Cost of Living in Spain (updated 2011)

It's hard to give anything more than a very rough guide, but since this is one of the big questions when somebody is deciding whether to move to Spain, here are our sample costs from our experience here:

• Electricity bills:
  • for five people, our bills are approx 150 euros per month unless we have guests
  • standing charge included in this is approx 20 euros
• Gas bills:
  • for at least five people with a gas hob and 2 boilers only 56 euros every 6months!
  • Gas bottles are around 14 euros each (depending on where you buy it)
• Radio Telephone & fast internet bills with private company: are
• 35 euros per month plus the calls you make.
• 3 cents per minute to the UK, cheaper than the leading company Telefonica, although more expensive to initially have installed was 580 when we arrived now around 200
• Food and Cleaning materials for five people approximately:
  • 600 euros per month.
• A glass of beer or wine at a local bar:
  • is 1.50 euro.
• Tapas:
  • are between one and two euros each.
• Loaf of bread:
  • is between 90cents and 1.50euros depending on type
• Packet of bacon:
  • is 1.99 euros
• Semi-skimmed milk
  • 55c per litre
• Bottle of Spanish lager:
  • is 68 cents
• Litre Bottle of Smirnoff Vodka:
  • is 11 euros, cheaper brands from around 5 to 7 euros
  • Cheap Brands of Vodka 4 euros
• Decent Bottle of wine:
  • 2-3 euros. although less if you buy from the local bodegas
• You can fill an average car full of petrol or Diesel for approximately 30% of the price in the UK although prices have now gone up to almost 1.30 euros per litre so not as big a saving as it used to be.
• Car tax:
  • Average of 100€ but depends on size of car
• Car Insurance:
  • About the same as the UK
• To Join a gym/Teakwondo for a month is 30 euros
  • 50 euros for 3 of us at the local gym with use of pool
• Meal of the day in a restaurant:
  • 7-12 euros
• Suma: council tax between 120 to 400 per year
• No TV licence required

Rental for say an apartment on a long term rental in this are can be between 100 to 150 euros per week but this depends on how close to the coast you want to be - the closer the more expensive.

This is just a small sample of prices the list is obviously endless

Finding out what you can afford is one of the first very important steps to buying a property in Spain.If you require a mortgage you will normally be able to borrow a percentage of between 60 and 80 per cent of the professional-valuation price. Banks are now getting strict as the rate goes up and the risk is bigger due to the market and ecconomy so are double checking figures etc, but try this company for examples of mortgage calculations and also for a quote to give you some idea of the costs involved, You need to add between 10 and 12% to a property price when a mortgage is involved.