This week a hybrid episode! Lots of sounds of Madrid as I wander its squares, shops and markets and stop off in a few cafes and bars. Along the way I talk all about the cost of living in Spain.
Listen to this episode free on the player below or on your favourite podcast app.
I look at renting and buying property, utility bills, groceries, healthcare costs, running a car and salaries. I make numerous comparisons between the costs in a handful of different Spanish cities and also compare the cost of living in Madrid with London and New York. (See below for the stats)
So join me to find out some useful facts and figures as well as immersing yourself in Madrid on a sunny Friday afternoon!
Don't miss the amazing market atmosphere towards the end of the episode. A very immersive and colourful experience!
Cost of living Stats
Cost of Living Comparison Between New York, NY and Madrid
You would need around 4,014.13$ (3,368.17€) in Madrid to maintain the same standard of life that you can have with 8,000.00$ in New York, NY (assuming you rent in both cities). This calculation uses our Cost of Living Plus Rent Index to compare cost of living. This assumes net earnings (after income tax)
Consumer Prices in Madrid are 36.16% lower than in New York, NY (without rent)Consumer Prices Including Rent in Madrid are 49.82% lower than in New York, NYRent Prices in Madrid are 65.54% lower than in New York, NYRestaurant Prices in Madrid are 34.13% lower than in New York, NYGroceries Prices in Madrid are 48.68% lower than in New York, NYLocal Purchasing Power in Madrid is 37.53% lower than in New York, NY
Cost of Living Comparison Between London and Madrid
You would need around 2,861.15£ (3,336.99€) in Madrid to maintain the same standard of life that you can have with 4,700.00£ in London (assuming you rent in both cities). This calculation uses our Cost of Living Plus Rent Index to compare cost of living. This assumes net earnings (after income tax).
Consumer Prices in Madrid are 27.04% lower than in London (without rent)Consumer Prices Including Rent in Madrid are 39.12% lower than in LondonRent Prices in Madrid are 55.01% lower than in LondonRestaurant Prices in Madrid are 28.44% lower than in LondonGroceries Prices in Madrid are 20.48% lower than in LondonLocal Purchasing Power in Madrid is 21.92% lower than in London
Comparing the cost of living across Spanish cities
(Courtesy of https://www.numbeo.com/)
Cost of Living in Madrid
Cost of Living in Barcelona
Cost of Living in Valencia
Cost of Living in Málaga
Cost of Living in Alicante
Cost of Living in Cáceres
Healthcare in Spain
On average in Spain private health insurance costs between 50 and 200 euros per month depending on your age and level of health.
For example with Sanitas - one of Spain´s largest healthcare insurers and a subsidiary of Bupa International - you are looking at 79 to120 euros per month for someone in their early 60s. The lower-end plan includes a co-pay option and the higher-end plan includes dental and no co-pay for the first six procedures.
The largest healthcare insurance companies in Spain are:
Mapfre (In English with details of English-speaking offices)
If you are renting, water, community fees (For apartment building) and IBI (Local government tax) should all be included in your monthly rent.
The average monthly electricity bill in Spain is between 60 and 100 euros. The average monthly water bill is between 40 and 60 euros.
Landline phone and internet typically between 30 and 55 euros per month.
Running a car
Road Tax 50 euros per year (small car) and around 100 euros per year for a large car.
Petrol is around 1.12 per litre, diesel 1.03 per litre.
Anual car service around 175 euros