Spain: The Country with the Lowest Cost of Living in Europe

Amid rising costs across the globe, Spain emerges as a pocket-friendly option for those seeking affordability. Recent findings from Property Guides, a platform assisting individuals in buying property overseas, reveal Spain’s distinction as the most economically feasible choice among 13 European destinations.

Check the full cost of living report of 13 countries by here.

The spectacular bay of Calella de Palafrugell adjoins Llafranc in Catalonia, Spain
The spectacular bay of Calella de Palafrugell adjoins Llafranc in Catalonia, Spain. Photo by The Australian

Also read: Top 10 Hottest Travel Spots in 2024: Discover the Must-Visit Destinations

The Cost of Living Index

Property Guides’ Cost of Living Overseas Index meticulously scrutinized living expenses across various countries, compared to the United Kingdom’s standards. This comprehensive analysis aimed to offer insights into the practicalities of residing, not merely visiting, a particular destination. The report includes the cost of home, groceries, travel and a pint of beer (leisure).

Spain’s Affordability

The report underscores a striking revelation: expenses in Spain substantially undercut those in the UK followed by Italy. For instance, the identical ‘basket of goods’ that totals £1,996 ($2500) in the UK translates to a mere £1,295 ($1621) in Spain, reflecting significant savings. This ‘basket’ encompasses essentials ranging from grocery items like milk and bread to household setup costs, cleaning services, local utilities, and entertainment expenditures.

Food and Pantry Staples

Remarkably, Spain boasts notably lower prices for essential food and pantry items, including bread, butter, milk, apples, dog food, chocolate, and laundry detergent. Such affordability is clearly evident when compared to the UK, where the same basket of supermarket essentials incurs a 53% higher expense. This stark contrast underscores Spain’s allure as a cost-effective living destination.

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