Those who think that Spain is a very expensive country can not be more wrong. The cost of living in our country is one of the most competitive in the world.
Before considering a change of air, to another city or another country, it is advisable to take into account the price to be paid. Filling the shopping basket, buying a transport allowance, eating at restaurants or paying the rental income are some of the expenses to keep in mind.
Periodically, the Cost of Living Study of Numbeo is carried out. A classification that measures the ‘welfare state’ in different countries and cities of the world. It is the most complete database in the world, based on data provided by users.
Spain, which practically closes the Top 50, figures below the EU average in most variables. And neither of our cities is among the 250 most expensive in the world.
One more incentive to live in our country!
World cost of living ranking
The ‘Cost of Living Index’ of 2017 places, surprisingly, Bermuda as the most expensive country in the world. An island of the North Atlantic with 65,000 inhabitants.
Apart from this anecdote, Switzerland (2nd), Iceland (3rd), Norway (4th) and Bahamas (5th) occupy the following positions by cost of living ranking. A classification based on an average value of 100, unit of measure for spending living in a reference city like New York.
In that ranking, the top five countries are above the cost of living in New York.
While Spain is in the middle for most variables of daily consumption. Above in the energy cost and well below in the rental of housing.
In general, we find Spain in position number 47 of 121 countries, with a cost of living of 54.98 over 100.
A country with competitive prices
In aggregate data, and without taking into account rental income, the cost of living in Spain is 26.82% lower than that of the United States. Although in this variable we are also below, given that the average Spanish rent is 52.82% lower than the US.
The Spanish city with the highest cost of living is Bilbao, with 64.03 out of 100 (not including rental prices). It surpasses thus others like Barcelona (60,59), Madrid (59,53), Valencia (51,65) or Malaga (49,45).
While taking as reference only rent rent, the most expensive city is Madrid (28.04 out of 100).
In the distribution of expenses of our country, the shopping basket takes 29.8% of the budget. Ahead of the rent with 24%.
Underlying restaurants (15.3%), transport (13%) and basic consumption (7.8%).
In specific housing, Numbeo makes a differentiated calculation for purchase and rent. Establishing income in the urban center from 544.03 € / month to 872.77 € / month, depending on the size of the property. More expensive than the peripheral properties (€ 402.67 to € 634.64).
While the average purchase price for an apartment ranges from € 2,548 / m2 in the city to € 1,572 / m2 in the periphery.
