February 26, 2024

Spain tops list as the cheapest country to live in

Spain has a fantastic climate all year round, good food, nice people, exciting culture and beautiful nature. It is a popular destination for tourists, but also stands out as a cheap country to live in. In “The Cost of Living Overseas Index”, compiled by the website Property Guides, Spain is the clear winner of 13 countries in terms of low cost of living.

There are many reasons to move to Spain and one of them is actually to reduce your expenses while increasing your quality of life. This is shown by "The Cost of Living Overseas Index", which has compared living costs in Great Britain, Spain, France, Italy, Portugal, Cyprus, Greece, Ireland, Germany, USA, Canada, Australia and New Zealand. The price comparison was made in December 2023 and aims to show costs associated with living in a country, not just visiting it as a tourist.

The study includes, for example, costs for everyday goods such as milk, bread and some typical British favorites such as tea bags and gin, products such as paracetamol and detergent, costs for home and decoration such as paint, IKEA bookshelves and electricity, expenses for cleaning, rental car and petrol. Further on pleasures such as Netflix subscriptions and cinema tickets.

Spain is the country together with Italy that has the lowest electricity costs. And when it comes to food such as bread, butter, milk, apples, dog food, chocolate and detergent, Spain is cheaper than all other countries in the comparison. A basket of 17 selected items analysed, cost around €60 (£52.23) in Spain, while the same basket in the UK was almost 53 per cent more expensive.

A total of 55 different products were compared in six different categories (home, food, healthcare, travel, leisure and other) which in the UK cost around €2,332 (£1,996). The same products cost around €820 (£701) less in Spain. Italy and Portugal ended up in second and third place on the list.

Read the full study here https://www.propertyguides.com/cost-of-living/