of how Spain compares in terms of cost of living.

According to the most recent data, the cost of living in Spain is significantly lower than most of North America, making it an attractive option for those seeking a better lifestyle and wanting their money to go further. However, how does Spain compare with other European countries? Join us on this journey as we explore the Spanish dream and what it really costs to live in this beautiful country.

Keep reading to discover more about the cost of living in Spain and how it compares to other popular destinations in Europe! Let’s go!

1. Housing

Rent

In 2024, life in Spain’s major cities presents a diverse picture in terms of rental costs. In Madrid, the average rental price is 25.04 eur/m², while in Barcelona it is 29.84 eur/m² and in Valencia it is 17.97 eur/m². This means that, for example, a one-bedroom apartment of 50 m² would cost around 1,252€ in Madrid, 1,492€ in Barcelona, and 898.5€ in Valencia.

On the other hand, smaller cities like Granada, Albacete, and Oviedo offer more affordable options with average rental prices of 10.56 eur/m², 7.66 eur/m², and 10.19 eur/m² respectively. Therefore, a one-bedroom apartment of 50 m² would cost around 528€ in Granada, 383€ in Albacete, and 509.5€ in Oviedo. (Prices as of June 10, 2024 to Idealista.com)

It’s important to note that rental costs can significantly vary between city centers and suburban areas. Generally, rents in city centers tend to be higher due to proximity to key amenities and services.

Read more: Cost of Housing in Spain 2024: Rent and Buy in 21 Largest Cities

Property Purchase

As for property purchase, the average prices per square meter vary in different regions of Spain. According to the most recent data, the average sale price of a house in Spain in 2024 is 415,800€, or 2,079€ per square meter.

In addition to the property purchase costs, there are also additional expenses to consider. These can include property tax, which generally ranges between 0.4% and 1.1% of the property’s cadastral value, and maintenance costs, which can vary depending on the type and location of the property.

2. Utilities

Electricity, Heating and Cooling

In 2024, electricity costs in Spain have seen a significant increase. The average price of electricity is 44.61 euros per MWh. However, it’s important to note that these prices can vary depending on the season and demand.

As for heating and cooling, natural gas is one of the most economical energies to heat your home in winter. According to forecasts, the price of natural gas in 2024 will increase between 15 and 20%, reaching 122€ per MWh in the first quarter of the year.

Water and Garbage

The cost of water in Spain has seen an increase in 2024. On average in Spain this price is 1.91 euros per cubic meter. As for garbage, the average rate, which is around 92 euros per dwelling, only covers 60% of the total cost.

Internet and Mobile Phone

In 2024, internet and mobile phone rates in Spain have seen an increase. According to the most competitive offers in Spain, the approximate prices for fiber, landline, mobile and TV offers in 2024 are as follows:

• Movistar: Offer of 1 GB fiber + 2 mobile lines + Netflix at a price of 97.90 € for 3 months.
• Vodafone: Offer of 600 MB fiber + 2 mobile lines at a price of 68.90 € per month.
• Orange: Offer of 500 MB fiber + unlimited mobile data at a price of 105.00 € per month.
• Yoigo: Offer of 500 MB fiber + unlimited mobile + TV + streaming at a price of 67.00 € per month.
• Virgin Telco: Offer of 600 MB fiber + TV at a price of 42.00 € for 3 months.
• MásMóvil: Offer of 1 GB fiber + 2 mobile lines at a price of 41.90 € for 3 months.

We hope this guide helps you get a clearer idea of the cost of living in Spain in 2024. Remember that these prices can vary depending on location and personal consumption. Welcome to Spain!

3. Food and Groceries

Supermarket Prices:

Spain is a country with a rich culinary culture and a wide variety of fresh and high-quality foods available in supermarkets. Here is a list of the costs of some basic foods:

• Milk (1 liter): €1.03
• Bread (1 kg): €1.27
• Eggs (a dozen): €2.45
• Chicken meat (1 kg): €6.90
• Beef (1 kg): €13.00
• Fruits (apples, 1 kg): €1.97
• Vegetables (tomatoes, 1 kg): €2.22

These prices can vary depending on the region and the supermarket, but they give you a general idea of the costs of basic foods in Spain.

Eating out:

The dining experience in Spain is diverse and exciting, with a wide range of restaurants offering everything from local dishes to international cuisine. Here is a range of prices for meals in restaurants:

• Economic restaurant (menu of the day): €12.00
• Mid-range restaurant (meal for two, two courses and dessert): €50.00
• High-end restaurant: Prices can vary considerably, but you can expect to pay from €100 to €200 per person, depending on the restaurant and the menu.

Cost of common drinks:

Whether you prefer a coffee in the morning, a beer at the end of the day, or a wine to accompany your dinner, here is an idea of the costs of the most common drinks in Spain:

• Cappuccino Coffee: €1.85
• National beer (0.5 liters): €1.03
• Imported beer (33cl bottle): €1.68
• Bottle of Wine (Medium quality): €5.00

It’s important to remember that these prices are averages and can vary depending on the location and establishment.

In summary, Spain offers a wide range of options for all budgets, from local markets to high-end restaurants. With its rich culinary culture and commitment to quality, Spain is truly a paradise for food lovers.

4. Transportation

Public Transportation

Public transportation in Spain is efficient and accessible, with a wide network of buses, trams, and metros in major cities. Here are the average costs of monthly passes in 2024:

• Madrid: The monthly pass for public transportation in Madrid costs around 54.60€ for Zone A and up to 131.80€ for Zone E2.
• Barcelona: In Barcelona, the cost of the monthly pass ranges from 21.35€ for Zone 1 to 60.70€ for Zone 6.
• Valencia: In Valencia, the cost of the SUMA monthly pass ranges between 35.00€ for Zone 1 and 131.00€ for Zone ABCD+.

Owning a Car

Owning a car in Spain involves several costs, including fuel, insurance, maintenance, and parking.

• Fuel: In 2024, the average price of gasoline in Spain is 1.68€/l.
• Insurance: The average cost of car insurance in Spain has increased by 28% in the first quarter of 2024, with an average annual premium of 938.49€.
• Maintenance: The cost of maintaining a car in Spain can range from 60€ to over 500€, depending on the type of maintenance and the price of labor.
• Parking: Parking costs can vary depending on the city and location within the city. On average, a person in Madrid will spend around 155€ per month, while in Barcelona this expense is around 163€.

Bicycling and Walking

Bicycling and walking are popular and sustainable transportation options in Spain. In 2024, bicycle use has increased by 40% compared to 2019. In addition, Spain is the second European country that walks the most, with 55% of the population choosing this option for short distances.

The infrastructure for bicycles and pedestrians in Spain has significantly improved in recent years. The Ministry of Transport, Mobility and Urban Agenda has published a guide with recommendations for the deployment of bicycle infrastructures. In addition, several Spanish cities, such as Logroño, Elche, Valladolid, Gijón, Palma, Castellón, Valencia, and Madrid, are developing infrastructures to improve the safety and comfort of cyclists and pedestrians.

In summary, living in Spain offers a variety of transportation options to suit different lifestyles and budgets. Whether you prefer public transportation, driving your own car, or enjoying the outdoors by bicycle or on foot, there are options available for you.

5. Healthcare

Public Health Care

Public health care in Spain is recognized for its high quality and accessibility. In 2024, public health spending in Spain reached 94.7 billion euros, reflecting the country’s commitment to the health of its citizens and residents.

Primary care, which is the first line of care in the health system, received an allocation of 4.976 billion euros, an increase of 23.1 million more than in 2023. This demonstrates the importance given to primary care in the Spanish health system.

In terms of individual costs, the per capita budget for primary care in 2024 ranged between 150.9 euros in Madrid and 402 euros in Extremadura, with a national average of 287.4 euros.

Private Medical Assistance

Private health insurance in Spain offers an alternative to public health care, providing access to a wide network of specialists and hospitals, and additional personalized services. In 2024, the average cost of private health insurance in Spain was 61.2 euros per month.

This cost can vary significantly depending on several factors, including the age of the insured, the scope of coverage, and pre-existing conditions. For example, for a young person of 24 years, health insurance prices can start from approximately 20 euros per month, while for someone of 40 years, the price could start from around 30 euros per month.

It is important to note that the costs of private health insurances in Spain were expected to increase by 7.63% in 2024, reflecting the global trend of increasing healthcare costs.

In summary, both public health care and private medical assistance in Spain offer viable options for expatriates, each with its own advantages and cost considerations. At the end of the day, the choice between public health care and private medical assistance will depend on the individual needs and personal circumstances of each expatriate.

6. Education

Public Schools vs Private Schools

In Spain, public education is free from early childhood education to compulsory secondary education (up to 16 years old). However, there are additional costs that families should consider, such as school supplies, excursions, and in some cases, the dining service.

As for private schools, costs can vary considerably. On average, private schools in Valencia have an annual cost of 5232 euros per student. However, the price of tuition and monthly fees for a private school in Spain can range between 300 and 1000 euros per month. Some elite schools can have much higher costs, even exceeding 2000 euros per month.

For example, the German School of Valencia, one of the most popular private schools in Valencia, has a cost ranging between 300 and 700 euros per month. Another popular private school, the British School of Valencia, has a cost exceeding 700 euros per month.

Higher Education

Higher education in Spain is offered by a variety of public and private institutions. For local students, the cost of university tuition ranges between 800 and 2,000 euros per year. However, this price may be different for international students.

For international students, tuition fees can be higher, ranging between 1,500 and 3,500 euros per year. However, these costs can vary depending on the university and study program. Therefore, it’s essential for international students to research and contact universities of their interest for accurate information on tuition fees.

In summary, education in Spain offers a variety of options for all students, both local and international. Whether you choose a public or private school, or a public or private university, you can be assured that you will receive a high-quality education in a country rich in culture and history. However, it’s important to research and plan ahead to ensure you are prepared for the costs associated with education in Spain.

7. Leisure and Entertainment

Gym and Sports Memberships

In 2024, the fitness sector in Spain has experienced steady growth. The average revenues per user range from just over 20 euros for low-cost gyms to more than 60 for other private centers, including high-value or “premium” ones. However, the inflationary spiral will affect the prices of the sector, as almost nine out of ten sector executives state that due to the current economic situation they will increase prices.

Cinema and Theatre

Cinema and theatre are an integral part of cultural life in Spain. In 2024, the Fiesta del Cine returns with four consecutive days where tickets in most of Spain’s cinemas will have a reduced single price: 3.5 euros. In addition, there is the abonoteatro, a flat rate of leisure for which you pay 49.90 euros per year and with which you can access a wide offer that includes theatre, cinema, museums, sports, music and other activities for free in Madrid.

Outdoor Activities

Spain is a country rich in outdoor activities. From cultural festivals to outdoor markets, there are options for all tastes and ages. In 2024, a new edition of the Under-18 Outdoor Track Spanish Championship takes place, with a registration cost per athlete of 10€. In addition, there are a large number of outdoor activities that you can enjoy, such as boat tours, beaches, equipment rentals, diving and snorkeling.

In summary, Spain offers a wide range of leisure and entertainment options for expatriates in 2024. Whether you prefer to exercise in the gym, enjoy a movie at the cinema, or explore the natural beauty of the country, there is something for everyone. Come and discover all that Spain has to offer!

8. Comparison with other European countries

Accommodation

In 2024, rental and property prices in Spain are considerably lower compared to other European countries. For example, the rent for a furnished 85 m2 flat in a normal area of the city in Spain is approximately €944. In contrast, prices in France, Germany, Italy, and the United Kingdom are significantly higher. In France, similar rent costs around €1.290, in Germany it is €1.576, in Italy it is €1.244, and in the United Kingdom it is £1.471.

Utilities and Food

The typical monthly costs of utilities and groceries in Spain are also lower compared to these countries. In Spain, electricity, water, and gas expenses for 2 people in an 85m2 flat are €118. In France, these expenses are €197, in Germany they are €230, in Italy they are €210, and in the United Kingdom they are £206. As for food, a full menu in a fast food restaurant in Spain costs around €9, while in France it costs €11, in Germany €10, in Italy also €10, and in the United Kingdom £8.

Transportation

In terms of transportation, Spain also offers more competitive prices. The price of a new Volkswagen Golf 1.4 tsi 150 cv (or similar), without extras in Spain is €27.324. In France, this car costs €30.827, in Germany it is €32.970, in Italy it is €30.941, and in the United Kingdom it is £25.968.

Health and Education

The quality of health and education in Spain is high and the costs are competitive compared to other European countries. However, these costs can vary depending on the region and the type of service (public or private).

General Cost of Living

In general, the cost of living in Spain is lower compared to France, Germany, Italy, and the United Kingdom. According to Numbeo and Expatistan, two internationally recognized cost of living indices, Spain ranks as one of the countries with the lowest cost of living in Western Europe.

In summary, Spain offers a high quality of life at a relatively low cost compared to other European countries. This makes it an attractive destination for expats looking for a new life in the sun.

9. Tips for Expats in Spain

Saving Money to Live in Spain

Living in Spain can be an enriching experience, but it can also present financial challenges. Here are some tips to help you save money while living in Spain:

1. Review your expenses: The first step to saving is to review your expenses. Often, we are surprised to discover forgotten subscriptions or unnecessary expenses that drain our bank balance.
2. Set realistic savings goals: Set clear savings goals for the short and medium term. This could include an emergency cash fund or a fund for a specific goal.
3. Automatic Savings Method: Consider setting up an automatic transfer to your savings account each month. This will help you save without having to think about it.

Finding Affordable Housing

Finding affordable housing in Spain can be a challenge, especially in larger cities. Here are some tips:

1. Explore different areas: Spain’s larger cities, like Madrid and Barcelona, can be expensive. Consider living on the outskirts of the city or in smaller cities where the cost of living may be lower.
2. Consider shared housing: If you’re traveling alone, sharing a flat can be an affordable option. The cost for one person is around €350 per month.
3. Seek help: There are organizations and programs that can help you find affordable housing. For example, the Affordable Rental Housing Plan offers rental homes at affordable prices.

Navigating the Local Market

Spain is famous for its rich culinary culture and vibrant entertainment scene. Here are some tips for finding the best deals:

1. Food: Spain has a wide variety of restaurants and pizzerias that offer delicious food at reasonable prices. Additionally, you can save money by cooking at home. The most well-known supermarkets are Lidl and Mercadona, where you can find basic products at a good price.
2. Services: Consider using personal finance apps to keep track of your expenses. This can help you identify areas where you can save money.
3. Entertainment: There are many fairs and gastronomic routes that you can enjoy in Spain. You can also look for free or low-cost events in your local area.

Remember, living in Spain is more than just managing your finances. It’s an opportunity to immerse yourself in a new culture, learn a new language, and make new friends. Enjoy the experience!

Conclusion

In summary, Spain stands out as an appealing destination for expatriates due to its relatively low cost of living compared to other European countries, along with a high quality of life. The detailed breakdown of housing, utilities, food, transportation, healthcare, education, and entertainment expenses highlights Spain’s affordability. Major cities like Madrid, Barcelona, and Valencia offer diverse rental and property purchase options, while smaller cities provide even more budget-friendly living conditions. Essential services like public transportation and healthcare are not only efficient but also reasonably priced.

Spain’s culinary richness and vibrant cultural scene make it a paradise for food lovers and those seeking a dynamic lifestyle. With a variety of affordable dining options and an active outdoor lifestyle, Spain caters to all tastes and preferences. Moreover, the education system, both public and private, ensures quality learning experiences, making it suitable for families as well.

The comparison with other European countries underscores Spain’s economic advantages, especially in housing and everyday expenses. Expats can enjoy a comfortable lifestyle without the financial strain often found in neighboring countries. This economic benefit, coupled with the rich cultural experiences and warm climate, makes Spain an ideal choice for those looking to relocate.

Considering all these factors, Spain is an excellent option for anyone seeking a balance of affordability and quality of life. Whether you’re planning to move or just exploring possibilities, Spain offers a unique blend of economic advantages and cultural richness that is hard to match. Embrace the Spanish lifestyle and make the most of what this beautiful country has to offer!