The cost of living in Spain is way below the EU average.
From luxuries to frivolous purchases, Spain is quite a lot cheaper to live in compared to Ireland, the UK and especially Denmark!
The best things in (Spanish) life are free. The climate, walking from La Zenia to Cabo Roig along the cliffs, viewing the sunrise on the Mediterranean, a stroll through the nature reserve, all free. That said, we think we are getting some value for money on our other purchases too.
The latest data from the EU statistics office Eurostat, the European statistics office is stark. They have compiled a survey explaining just how much better off we are in Spain than most other European countries.
You can read more about the European Cost of Living survey by Eurostat here, but if you are still living in Britain, Ireland, Switzerland or Scandinavia it does not make good reading for you!
Every year, Eurostat compares price levels for consumer goods and services using purchasing power parity to adjust for currency differences. This messes up the average a little, due to countries like Turkey and Romania being so cheap, but we still manage to get a comparable cost of living index for each European country.
It’s no surprise, certainly as there are so many Danes here to verify the fact, but the highest price level among the EU Member States was observed in Denmark. Those poor Danes pay 41% above the EU average.
Spain was well below the EU average, especially when you remove the outliers mention above.
The first thing so many people look at is the price of a beer and cigarettes.
The costs of such vices in Ireland are not far off double the EU average and are three times more expensive than in Turkey. Ireland is the most expensive country in the EU for alcohol and cigarettes, and Spain is one of the cheapest. If you like a drink and a cheeky ciggy in the sun, it appears that Spain is the place to be.
Here, in Spain, booze and fags cost 70% less than in the UK, and 130% less than in Norway.
Excise duties have a role to play, as do Government initiatives to make these other countries healthier. With plans for minimum pricing in Ireland and across Europe, the differential is likely to get even bigger
Energy prices including electricity and gas are 4% above average in Spain, but that is misleading as we simply do not use that much energy for heating like they do in the colder countries.
While we are picking on Ireland though, we might as well say that the emerald isle is the most expensive country in the EU for housing costs. Housing costs in Ireland are 77.7 per cent above the EU average while the equivalent property in Spain is 2% BELOW the EU average.
Countries such as Luxembourg (+70%) and Denmark (+60%) are hardly cheap for property either. It is worth noting that clients who buy a property through us, save up to ten thousand on a new build property in Spain and 5,000 on a resale!!
This is crazy; Typical rent on a three-bed house in Dublin will cost €2,800, or €2,150 for a two-bed apartment. You can rent a property in Spain for as little as 400 euro per month, oh, and it’s sunny here!! Other sectors where the Irish are paying top dollar include:
Restaurants and hotels: 28.9 per cent above the European average, Communications: +40 per cent, Recreation and culture: +14.1 per cent.
It is sobering stuff if you’ll excuse the pun and the fact that Ireland is 86.9% above the EU average for Cigarettes! Many thousands of people are living the dream in Spain already. You can earn UK
/Scandinavian wages while spending the money here in Spain. Many of our clients are now location independent. They live and work in Spain working remotely for their employer who is based in a wet, cold, expensive city thousands of miles away.
I think the workers have got this one right!
Check out Eurostat for all the information and talk to us when the time is right to relocate to Spain!