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Cost of Living in Spain in 2020

Published: 8 January 2020

Cost of Living in Spain in 2020

When thinking of moving to Spain it's good to have an idea of what it would cost to live and survive in Spain.

The value of the pound

The value of the pound has a huge impact on cost of living. If you have money/pensions coming over from the UK in pounds then it's important to factor this in and keep an eye on the value of the pound against the Euro. Cost of living for these individuals would be affected by currency exchange.

format_quoteA lot will depend on the value of the £, if you can live comfortably in the UK you will be comfortable in Spain. At the moment I would say eating out, drinks, council tax (although you may have a community charge) road fund licence are cheaper, groceries similar to UK though the markets are cheap when food is in season, Electric standing charges are higher than the UK though the electricity itself is similar price, water similar price, secondhand cars more expensive not sure about new. Furniture and domestic appliances are more expensive though houses are commonly sold fully furnished with everything included. A lot of people use apps like dual lingo or YouTube to learn Spanish, most town halls will also provide Spanish classes starting in the Autumn U3A have plenty of clubs and activities, if you enjoy walking then there are several clubs in the area. However you can enjoy on average 300 days of sunshine living here and a quality of life that surpasses the UK.format_quote 

- Jan06 on the Costa Blanca Forum

Your age

Cost of living in a foreign country will often depend on your age, especially from the point of view of healthcare and insurance. If you are retired then think about the level of pension coming in and whether you can live off of that. If you are of working age then you will need to think about finding work in Spain.

Utilities

Just like in the UK, the cost of your utilities is very important to calculate to make sure you know how much you will be spending a month. Here is a rough guide from one of our members:

format_quoteElectric bill - 100

Water bill - 50

Food - 200

Petrol - 70

Health insurance - 100

IBI tax - 50

Car insurance & tax - 30

Mobile phone and internet 50

Home insurance 20.format_quote 

- Bhamoggy on the Costa Calida Forum

Residency rules for the area you are moving to

Some areas in Spain require people of a certain age to meet a certain level of income, or have funds above a certain level in their bank account, to be able to become a resident of Spain. It is always worth researching your area and contacting the relevant authorities to check whether any rules are in place as this can have an impact of your cost of living.