Table of Contents
- The average cost of living in Spain
- Cost of tuition in Spain
- Cost of accommodation in Spain
- Cost of food in Spain
- Cost of transportation in Spain
- 3 tips to help you save money when living in Spain!
- Key takeaways
Spain is a beautiful country that is filled with historical and cultural heritage. It is located in Southern Europe, and living here can be a truly enriching experience that can equip you with a wide range of skills for personal development. One of the advantages of living in Spain is the affordable cost of living. If you want to learn more, keep reading to learn all you need to know about the cost of living in Spain!
The average cost of living in Spain
Spain is a country that is well known for its significantly lower costs of living, as compared to other countries in Europe. Research shows that the average cost of living in Spain is almost 18.2% cheaper than living in the United Kingdom.
It is estimated that, on average, you can expect to spend EUR 1000 to EUR 1500 per month, including food, drink, rent, and utilities.
However, this number can vary depending on the lifestyle you lead and your city. For example, your average utility costs (including water supply, cooling, heating, electricity, internet connection, and excluding rent) in a city like Barcelona can reach up to EUR 712 per month.
Cost of tuition in Spain
In countries such as Sweden and the United Kingdom, several reputed universities in Spain are also recognized for the quality of education and infrastructure. Some of the most popular public universities in Spain include-
- Universidad Autónoma de Madrid
- Complutense University of Madrid
- The University of Barcelona
The tuition costs in Spain also contribute to an affordable price tag on the cost of living in Spain. The average tuition fees for undergraduate courses can range between EUR 750 to EUR 2500 per year.
The average tuition fees for postgraduate courses in Spain can range between EUR 1000 to EUR 3500 per year.
However, it is important to note that the above costs are for public universities in the country. Private universities in Spain have tuition fees as high as EUR 20,000 per year.
Cost of accommodation in Spain
The amount you spend on rent in Spain will probably be one of the most important expenditures you will have to undertake. Once you have secured employment in the country, purchasing a house can reduce your overall cost of living in Spain.
However, renting is still among the most preferred options for accommodation in Spain. This is primarily because the cost of purchasing a house depends on a wide number of factors, including the property, and the market’s position compared to the rest of Europe.
Here is the average cost of renting a space in Spain across different cities-
|San Sebastian||EUR 870|
Cost of food in Spain
The day-to-day costs of purchasing food in Spain from the local supermarket are very reasonable. You can expect to spend around EUR 150 per month on ingredients and groceries.
The average costs of purchasing food from the grocery stores in Spain are as follows (per item)-
|Milk – 1 Liter||EUR 0.78|
|Bread – 1 Loaf/500 GMS||EUR 0.94|
|1 Dozen Eggs||EUR 1.63|
|Apples – 1 KG||EUR 1.56|
You can choose to dine out at inexpensive restaurants and enjoy local cuisine around Spain. Dining out can range between EUR 10 to EUR 30 per person, depending on your selected outlet.
Cost of transportation in Spain
Finally, Spain’s transportation costs can be minimized by opting to travel by the local transportation systems. For example, you can expect to pay EUR 1.40 for a one-way ticket to the city center on the bus.
As a student, you can also avail of discounts and secure a monthly travel pass for EUR 40 per person.
Gasoline prices contribute to the high cost of living in Spain and can be placed at around EUR 1.49 per liter.
3 tips to help you save money when living in Spain!
Finances are always a key concern when considering living abroad in countries like Spain. To help you work better with your money, here are three tips-
1. Choose your locality wisely
The locality you choose to stay in will significantly contribute to your overall cost of living in Spain. Therefore, ensure you find a locality or accommodation that provides you with access to everything you need. A well-connected accommodation is one of the best ways to significantly reduce the amount of money you spend on acquiring necessities.
If you are a student, several housing options provide a wide range of services and are in the vicinity of a university. Opting for such a locality can be helpful (financially) in the long run.
2. Open a local bank account
Having a local bank account is an extremely convenient way to manage your finances better. If you try conducting transactions with accounts from your home country, chances are you will incur high charges and taxes unnecessarily.
There are several options for expats to open a bank account in Spain. Multiple offers are provided to students shifting to the country.
3. Record your expenditure
Make it a habit to record how much you spend and on what. Monitoring your finances is one of the most powerful ways to discover your spending habits. Over time, you will recognize costs that are not a necessity, allowing you to save better.
- Spain is a country that has several remarkable opportunities for personal, educational, and professional ventures.
- If you are considering making the shift to this country, it is important to understand the average cost of living in Spain.
- Doing your research on accommodation, utilities, transportation, and other such facilities well in advance can help you prepare better.
- Practice our three tips on saving money to help you make the most of your life in a new city overseas!
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Liked this blog? Read next: 7 Best countries to study in Europe | Top universities, fees, & more!
Q1. How many bank accounts can I open in Spain?
Answer – If you are new to Spain, it is recommended that you open one bank account and sustain the same until you are permanently employed. Once employed, you can opt for another bank account (as per your convenience).
Q2. Is Spain a secure country?
Answer – Absolutely! Among the other countries in Europe, Spain continues to be recognized as a safe country for expats.
Q3. Can I avail of student discounts on groceries and clothing?
Answer – Yes! Spain is a very student-friendly country. Therefore, you can opt for student discounts at outlets offering the same.