Is it expensive to live in Spain?

Which are the least expensive Spanish cities?

How do they compare with the city you are living in now?

In this article, with the data available from 2023, you will understand everything about the cost of living in Spain: purchasing power, rent, cost of daily items such as groceries and restaurants, comparison of all the sectors’ prices vs other European countries,… We will explain to you why Spain is a very cost-effective place to live vs all the major economies in the world and which Spanish cities are the best to work or relax with a small budget or we will tell you which Spanish cities are the most expensive ones.
You could think this article is long, but don’t hesitate to read the table of contents just below to find direct answers to your questions.
Yes, Spain is one of the cheapest countries in the world, and it is even more interesting if you consider the quality of life and the economic activity!

Enjoy your reading, you just landed on one of our most-read articles!

If you want to compare the cost of living between the United Kingdom and Spain, we wrote a dedicated article on that: The cost of living in Spain vs UK.

1. The Cost of living in Spain is 8% lower than in the rest of Europe!

   Of course, you will tell us that you want to go to Spain for the sun or to the beaches…

   There are plenty of other good reasons as well, but when you look at finding a place to live, we think that the cost of living is a very important criterion!

   We did the work with the help of the Statistics from Eurostat to compare Spain’s cost of life vs any other European country so that you could compare your current lifestyle with the one you could have in Spain.

   Here are the results:

   

   If you compare Spain on this chart in Orange colour with Europe in Blue colour, you will notice that Spain is more expensive in only one area: “Communication” by 12%. All the other sectors are cheaper in Spain than in the rest of Europe!

   Let’s have a look at the data:

    

   Cost of Goods & Services	Europe-19	Spain	Spain vs Europe
   Transport services	106	88	83%
   Restaurants and hotels	103	89	87%
   Alcoholic beverages and tobacco	105	91	87%
   Clothing	101	90	89%
   Consumption price index	106	97	92%
   Food and non-alcoholic beverages	105	97	93%
   Transport equipment	101	96	95%
   Household appliances	102	99	97%
   Footwear	101	100	99%
   Electricity, gas and fuels	108	107	99%
   Consumer electronics	101	100	100%
   Furniture and furnishings	102	102	100%
   Communication	109	123	112%

    

   Source: Eurostat 2020

   If you prefer a chart, here is our interactive chart:

    

   So, next time you visit Spain, enjoy the sun, the beaches, the cultural treasures and of course the quality of life… and for sure, the excellent Mediterranean food and tapas!
   As you can see on this table with the General Index: Spain is on average 8% cheaper than the rest of Europe!

    

2. Spain is cheaper than Europe for 7 products and services…

   Spain is cheap for :

   • Transport services, -17%
   • Restaurants and Hotels, -13%
   • Alcoholic beverages and tobacco, -13%, I guess you all noticed? ,
   • Clothing, -11%
   • Food and non-alcoholic beverages, -7%
   • Transport equipment, -5%,
   • Household appliances, -3%
   • Summer 2022 update: Utilities are much cheaper in Spain than in European countries.

   So keep enjoying the beers and the Tapas.

    

   

   10 reasons for buying a property in Spain

    

3. Spain is more expensive for 1 thing … 🙂

   Communication, +12%

   Check the detailed comparison of electricity prices made by Eurostat.

   The good news: Europe voted laws for cheaper communications within EU!

    

4. Cost of living in Spain vs the World

   Numbeo, is a website comparing the cost of living in many different countries and cities all over the world. According to them, in January 2022, Spain is the 46th most expensive country in the world with an average cost of life of 53.88 (vs 100 for New York). Spain is cheaper than Greece, for instance, and has the same cost of life as Estonia. Not bad if you want to enjoy the sun! If you look at the top 21 countries in the world in terms of GDP, Spain is the 12th country in terms of the cost of living.

   How does Numbeo create its indexes?

   Numbeo takes NYC as a reference: these indices are relative to New York City (NYC). This means that for any city with the same cost of living as New York City, it will have a value of 100. If another city has, for example, a rent index of 120, it means that, on average, in that city, rents are 20% more expensive than in New York City. If a city has a rent index of 70, that means that city rents are on average 30% less expensive than in New York City.

   Let’s dig deeper into the worldwide ranking made by Numbeo on the cost of living (with rent) ranking (fourth column):

   Rank	Country	Cost of Living Index	Rent Index	Cost of Living Plus Rent Index	Groceries Index	Restaurant Price Index	Local Purchasing Power Index
   1	Bermuda	146.04	98.58	123.80	148.66	159.17	81.07
   2	Switzerland	123.35	53.54	90.62	128.13	122.09	118.44
   3	Norway	100.90	34.68	69.86	97.31	105.49	83.11
   4	Iceland	94.86	41.93	70.05	90.22	99.42	77.06
   5	Barbados	92.37	21.99	59.38	87.81	78.18	32.08
   6	Jersey	92.02	65.33	79.51	76.88	94.65	79.14
   7	Israel	88.05	33.94	62.69	76.72	95.31	75.58
   8	Denmark	84.12	33.23	60.26	68.60	98.75	99.45
   9	Bahamas	84.00	35.34	61.19	70.59	89.09	45.07
   10	Singapore	83.98	66.43	75.75	77.08	61.17	91.34
   11	Guernsey	83.59	54.02	69.73	76.76	89.98	71.57
   12	Hong Kong	80.71	74.57	77.83	84.72	58.58	65.74
   13	Luxembourg	80.50	60.09	70.93	74.75	88.79	98.84
   14	Australia	77.75	36.84	58.57	77.44	72.95	104.63
   15	Japan	77.03	25.86	53.04	81.31	45.40	87.11
   16	Ireland	76.05	42.08	60.13	62.10	80.40	82.27
   17	Netherlands	75.66	36.06	57.10	65.49	76.35	87.99
   18	New Zealand	74.52	34.44	55.73	72.04	70.05	83.63
   19	France	74.13	25.33	51.26	73.64	71.84	85.41
   20	South Korea	73.22	20.02	48.28	91.95	42.10	76.85
   21	Finland	73.20	25.95	51.05	65.16	77.65	91.02
   22	Belgium	72.61	25.79	50.67	63.32	78.63	79.72
   23	Sweden	71.74	25.86	50.23	65.78	72.61	98.14
   24	Austria	71.04	27.13	50.46	65.88	66.03	77.25
   25	Canada	70.22	34.33	53.40	70.01	67.86	87.98
   26	United States	70.13	42.07	56.98	70.37	70.07	106.34
   27	United Kingdom	69.65	31.84	51.93	56.58	76.79	88.78
   28	Lebanon	69.62	24.81	48.61	66.83	54.25	35.12
   29	Malta	67.84	29.72	49.97	59.59	72.42	44.18
   30	Macao	66.81	43.00	55.65	67.90	51.32	69.27
   31	Puerto Rico	66.53	18.40	43.97	69.60	55.60	72.78
   32	Italy	66.47	20.55	44.95	57.95	70.58	61.74
   33	Seychelles	65.93	32.35	50.19	61.55	77.01	19.43
   34	Germany	65.58	27.62	47.78	52.31	60.91	103.08
   35	Qatar	62.81	48.20	55.96	54.97	63.01	93.67
   36	Taiwan	62.35	17.69	41.42	76.19	29.42	58.35
   37	Cyprus	59.03	22.36	41.84	49.20	61.15	57.31
   38	United Arab Emirates	58.33	43.28	51.28	46.67	61.53	92.17
   39	Palestine	58.11	11.01	36.03	51.23	44.58	39.84
   40	Maldives	57.66	30.20	44.78	56.60	34.72	28.59
   41	Greece	56.22	12.68	35.81	44.73	52.19	39.73
   42	Cuba	55.00	15.23	36.36	47.93	33.54	1.45
   43	Trinidad And Tobago	54.88	15.97	36.64	53.96	53.74	38.47
   44	Bahrain	54.77	29.22	42.79	44.59	48.94	61.41
   45	Slovenia	53.88	17.90	37.01	47.71	46.74	59.48
   46	Spain	53.88	21.25	38.58	45.69	53.96	70.04
   47	Estonia	53.68	16.37	36.19	42.29	56.43	63.46
   48	Yemen	53.14	6.71	31.38	67.12	24.74	14.41
   49	Uruguay	52.07	13.93	34.19	44.01	49.39	30.07
   50	Suriname	51.78	9.71	32.06	45.92	79.61	13.44
   51	Panama	51.43	21.75	37.51	52.16	43.38	33.09
   52	Belize	51.30	11.64	32.71	48.76	36.60	45.73
   53	Saudi Arabia	50.41	11.67	32.25	42.57	35.50	91.85
   54	Senegal	50.25	22.97	37.46	42.17	46.22	23.45
   55	Jamaica	49.67	15.10	33.46	53.41	35.04	30.25
   56	Oman	49.42	16.77	34.11	46.51	43.24	84.24
   57	Jordan	49.19	9.23	30.46	40.81	41.16	31.34
   58	Cambodia	49.11	15.68	33.44	50.61	22.90	13.32
   59	Croatia	48.94	13.38	32.27	41.98	41.29	47.55
   60	Kuwait	48.68	31.31	40.54	35.63	47.48	78.57
   61	Latvia	48.45	11.77	31.26	38.37	42.10	51.65
   62	Libya	48.35	12.89	31.73	54.03	34.10	33.25
   63	Czech Republic	48.24	18.40	34.25	42.76	36.72	66.47
   64	Portugal	47.94	20.73	35.19	39.01	40.26	46.80
   65	Ethiopia	47.49	16.88	33.14	36.68	18.03	10.15
   66	Ivory Coast	47.03	17.68	33.27	40.22	31.99	6.92
   67	Costa Rica	47.01	14.70	31.87	45.54	41.69	39.88
   68	Zimbabwe	45.68	8.75	28.37	39.88	38.13	19.07
   69	Lithuania	45.65	15.01	31.29	36.18	46.64	58.74
   70	Slovakia	44.68	16.11	31.29	39.74	36.08	54.70
   71	El Salvador	44.37	13.19	29.75	44.32	35.47	21.17
   72	Mauritius	44.08	10.95	28.55	45.61	33.44	29.62
   73	Chile	43.90	13.51	29.66	38.87	43.26	33.27
   74	Guatemala	43.49	15.60	30.42	41.92	32.59	26.35
   75	Thailand	43.21	14.69	29.84	45.15	22.59	31.56
   76	Venezuela	43.20	9.99	27.63	37.34	46.23	15.41
   77	Fiji	43.16	17.76	31.26	48.06	37.42	35.87
   78	South Africa	42.09	16.60	30.14	34.78	41.33	78.36
   79	Dominican Republic	41.77	9.59	26.68	38.45	34.30	21.07
   80	China	41.77	16.53	29.93	46.01	28.37	59.99
   81	Hungary	40.66	11.91	27.18	35.19	32.82	51.98
   82	Honduras	40.46	10.28	26.31	34.73	28.67	32.09
   83	Botswana	40.17	10.21	26.12	35.16	42.50	62.63
   84	Nicaragua	39.64	8.68	25.13	38.13	27.51	17.63
   85	Cameroon	39.48	6.91	24.22	40.41	26.33	15.37
   86	Poland	38.95	14.45	27.46	32.42	33.52	59.95
   87	Montenegro	38.95	12.87	26.72	31.76	33.22	34.19
   88	Bulgaria	38.38	9.07	24.64	34.02	32.44	45.96
   89	Vietnam	37.48	13.22	26.11	38.70	19.98	29.38
   90	Iran	37.39	17.05	27.85	29.46	25.18	17.98
   91	Ecuador	37.34	11.28	25.12	34.49	28.55	31.76
   92	Philippines	37.06	9.59	24.18	37.84	20.61	21.47
   93	Malaysia	37.02	9.87	24.29	39.45	20.84	55.30
   94	Serbia	36.21	8.73	23.33	28.18	29.24	37.83
   95	Ghana	36.20	19.31	28.28	37.53	30.06	16.82
   96	Bosnia And Herzegovina	36.12	6.82	22.39	31.14	25.34	44.10
   97	Indonesia	35.85	9.82	23.65	38.29	17.74	21.07
   98	Myanmar	35.67	21.18	28.87	37.63	20.00	13.84
   99	Albania	35.50	8.47	22.83	29.32	25.82	30.19
   100	Mexico	35.35	12.55	24.66	34.82	32.67	38.62
   101	Russia	35.26	13.09	24.87	29.86	34.56	37.41
   102	Romania	35.24	10.17	23.49	31.38	30.02	48.12
   103	Bolivia	34.77	10.18	23.24	31.26	24.97	36.04
   104	Mongolia	34.74	11.22	23.72	36.14	22.80	24.34
   105	Argentina	34.69	7.71	22.04	28.17	33.32	30.72
   106	Somalia	34.58	5.16	20.79	39.39	26.65	29.40
   107	Iraq	34.47	10.63	23.29	30.46	28.31	40.92
   108	Kenya	33.92	8.73	22.11	31.27	28.82	32.18
   109	Armenia	33.89	11.61	23.45	27.59	30.55	28.86
   110	Morocco	33.83	8.98	22.18	30.63	24.52	34.36
   111	Uganda	33.50	9.19	22.10	31.00	24.85	11.41
   112	Brazil	33.24	8.27	21.54	28.16	25.24	27.85
   113	Bangladesh	33.13	4.42	19.67	30.41	21.70	25.30
   114	Zambia	33.04	9.26	21.90	31.53	22.46	40.33
   115	Tanzania	32.81	12.36	23.23	30.04	24.86	15.97
   116	Peru	32.53	11.22	22.54	30.71	21.53	28.17
   117	Rwanda	31.62	15.90	24.25	27.71	27.99	26.82
   118	North Macedonia	31.38	6.06	19.51	26.95	21.02	35.44
   119	Sri Lanka	31.29	8.23	20.48	37.67	17.27	19.27
   120	Belarus	30.89	9.81	21.01	27.24	31.64	31.78
   121	Ukraine	30.71	10.57	21.27	26.30	25.75	37.22
   122	Nigeria	30.49	35.99	33.07	33.65	20.92	9.34
   123	Moldova	30.35	8.70	20.20	24.96	27.10	33.43
   124	Paraguay	30.20	10.04	20.75	25.45	24.19	26.08
   125	Georgia	30.18	9.26	20.37	26.44	27.88	31.15
   126	Azerbaijan	29.73	7.86	19.48	26.57	26.73	27.26
   127	Egypt	29.52	5.82	18.41	27.42	23.42	21.54
   128	Syria	28.75	5.17	17.70	29.34	22.81	6.59
   129	Kazakhstan	28.68	9.44	19.66	25.35	27.24	32.23
   130	Turkey	28.31	6.63	18.15	22.64	18.40	32.88
   131	Nepal	28.29	3.96	16.89	26.45	20.41	22.96
   132	Tunisia	27.87	5.32	17.30	27.36	15.96	27.83
   133	Uzbekistan	27.31	9.29	18.86	26.83	24.22	22.37
   134	Kosovo (Disputed Territory)	27.05	8.04	18.14	24.84	19.53	43.86
   135	Algeria	26.87	4.59	16.43	28.82	14.48	24.63
   136	Colombia	26.72	8.18	18.03	23.47	19.44	28.85
   137	India	24.43	5.30	15.47	26.43	17.56	49.72

   Now that we saw that the cost of living in Spain vs the rest of the world is ranking well, it is time to check which Spanish cities are expensive or cheap. So at least you will know it before moving there.

    

5. Cost of living in Spanish cities

    

   Here is the January 2022 ranking of all the main Spanish cities vs their cost of living according to Numbeo:

   Rank	City	Cost of Living Index	Rent Index	Cost of Living Plus Rent Index	Groceries Index	Restaurant Price Index	Local Purchasing Power Index
   1	Bilbao	63.62	26.53	46.06	56.67	63.19	66.70
   2	Barcelona	60.70	30.79	46.54	48.52	62.42	70.07
   3	Madrid	59.19	31.10	45.89	48.87	62.32	75.06
   4	Palma de Mallorca	58.30	27.34	43.65	47.79	59.64	63.61
   5	Zaragoza (Saragossa)	54.60	18.24	37.39	47.85	54.95	69.42
   6	Seville (Sevilla)	53.47	20.55	37.89	48.76	48.90	71.73
   7	Vigo	52.85	17.16	35.95	42.75	54.95	75.98
   8	Valencia	52.65	21.84	38.06	44.43	55.27	70.33
   9	Las Palmas de Gran Canaria	52.00	22.08	37.84	48.07	48.92	55.22
   10	Granada	51.75	15.65	34.66	43.71	46.84	87.46
   11	Malaga	51.65	25.51	39.28	43.07	51.32	67.07
   12	Murcia	51.32	15.65	34.44	43.30	51.62	77.45
   13	Alicante	51.21	19.85	36.37	42.39	52.07	80.29
   14	Santa Cruz de Tenerife	50.65	19.13	35.73	42.17	53.40	64.54

   Source: Numbeo.com : January 2022

   Those numbers rely on members updating data, so they should be taken with a grain of salt.

   If you want to compare the evolution over the last year, here was the ranking made last year:

   Rank	City	Cost of Living Index	Rent Index	Cost of Living Plus Rent Index	Groceries Index	Restaurant Price Index	Local Purchasing Power Index
   1	Bilbao	64.85	26.11	45.98	55.47	60.44	68.06
   2	Barcelona	61.71	30.52	46.52	49.28	60.72	60.44
   3	Madrid	61.15	33.16	47.52	48.88	61.55	67.17
   4	Zaragoza – Saragossa	60.20	18.06	39.68	51.93	54.82	68.68
   5	Palma de Mallorca	58.66	27.64	43.56	46.22	62.75	56.87
   6	Granada	57.09	17.10	37.61	45.38	48.84	61.84
   7	Alicante	53.56	17.70	36.10	42.54	53.44	79.61
   8	Valencia	53.44	21.92	38.09	42.83	50.94	73.81
   9	Santa Cruz de Tenerife	53.37	18.31	36.30	44.14	52.01	60.48
   10	Seville – Sevilla	52.97	20.06	36.95	46.42	43.62	68.59
   11	Malaga	52.89	22.85	38.26	42.32	50.59	69.48
   12	Las Palmas de Gran Canaria	50.52	22.00	36.63	43.40	49.89	60.29

    

   Source: Numbeo.com : June 2020

   Click on any of those cities hyperlink to find the latest number of any of those cities.

    

   

   The impacts of the Coronavirus on the Spanish Real Estate

   How should you understand those numbers?

   These indices are relative to New York City (NYC). This means that for New York City, each index should be 100(%). If another city has, for example, rent index of 120, it means that on average in that city rents are 20% more expensive than in New York City. If a city has a rent index of 70, that means that city rents are 30% less expensive for that city than for New York City. Numbeo calculates different indicators:

   • Cost of Living Index (Excl. Rent) is a relative indicator of consumer goods prices, including groceries, restaurants, transportation and utilities. The cost of Living Index doesn’t include accommodation expenses such as rent or mortgage. If a city has a Cost of Living Index of 120, it means Numbeo estimates it is 20% more expensive than New York (excluding rent).
   • Rent Index is an estimation of the prices of renting apartments in the city compared to New York City.
   • Groceries Index is an estimation of grocery prices in the city compared to New York City.
   • Restaurants Index is a comparison of prices of meals and drinks in restaurants and bars compared to NYC.
   • Cost of Living Plus Rent Index is an estimation of consumer goods prices including rent compared to New York City.
   • Local Purchasing Power shows relative purchasing power in buying goods and services in a given city for the average wage in that city. If domestic purchasing power is 40, this means that the inhabitants of that city with the average salary can afford to buy on an average 60% fewer goods and services than New York City residents with an average salary.

   For more information about used weights (actual formula) please visit Numbeo Motivation and Methodology.

   To discover real current pricing for any city, of course, always good to double-check later, click on any city on our table to discover the details published by Numbeo:

    

   Here is an example of the current pricing of cost of living for Barcelona calculated by Numbeo as of January 2022

   Data collected over the last year

   Restaurants		Range
   Meal, Inexpensive Restaurant	12.00 €	9.00–20.00
   Meal for 2 People, Mid-range Restaurant, Three-course	50.00 €	33.50–80.00
   McMeal at McDonalds (or Equivalent Combo Meal)	8.50 €	8.00–10.00
   Domestic Beer (0.5 liter draught)	3.00 €	2.00–4.00
   Imported Beer (0.33 liter bottle)	3.50 €	2.50–5.00
   Cappuccino (regular)	1.97 €	1.30–3.00
   Coke/Pepsi (0.33 liter bottle)	1.98 €	1.25–3.00
   Water (0.33 liter bottle)	1.24 €	1.00–2.00
   Markets
   Milk (regular), (1 liter)	0.88 €	0.60–1.20
   Loaf of Fresh White Bread (500g)	1.20 €	0.55–2.50
   Rice (white), (1kg)	1.09 €	0.75–1.99
   Eggs (regular) (12)	2.16 €	1.20–3.20
   Local Cheese (1kg)	9.98 €	3.50–20.00
   Chicken Fillets (1kg)	6.19 €	2.99–8.00
   Beef Round (1kg) (or Equivalent Back Leg Red Meat)	12.06 €	7.00–17.00
   Apples (1kg)	1.71 €	0.99–3.00
   Banana (1kg)	1.66 €	1.00–3.00
   Oranges (1kg)	1.71 €	1.00–4.00
   Tomato (1kg)	1.85 €	1.00–2.99
   Potato (1kg)	1.26 €	0.70–2.13
   Onion (1kg)	1.23 €	0.70–2.00
   Lettuce (1 head)	1.00 €	0.80–1.50
   Water (1.5 liter bottle)	0.71 €	0.50–1.50
   Bottle of Wine (Mid-Range)	5.00 €	3.00–8.00
   Domestic Beer (0.5 liter bottle)	1.06 €	0.65–1.90
   Imported Beer (0.33 liter bottle)	1.80 €	1.00–3.00
   Cigarettes 20 Pack (Marlboro)	5.00 €	5.00–6.00
   Transportation
   One-way Ticket (Local Transport)	2.38 €	1.30–2.50
   Monthly Pass (Regular Price)	40.00 €	40.00–54.00
   Taxi Start (Normal Tariff)	3.00 €	2.25–5.00
   Taxi 1km (Normal Tariff)	1.20 €	0.93–3.00
   Taxi 1hour Waiting (Normal Tariff)	22.10 €	19.80–45.00
   Gasoline (1 liter)	1.39 €	1.00–1.58
   Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car)	22,000.00 €	20,000.00–26,000.00
   Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car)	24,137.00 €	21,500.00–26,000.00
   Utilities (Monthly)
   Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment	152.66 €	102.00–300.00
   1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans)	0.16 €	0.09–0.19
   Internet (60 Mbps or More, Unlimited Data, Cable/ADSL)	39.11 €	30.00–60.00
   Sports And Leisure
   Fitness Club, Monthly Fee for 1 Adult	43.20 €	30.00–60.00
   Tennis Court Rent (1 Hour on Weekend)	24.59 €	18.00–30.00
   Cinema, International Release, 1 Seat	9.00 €	8.00–12.00
   Childcare
   Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child	482.11 €	400.00–600.00
   International Primary School, Yearly for 1 Child	10,460.00 €	7,000.00–20,000.00
   Clothing And Shoes
   1 Pair of Jeans (Levis 501 Or Similar)	71.45 €	30.00–109.00
   1 Summer Dress in a Chain Store (Zara, H&M, …)	31.70 €	19.00–70.00
   1 Pair of Nike Running Shoes (Mid-Range)	71.59 €	45.00–110.00
   1 Pair of Men Leather Business Shoes	96.05 €	59.00–150.00
   Rent Per Month
   Apartment (1 bedroom) in City Centre	913.24 €	750.00–1,150.00
   Apartment (1 bedroom) Outside of Centre	714.06 €	600.00–850.00
   Apartment (3 bedrooms) in City Centre	1,537.84 €	1,300.00–2,000.00
   Apartment (3 bedrooms) Outside of Centre	1,109.38 €	1,000.00–1,300.00
   Buy Apartment Price
   Price per Square Meter to Buy Apartment in City Centre	4,796.96 €	3,500.00–6,286.00
   Price per Square Meter to Buy Apartment Outside of Centre	3,045.59 €	2,300.00–4,000.00
   Salaries And Financing
   Average Monthly Net Salary (After Tax)	1,703.29 €
   Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate	1.84	1.50–3.00

   This city had 1947 entries in the past 12 months by 249 different contributors.
   Last update: February 2022

    

6. The 3 most expensive Spanish cities

   Bilbao, Barcelona and Madrid are in the top 3.

   1. Bilbao
      • Our article on Bilbao: Bilbao, the new awakening of the city
      • Check the monthly weather statistics for Bilbao
      • Check some of our experts in our local network in Bilbao: Real estate Lawyers in Bilbao, Property hunters in Bilbao, Architects in Bilbao, How to find a mortgage in Bilbao all assisting you in your language
   2. Barcelona
      • Our article on Bilbao: Bilbao, the new awakening of the city
      • Check the monthly weather statistics for Bilbao
      • Check some of our experts in our local network in Bilbao: Real estate Lawyers in Bilbao, Property hunters in Bilbao, Architects in Bilbao, How to find a mortgage in Bilbao all assisting you in your language
   3. Madrid
      • Our articles on Madrid: Real estate foreign investors are discovering Madrid, Madrid on the top 3 list of European Cities to invest in
      • Check the monthly weather statistics for Madrid
      • Check our Citytrip ePostcards on Madrid

   Here is the cost of living ranking of all the major Spanish cities if you want to get more than the top 3.

7. The 3 cheapest Spanish cities

   The 3 cheapest Spanish cities are: Las Palmas de Gran Canaria, Malaga and Sevilla.

   1. Las Palmas de Gran Canaria
      • Our article on Las Palmas de Gran Canaria: Gran Canaria, the tropical gem of Spain
      • Our article on the Canary Islands: Everything you ever wanted to know about the Canary Islands
      • Check the monthly weather statistics for Las Palmas de Gran Canaria
   2. Malaga
      • Our articles on Málaga: Malaga: an emerging city to buy second homes, Malaga is always a place for your dream house
      • Our article on the Costa del Sol: Everything you ever wanted to know about the Costa del Sol.
      • Check the monthly weather statistics for Málaga
      • Check our Citytrip ePostcards on Málaga
      • Discover the best new build projects in Andalusia available right now
        New build for sale in Spain € 540,000

        3 beds 3 baths 191 m²

        New build for sale in Spain € 520,000

        3 beds 2 baths 109 m²

        New build for sale in Spain € 345,000

        2 beds 2 baths 97 m²

        New build for sale in Spain € 435,000

        3 beds 2 baths 114 m²

        New build for sale in Spain € 350,000

        3 beds 2 baths 106 m²

        New build for sale in Spain € 273,000

        2 beds 2 baths 83 m²

        New build for sale in Spain € 368,000

        3 beds 2 baths 103 m²

        New build for sale in Spain € 315,000

        2 beds 2 baths 90 m²

        New build for sale in Spain € 245,000

        2 beds 2 baths 83 m²

        New build for sale in Spain € 335,000

        3 beds 2 baths 98 m²

        New build for sale in Spain € 250,000

        2 beds 2 baths 90 m²

        New build for sale in Spain € 420,000

        2 beds 2 baths 81.7 m²

        New build for sale in Spain € 475,000

        3 beds 2 baths 101.9 m²

        New build for sale in Spain € 490,000

        3 beds 2 baths 119.8 m²

        New build for sale in Spain € 540,000

        3 beds 2 baths 129.2 m²

        New build for sale in Spain € 530,000

        3 beds 2 baths 106.9 m²

        New build for sale in Spain € 370,000

        2 beds 2 baths 88.9 m²

        New build for sale in Spain € 440,000

        3 beds 2 baths 106.9 m²

        New build for sale in Spain € 585,000

        3 beds 3 baths 162 m²

        New build for sale in Spain € 348,000

        3 beds 2 baths 220 m²

        New build for sale in Spain € 631,000

        3 beds 2 baths 123 m²

        New build for sale in Spain € 345,000

        2 beds 2 baths 154 m²

        New build for sale in Spain € 430,000

        3 beds 2 baths 116 m²

        New build for sale in Spain € 730,000

        3 beds 2 baths 149 m²

        New build for sale in Spain € 529,000

        3 beds 2 baths 133 m²

        New build for sale in Spain € 319,000

        2 beds 2 baths 87 m²
   3. Seville
      • Our article on Sevilla: Discover the charm of the south and invest in Seville
      • Check our infographic on the Costa de la Luz with all the activities there.
      • Check the monthly weather statistics for Seville
      • Check some of our experts in our local network in Seville: Real estate Lawyers in Seville, Property hunters in Seville, Architects in Seville, How to find a mortgage in Seville all assisting you in your language
      • Find your local experts in Seville within our network, it’s free!

   Here is the cost of living to rank of all the major Spanish cities if you want to get more than the top 3.

8. The most expensive cities in Spain for real estate are

   End September 2021, Sorted by price, second column

   City / Region	Price	Yr Price Evolution	Qtr Price Evolution	Number of Transactions	Transaction Evolution
   Gipuzkoa	2 736 €	3,0%	-0,6%	7 171	15%
   Madrid (Comunidad de)	2 685 €	2,9%	0,9%	83 173	25%
   Balears (Illes)	2 496 €	4,8%	2,1%	14 322	15%
   País Vasco	2 421 €	3,3%	-0,4%	22 366	18%
   Barcelona	2 396 €	1,3%	-0,4%	60 555	19%
   Bizkaia	2 364 €	3,9%	0,0%	12 036	17%
   Cataluña	2 038 €	1,9%	-0,2%	93 862	24%
   Araba/Alava	1 975 €	2,8%	-1,7%	3 159	25%
   Málaga	1 924 €	7,6%	3,9%	32 109	25%
   Ceuta	1 798 €	-0,5%	0,1%	711	34%
   Ceuta y Melilla	1 738 €	0,1%	0,3%	1 464	47%
   Melilla	1 699 €	0,9%	0,6%	753	63%
   TOTAL NACIONAL	1 662 €	2,6%	0,8%	611 093	28%

   with the National Spanish Average: 1,662 €/m²
   Read more and get the last updated prices on the Spanish property market.

9. The cheapest cities in Spain for real estate are

   End September 2021, Sorted by price, second column

   City / Region	Price	Yr Price Evolution	Qtr Price Evolution	Number of Transactions	Transaction Evolution
   Ciudad Real	712 €	-1,0%	0,1%	5 446	43%
   Teruel	752 €	2,2%	-0,8%	1 733	30%
   Cuenca	766 €	-1,1%	-2,6%	2 346	48%
   Jaén	786 €	1,6%	1,1%	6 400	31%
   Zamora	792 €	-3,9%	-1,4%	1 871	54%
   Cáceres	837 €	-0,3%	1,7%	3 823	25%
   Ávila	844 €	4,5%	3,3%	2 516	35%
   Extremadura	857 €	1,4%	1,5%	10 666	37%
   León	860 €	-0,9%	2,7%	4 657	33%
   Toledo	868 €	3,5%	2,0%	10 775	39%
   Badajoz	871 €	2,7%	1,3%	6 843	45%
   Lugo	881 €	3,1%	0,5%	3 601	57%
   Castilla-La Mancha	887 €	1,3%	0,5%	27 431	40%
   Ourense	891 €	-2,7%	-0,1%	2 451	42%
   Albacete	904 €	0,2%	-1,8%	3 919	39%
   Soria	914 €	-2,3%	3,7%	1 311	53%
   Palencia	930 €	-1,4%	2,9%	1 956	48%
   Segovia	985 €	-0,1%	2,3%	2 418	52%
   Murcia (Región de)	986 €	2,9%	-1,4%	22 074	32%
   Lleida	995 €	0,8%	-3,2%	5 661	45%

   with the National Spanish Average: 1.662 €/m²
   Read more on and get the last updated prices on the Spanish property market.

10. Spanish cities with the highest rents

    Rent Index is an estimation of prices for renting apartments in the city compared to New York City. If Rent index is 80, Numbeo estimates that the price of rents in that city is on an average 20% less than the price in New York.

    1. Madrid is in the most expensive cities in Spain for rent with a rent index of 31.1.
    2. Barcelona is in the most expensive cities in Spain for rent with a rent index of 30.8.
    3. Palma de Mallorca is in the most expensive cities in Spain for rent with a rent index of 27.3.

     

    Have a look at our chart comparing the different rental levels in Spain.

     

     

11. Spanish cities with the lowest rents

    Rent Index is an estimation of prices for renting apartments in the city compared to New York City. If Rent index is 80, Numbeo estimates that the price of rents in that city is on an average 20% less than the price in New York.

    1. Santa Cruz de Tenerife is in the cheapest cities in Spain for rent with a rent index of 19.13
    2. Zaragoza (Saragossa) is in the cheapest cities in Spain for rent with a rent index of 18.24
    3. Vigo is in the cheapest cities in Spain for rent with a rent index of 17.16
    4. Granada is in the cheapest cities in Spain for rent with a rent index of 15.65
    5. Murcia is in the cheapest cities in Spain for rent with a rent index of 15.65

     

    Have a look at our chart comparing the different rental levels in Spain.

     

     

12. Spanish cities with the least expensive restaurants?

     

    1. Las Palmas de Gran Canaria is in the cheapest cities in Spain for restaurants with an index of 48.92
    2. Seville (Sevilla) is in the cheapest cities in Spain for restaurants with an index of 48.9
    3. Granada is in the cheapest cities in Spain for restaurants with an index of 46.84

     

    Have a look at our chart comparing the different restaurants pricing levels for many cities in Spain.

     

     

13. Spanish cities with the most expensive restaurants?

     

    1. Bilbao is in the most expensive cities in Spain for restaurants with an index of 63.19
    2. Barcelona is in the most expensive cities in Spain for restaurants with an index of 62.42
    3. Madrid is in the most expensive cities in Spain for restaurants with an index of 62.32

     

    Have a look at our chart comparing the different restaurants pricing levels for many cities in Spain.

     

     

14. Cheapest Spanish cities for groceries?

    Groceries Index is an estimation of grocery prices in the city compared to New York City. To calculate this section, Numbeo uses weights of items in the “Markets” section for each city.

    1. Valencia is in the cheapest cities in Spain for buying groceries with a Groceries index of 44.43
    2. Granada is in the cheapest cities in Spain for buying groceries with a Groceries index of 43.71
    3. Murcia is in the cheapest cities in Spain for buying groceries with a Groceries index of 43.3
    4. Malaga is in the cheapest cities in Spain for buying groceries with a Groceries index of 43.07
    5. Vigo is in the cheapest cities in Spain for buying groceries with a Groceries index of 42.75
    6. Alicante is in the cheapest cities in Spain for buying groceries with a Groceries index of 42.39
    7. Santa Cruz de Tenerife is in the cheapest cities in Spain for buying groceries with a Groceries index of 42.17

     

    Have a look at our chart comparing the different Groceries indexes for many cities in Spain.

     

     

15. Most expensive Spanish cities for groceries?

    Groceries Index is an estimation of grocery prices in the city compared to New York City. To calculate this section, Numbeo uses weights of items in the “Markets” section for each city.

    1. Bilbao is in the most expensive cities in Spain for buying groceries with a Groceries index of 56.67
    2. Madrid is in the most expensive cities in Spain for buying groceries with a Groceries index of 48.87
    3. Seville (Sevilla) is in the most expensive cities in Spain for buying groceries with a Groceries index of 48.76

     

    Have a look at our chart comparing the different Groceries indexes for many cities in Spain.

     

     

16. Spanish cities with the best purchasing power?

    Local Purchasing Power is an indicator calculated by Numbeo that shows relative purchasing power in buying goods and services in a given city for the average wage in that city. If domestic purchasing power is 40, this means that the inhabitants of that city with the average salary can afford to buy on an average 60% fewer goods and services than New York City residents with an average salary.

    1. Granada is in the Spanish cities with the biggest purchasing power and has a Purchasing power index of 87.46
    2. Alicante is in the Spanish cities with the biggest purchasing power and has a Purchasing power index of 80.29
    3. Murcia is in the Spanish cities with the biggest purchasing power and has a Purchasing power index of 77.45
    4. Vigo is in the Spanish cities with the biggest purchasing power and has a Purchasing power index of 75.98
    5. Madrid is in the Spanish cities with the biggest purchasing power and has a Purchasing power index of 75.06

     

    Have a look at our chart comparing the different purchasing power for many cities in Spain.

     

     

     

    

     

17. Spanish cities with the smallest purchasing power?

    Local Purchasing Power is an indicator calculated by Numbeo and it shows relative purchasing power in buying goods and services in a given city for the average wage in that city. If domestic purchasing power is 40, this means that the inhabitants of that city with the average salary can afford to buy on an average 60% fewer goods and services than New York City residents with an average salary.

    1. Santa Cruz de Tenerife is in the Spanish cities with the smallest purchasing power and has a Purchasing power index of 64.54
    2. Palma de Mallorca is in the Spanish cities with the smallest purchasing power and has a Purchasing power index of 63.61
    3. Las Palmas de Gran Canaria is in the Spanish cities with the smallest purchasing power and has a Purchasing power index of 55.22

     

    Have a look at our chart comparing the different purchasing power for many cities in Spain.

     

     

     

18. Why should you relocate to Spain?

    If you take the last column of the table of Numbeo, you earn on average 69 to 85% of what you would earn if you lived in New York but at the same time, the cost of life plus rent index (third data column) is between 33 to 47%. So, that’s one of the main reasons why Spain is one of the best countries in the world for relocating & for working remotely?

    Discover all our detailed reviews of the beautiful Spanish Costas.

    

    Find all our best Spanish Costas infographics: Costa Brava, Costa del Sol, Costa Blanca, Costa Barcelona, Balearic Islands, Canary Islands,…

    Of course, that’s why Spain is as well such a nice place to retire or enjoy holidays

    If in addition to that, you take into account that Spain is the healthiest country in the world to live in as we wrote in our last article and Spain has so many experiences to enjoy, that’s why it is the number one holiday destination in Europe.

     

    

    Why should you relocate to Spain?

     

19. Compare the cost of living of two cities in the world

    And you will see quickly how much you will save, even if you are there on holiday. That’s one of the best-kept secrets of Spain.

     

    Have a look at our chart comparing the different purchasing power of the biggest cities in the world with many Spanish cities.

     

     

    Compare two cities with Numbeo, here we took Valencia and Malaga

    Check the city comparator of Flying Yack

     

    If you want to find out quickly which is the cheapest city in any region in the world, don’t forget to check the colour maps of Numbeo.

     

20. How do we help you?

    As you may have read on our homepage howtobuyinspain.com, Buying a property in Spain is cheap and looks easy, but there are some pitfalls. That is why we have built over the years a network of 100+ local partners dedicated to assisting you: Lawyers, Mortgage brokers (financing and refinancing at lower rates), Insurance brokers, Tax advisors, Surveyors, Property hunters, Renovation, NIE specialists… So don’t miss our homepage howtobuyinspain.com, it is where you should continue for your property search in Spain.

     

    Further reading: 10 reasons why you should buy a property in Spain.

     

21. Don’t miss our downloadable charts

FAQ Why is it so cheap to live in Spain?

Looking for an expert in Spain? Ask us directly!

Stéphane

Senior analyst and strategist at HTBIS

Check the full HTBIS team here

The post How much does it cost to live in Spain? appeared first on How to buy in Spain.

Fundraising in Spain: A Market Overview, Financing Options, and Tips to Succeed

Spain has become an attractive destination for startups and SMEs looking to raise funds. The country’s entrepreneurial ecosystem has been growing rapidly in recent years, with a thriving startup scene and increasing interest from foreign investors. However, raising funds in Spain can be challenging, especially for foreign entrepreneurs who are not familiar with the market. In this article, we will provide an overview of the PE/VC fundraising landscape in Spain, the financing options available, and tips to succeed.

Spain as a Place for Fundraising – market overview

More and more startups come to Spain to fundraise. According to Invest in Spain, more than 2 billion euros were invested in startups in 2021. Some of the key players in the Spanish fundraising market include venture capital firms such as Kibo Ventures, Nauta Capital, and Seaya Ventures. Foreign investors such as SoftBank are interested in this market too. They’ve invested in several Spanish startups recently. 

There are a number of industries which are the most interesting for investing in — real estate, fintech, e-commerce, and biotech are among them. Since the country has a stable economy, attractive property prices, and favourable legal and tax systems, real estate is a good opportunity for investors. Spain’s property market has been on the rise in recent years, with the country’s housing market bouncing back quickly after the 2008 financial crisis. The average price of residential property in Spain increased by stongly since 2014 as we wrote in our Spanish real estate report: Spanish real estate prices rose by +3.3% over the last 12 months: the top 20 markets!

Also, non-residents are only required to pay income tax on rental income earned in Spain and the tax rate is relatively low in comparison to other European countries.

Financing options in Spain

For those who’re looking for investments in Spain, there are several types of financing. There are more than 70 active PE&VC funds investing from early to late-stage. One-third of them invest in real estate businesses. Let’s take a look at 5 notable funds in Spain with their AUMs:

• Seaya Ventures (€268m)
• K Fund (€250.0m)
• Samaipata (€107.0m)
• Nauta Capital (€70.0m)
• Inveready (€45.0m)

Here is the full list of other funds.

There are also a number of Spanish grants, incubators and accelerators. These organizations provide various resources and services, including mentorship, networking opportunities, and access to funding.

One of the most prominent accelerators in Spain is SeedRocket, which has supported over 100 startups in the country. The accelerator offers a four-month program for early-stage startups, providing mentorship, training, and access to investors. Another notable accelerator is Wayra, which is part of the global accelerator network run by Telefónica. Wayra provides funding, workspace, and mentorship to startups in a variety of industries, including fintech, cybersecurity, and artificial intelligence.

In addition to accelerators, there are also several incubators in Spain that support early-stage startups. For example, Demium Startups is a pre-seed incubator that provides funding, mentorship, and resources to help entrepreneurs launch their businesses.

Other incubators in Spain include:

• Conector, which specializes in digital startups,
• Tetuan Valley, which focuses on supporting tech entrepreneurs.

There are also crowdfunding/crowdlending options for startups in Spain. They’re presented by the platforms: October, Housers, Crealsa, Colectual, StockCrowd IN, Inveslar, Arboribus, Growly, Loanbook Capital. You can search for crowdfunding and crowdlending Spanish actors by clicking on the link.

Tips to succeed

You should keep in mind several factors to successfully attract investments in Spain. 

1. Have a solid business plan.

2. Know your goals, strategy and financial plan.

   This will help potential investors understand your vision and assess the potential return on investment

3. Understand the local market.

   Learn who are your competitors, and how communications work: be transparent and excited about your product but also have patience, Spanish investors appreciate it.

4. Build a relationship before asking for investments.

   Learn who are your competitors, and how communications work: be transparent and excited about your product but also have patience, Spanish investors appreciate it.

5. Take advantage of government incentives and grants.

   The Spanish government offers a range of programs and incentives to support startups and small businesses, including tax breaks, grants, and low-interest loans. By taking advantage of these opportunities, you can demonstrate to investors that you are committed to growing your business and have the support of the government.

6. Use smart search of investors.

   With the Private Equity List platform, you can search around 6000 PE&VC funds, 1600 accelerators and incubators and 23000 investor contacts using smart filters: fund country, investment ticket, industry focus and more. Start smart search right now with 50% OFF code given for HTBIS readers for 1 month of the PRO plan: PRO50

 

Don’t miss our other article on the subject: Why not start up in Spain? 

Looking for an expert in Spain? Ask us directly!

Stéphane

Senior analyst and strategist at HTBIS

Check the full HTBIS team here

The post Fundraising in Spain: A Market Overview, Financing Options, and Tips to Succeed appeared first on How to buy in Spain.

Click on any flag to get an automatic translation from Google Translate. Some news could have an original translation here: News Nouvelles Nieuws Noticias Nachrichten

Spain’s tourism is back… to new highs as of April 2023 ☀  😎

In this quick guide, you will find all our resources in order to organise your best holidays in Spain. Of course, it is very helpful as well if you are looking to buy a property in Spain.

Too busy? Here is our quick-read summary:

Here is why tourism is strong in Spain – our 4 minutes video

Would you like to watch this video in your own language? Click at the bottom right of the video on “cc” to get subtitles in your language.

Spain recorded its best April ever in terms of international tourist numbers and spending levels

20% above the pre-pandemic record

Spain had a record year regarding tourism in 2019, nearly 84m tourists visited Spain. Since then… we all know the story.

But, yes make no mistake, April 2023 saw its biggest number of incoming tourists in Spain EVER!

In the first four months, Spain received 21 million arrivals, 32.4% more than in the same period in 2022, according to the National Statistics Institute (INE).

Visitor and spending records were also broken in April: 8.48 billion euros, up 22.7% on 2022 and 20.2% on the best pre-pandemic figure (2019).

Héctor Gómez: “These are extraordinary figures that show, once again, that Spain is at the forefront, that tourism is recovering fully and that the government’s policies are working”.

Here is the evolution of tourism towards Spain with a rolling year of data:

Major research conducted by the World Travel & Tourism Council (WTTC), the global body which represents the private sector of Travel & Tourism, has revealed Travel & Tourism is the largest sector in the Spanish economy, contributing €176bn to the nation’s activity.

Yes indeed: Travel & Tourism contributes 15% of the Spanish GDP, overtaking Construction (14%) and ahead of Retail (12%) and Health (12%).

Why Spanish tourism is booming again? There are many reasons:

The top #10 reasons why tourists love Spain so much

Let’s start with the three obvious reasons: weather, a long coastline and of course a word class lifestyle.

#1 The weather: Spain has 320 days of sun ☀ per year, not bad.

Check this useful infographic showing how many hours of sun you will have on a yearly basis for any place in Europe.

Sunshine map of Europe, in Hours per year

Source: Wikemedia.org

Sunshine in Spain is higher than 2500 hours per year… No other country can compete in Europe with that and if you calculate the number of square kilometre with at least 2500 hours of sun per year, Spain has about 80% of the European supply. In this other interesting table from World weather online, Spain holds 6 out of the top 10 positions in Europe in terms of average monthly sun hours.

Number of hours of sun per month for the major European cities

Do you want to check the weather statistics for any Spanish city to make an informed decision? Have a look at our Infographics on the monthly weather statistics for the 18 biggest cities in Spain: Madrid, Barcelona, Alicante, Malaga,… and discover the sea temperature, the number of hours of sun per day, the number of mm of rain per month… Everything you need before planning your holidays.

Monthly weather statistics for the top 20 Spanish cities

#2 The wonderful coastline of Spain

Spain has the second longest coastal line in the south of Europe behind Italy. Enjoy the beautiful beaches of Spain. Don’t miss our detailed articles on all the Spanish Costas later in this article.

 

#3 The Spanish lifestyle

 

• Spain is the world’s healthiest country

 

• Spain enjoys a very stable political environment compared to Africa or Turkey for instance.

 

• Life expectancy in Spain is the second-best country in the world:

Let’s check the top 10 countries in the world by country and by sex. As you will see in the statistics produced by the OECD (2014 data), the life expectancy of Spaniards is the second longest in the world behind the Japanese. The Women are ranked as well as second and the men are ranked sixth.

• The Spanish health Care System is the seventh best in the world as the ranking of the World Health Organization.

 

• Spain is fourth in the world for work-life balance ranking

behind the Netherlands, Denmark and France. What a terrific result! The key findings of the research from the OECD are that the ability to successfully combine work, family commitments and personal life are important for the well-being of all members of a household. In Spain, almost 6% of employees work very long hours, less than the OECD average of 13%. The more people work, the less time they have to spend on other activities, such as time with others, leisure activities, eating or sleeping. The amount and quality of leisure time are important for people’s overall well-being and can bring additional physical and mental health benefits. In Spain, full-time workers devote 66% of their day on average, or 15.9 hours, to personal care (eating, sleeping, etc.) and leisure (socialising with friends and family, hobbies, games, computer and television use, etc.) – more than the OECD average of 15 hours.

At around 1.3 children per woman, fertility rates in Spain have been amongst the lowest in the OECD for the past two decades. Increasingly, women and men first want to establish themselves in the labour market before having children. This has led to a postponement of childbirth and the average age of first childbirth for mothers is now close to 30. Low fertility rates are also related to a fall in the number of large families and a significant proportion of women remaining childless.”

 

#4 The cost of living in Spain

 

The cost of life in Spain is much lower than European averages.

We did the work with the help of the Statistics from Eurostat as of December 2017 to compare Spain vs all the other countries in Europe so that you could compare to your actual country of origin.

Here are the results:

Cost of living in Spain vs Euirope, chart

If you compare Spain on this Chart in Orange colour with Europe in Blue colour, you will notice that Spain is more expensive in 2 areas: “Electricity, Gaz and fuels” and “Furniture and Furnishings” by 3%. A third sector not represented on this chart is Communication, which is 28% more expensive than the rest of Europe. For all the other sectors, Spain is cheaper!

Let’s have a look at the data:

Cost of living in Spain vs Europe, table

As you can see with the General Index, Spain is on average 10% Cheaper than Europe! Then, Spain is very cheap for “Transport Services”, “Restaurants and Hotels”, and “Clothing” and yes the list doesn’t stop here… Spain is really cheap for “Food and Drinks and Tobacco”.

For more information, read our articles on that subject with more up-to-date data:

• Which are the Spanish cities with the lowest cost of living?
• The cost of living in Spain vs UK

 

Cost of living in the major Spanish cities vs worldwide cities

 

#5 Family activities in Spain

Many interesting activities to practice with the family in Spain, here are a few:

• Where will you find the top Beaches in Spain?
• Our selection of the Top parks for children in Spain
• Our Top 5 UNESCO World Heritage Sites in Spain (see more later)
• And of course, no season for shopping (but we added to the winter section just below) 🙂

 

#6 Spain is a  wonderful place for Golf lovers

 

• Our Top 6 Golf Courses in Spain
• The 48 golf courses of the Costa del Sol & The best deals
• Our list of Spain’s top 5 golf academies

 

#7 Not only for the summer… Spain is the perfect place for tourism in the Winter

With its nice weather, Spain stays a nice place to visit even in the winter.

Last but not least… yes, let’s enjoy some shopping:

• #8 The best Spanish shopping experience: Alicante, Barcelona, Madrid, Malaga
• The best shopping secret in Spain: El Corte Ingles Tourist Card

 

#8 Cultural heritage tourism and rural tourism

Cultural heritage tourism in Spain thrives as the nation’s rich history paints a diverse and compelling tapestry of civilizations.

From the prehistoric caves of Altamira to the grandeur of the Alhambra in Granada, and the Sagrada Familia in Barcelona, the country offers a plethora of UNESCO World Heritage sites that reflect the influences of the Romans, Moors, and more recently, the modernist movement.

Lastly, nature and rural tourism flourish in Spain’s diverse landscapes. From the rugged Picos de Europa to the volcanic beauty of the Canary Islands, and the tranquillity of idyllic rural villages, Spain offers a variety of ecological diversity that inspires a sense of awe and adventure among outdoor enthusiasts.

 

Top Sights places & Unesco world-heritage places

Spain is a very rich country in terms of culture. You have a lot of Museums, many historic places, many sightseeing places. Spain has as well 45 UNESCO Sites and as such is the third country in the world behind Italy & China in terms of the number of sites! So don’t expect Spain to be just Sun and beaches!

Check all the must-do activities on any of the Spanish Costas with our beautiful infographics.

Here is the list of the Unesco sites with direct links to get more information on those:

• Alhambra, Generalife and Albayzín, Granada(1984)
• Antequera Dolmens Site(2016)
• Aranjuez Cultural Landscape(2001)
• Archaeological Ensemble of Mérida(1993)
• Archaeological Ensemble of Tárraco(2000)
• Archaeological Site of Atapuerca(2000)
• Burgos Cathedral(1984)
• Catalan Romanesque Churches of the Vall de Boí(2000)
• Cathedral, Alcázar and Archivo de Indias in Seville(1987)
• Cave of Altamira and Paleolithic Cave Art of Northern Spain(1985)
• Cultural Landscape of the Serra de Tramuntana(2011)
• Heritage of Mercury. Almadén and Idrija(2012)
• Historic Centre of Cordoba(1984)
• Historic City of Toledo(1986)
• Historic Walled Town of Cuenca(1996)
• La Lonja de la Seda de Valencia(1996)
• Las Médulas(1997)
• Monastery and Site of the Escurial, Madrid(1984)
• Monuments of Oviedo and the Kingdom of the Asturias(1985)
• Mudejar Architecture of Aragon(1986)
• Old City of Salamanca(1988)
• Old Town of Ávila with its Extra-Muros Churches(1985)
• Old Town of Cáceres(1986)
• Old Town of Segovia and its Aqueduct(1985)
• Palau de la Música Catalana and Hospital de Sant Pau, Barcelona(1997)
• Palmeral of Elche(2000)
• Poblet Monastery(1991)
• Prehistoric Rock Art Sites in the Côa Valley and Siega Verde(1998)
• Renaissance Monumental Ensembles of Úbeda and Baeza(2003)
• Rock Art of the Mediterranean Basin on the Iberian Peninsula(1998)
• Roman Walls of Lugo(2000)
• Routes of Santiago de Compostela:Camino Francés and Routes of Northern Spain (1993)
• Royal Monastery of Santa María de Guadalupe(1993)
• San Cristóbal de La Laguna(1999)
• San Millán Yuso and Suso Monasteries(1997)

Here is Our Top 5 UNESCO World Heritage Sites in Spain

 

#9 Nature tourism

Spain is an ideal destination for nature tourism, offering a diverse range of environments that attract visitors from around the world.

From the rugged cliffs and crystal-clear waters of Costa Brava to the breathtaking peaks of the Pyrenees and Sierra Nevada, the country presents an impressive spectrum of natural beauty. Spain’s numerous national parks, such as Donana National Park and Picos de Europa, provide opportunities to see unique wildlife and plants in their native habitats, while the volcanic landscapes of the Canary Islands, particularly Teide National Park in Tenerife, offer otherworldly vistas.

Moreover, the Camino de Santiago trails draw hikers seeking a blend of spiritual, cultural, and natural experiences. With sustainable practices gaining traction, eco-friendly accommodations and tours are also becoming increasingly popular, further boosting nature tourism in Spain.

Thus, for those seeking to immerse themselves in nature, whether through hiking, bird-watching, or simply relaxing, Spain provides an abundance of options.

Countryside outside Barcelona

#10 Gastronomic tourism in Spain

 

Spain is also famous for its gastronomic tourism. The unique flavours of Spanish cuisine, embodied in its tapas, paellas, and world-class wines, draw food enthusiasts to regions like Andalusia, Catalonia, and the Basque Country, providing an edible exploration of the country’s varied regions.

Here are a few examples, not exhaustive of course, of the Spanish cuisines.

 

### The Andalusian Delicacies

Andalusia, nestled in the heart of Spain, is best known for its olives, sherry, and tapas. The region follows the quintessential Mediterranean diet, which focuses on heart-healthy olive oil, a variety of fruits and vegetables, and high-quality proteins like fish and legumes. One must-try dish is the Gazpacho Andaluz, a refreshing tomato-based cold soup that perfectly embodies the region’s love for fresh produce. Pair this with a glass of Fino or Manzanilla, Andalusia’s signature sherries, for a well-rounded Andalusian feast.

Spanish beef

### The Seafood Extravaganza of Galicia

Moving up to the north-west coast, Galicia boasts a breathtaking coastline that contributes heavily to its seafood-rich diet. Here, the Empanada Gallega reigns supreme – a hearty pie filled with various ingredients, most commonly tuna, sardines, or pork. Don’t miss out on the region’s renowned Pulpo a la Gallega, a delicacy of tender octopus seasoned with paprika, rock salt, and olive oil. Galicia’s Ribeiro and Albariño wines, with their crisp and fresh qualities, perfectly complement the seafood palette.

### The Gastronomic Wonders of Catalonia

In Catalonia, gastronomy is as diverse as the region itself, blending flavours from the mountains and the sea. The traditional Catalan diet is rich in vegetables, legumes, and cereals, supplemented by meat and dairy products. An iconic dish is the Escudella i Carn d’Olla, a hearty meat and vegetable stew savoured during the winter months. Catalan cream, a sweet and creamy custard topped with a hard layer of caramel, is a must-try dessert for the sweet-toothed traveller.

### The Unique Flavours of Basque Country

Last but not least, we journey to the Basque Country, a region celebrated for its pintxos – small finger foods served atop bread, akin to tapas but with a unique Basque twist. The traditional Basque diet showcases locally sourced ingredients, including fish, lamb, and an assortment of vibrant vegetables. Try the Marmitako, a tuna and potato stew that originated from Basque sailors, and the Gilda, the most iconic pintxo composed of olive, anchovy, and guindilla pepper.

 

The beauty of Spain’s gastronomy lies in its diversity, with each region offering its own unique dietary patterns and food traditions. From the refreshing Gazpacho of Andalusia to the seafood delight of Galicia, the hearty stews of Catalonia, and the famous pintxos of the Basque Country, Spain’s gastronomic landscape invites you on a journey that promises to enchant your senses, captivate your heart, and leave an indelible impression on your palate. So, pack your bags (and your appetite) and embark on an unforgettable gastronomic adventure in Spain!

 

Discover the beautiful Spanish Costas – All our resources are here

In order to help you discover all the Spanish Costas, we wrote detailed articles with nice downloadable maps with all the major activities for each of the Spanish Costas. You will learn about the regions and find all the useful information as:

• Where are the closest Airport and Fast train stations (AVE in Spain)?
• What are the biggest cities in the region?
• Where are the Unesco sites in that Spanish Costa?
• Where can you find the top beaches?
• Where can you find the best Kids’ Parks, traditional markets, Shopping Malls & Outlets, Top golf courses and Natural Parks?
• Last but not least, we will give you a direct link to the local tourist offices.

Here are all the links for the different articles and infographics on all the Spanish Costas:

• Everything you ever wanted to know about the Costa de Almería.
• Everything you ever wanted to know about the Costa del Azahar.
• Everything you ever wanted to know about the Balearic Islands.
• Everything you ever wanted to know about the Costa de Barcelona.
• Everything you ever wanted to know about the Costa Blanca.
• Everything you ever wanted to know about the Costa Brava.
• Everything you ever wanted to know about Costa Calida.
• Everything you ever wanted to know about the Canary Islands.
• Everything you ever wanted to know about Costa Daurada.
• Everything you ever wanted to know about the Costa de la Luz.
• Everything you ever wanted to know about the Costa del Sol.
• Everything you ever wanted to know about the Costa Tropical.
• Everything you ever wanted to know about the Costa de Valencia.

 

Find all our best Spanish Costas infographics: Costa Brava, Costa del Sol, Costa Blanca, Costa Barcelona, Balearic Islands, Canary Islands,…

 

Spanish tourism in numbers: Where do tourists go? Where do they stay?

Here is a quick sum up of all the interesting statistics about tourists visiting Spain from the Spanish national office. All the data are for the full year 2022. So yes, they are not yet back to pre-coronavirus 2019 but close to being. 2023 just started strongly and should be back to 2019 level if not stronger.

#1 Where do tourists in Spain come from?

The top 5 countries for the full year 2022 are:

1. The United Kingdom with 21% of the tourists
2. Germany with 14% of the tourists
3. France with 14% of the tourists
4. Nordic countries with 6% of the tourists
5. Italy with 6% of the tourists
6. Netherlands with 5% of the tourists

Here is our interactive chart with those data:

If you are travelling to Spain and would like to buy your dream home, start with our Spanish property buyer’s guides written for the top 10 nationalities buying properties in Spain.

 

#2 How do tourists arrive in Spain?

83% of the tourists visiting Spain came by plane. If we think about it, it’s obvious, people travel from far where they have less sun to Spain in order to enjoy the sun. Spain has a very strong network of International Airports.

Have a look at our earlier articles on that:

• What are the nationalities of the passengers flying to/from Spanish airports in 2018?
• What are the biggest airports in Spain?

The second way of arriving in Spain is the car, 15% of travellers towards Spain come by car. Spain benefits from a very strong infrastructure network and in addition to that, there is a latest trend in Spain: Motorways are becoming toll-free in Spain…

Last but not least, even if the AVE Network does exist for more than 25 years in Spain, only a minor portion of tourists come from abroad with fast trains. For sure, the fast train AVE Network helps tourists to move quickly between cities.

#3 Which are the most visited Spanish Regions by foreign tourists in 2022?

The top 4 Spanish regions are receiving 70% of the tourism traffic.

1. Catalonia with 21% of the tourists
2. The Balearic Islands with 18% of the tourists
3. The Canary Islands with 17% of the tourists
4. Andalusia with 14% of the tourists
5. Valencian Community with 12.0% of the tourists
6. Other Spanish regions apart from Madrid: 9.2%
7. Madrid with 8.4% of the tourists

Discover all the beautiful Costas of  Spain

Find all our best Spanish Costas infographics: Costa Brava, Costa del Sol, Costa Blanca, Costa Barcelona, Balearic Islands, Canary Islands,…

#4 How long do tourists stay in Spain?

• No night 32% of trips
• 1 night 3% of trips
• 2 to 3 nights for 12% of trips to Spain
• 4 to 7 nights for 33% of trips and so yes, this is the most common length of stay in Spain
• 8 to 15 nights for 15% of travellers
• More than 15 nights for only 5% of travellers, I guess retirees :-).

#5 Where do the tourists stay in Spain? Hotel? Friends?

There were 71,561,489 trips booked in 2022 by foreigners in Spain. Out of those 83% paid to stay a night somewhere and 17% didn’t pay.

For those paying for their accommodations, here is where they went:

• 82.5% of tourists booked a hotel
• 12% went for a housing rental
• And the balance went for camping or other facilities like the “Casa Rural”

For the tourists that did not pay for staying in Spain,  they either enjoyed their personal property 34.5% or enjoyed the hospitality of family and friends 60% of them. The balance is other non-paying options for 5%.

What are the best investment opportunities for a second home?

In order to assist you with your property hunting in Spain, check our dedicated article: The best search tips for buying your Spanish property (if you are too busy start here)

Other interesting resources on Spanish Tourism

• The Ministry of Tourism in Spain
• Wikipedia on Spanish Tourism
• The official tourism office in Spain
• Lonely planet guide on Spain
• And for French readers “Le guide du routard sur l’Espagne”
• Interesting statistics on Spanish Tourism from Statista.

Our downloadable infographics on the Spanish tourism

If you want to have more resources before visiting Spain, here is the official website of the Spanish tourism office.

Source: INE

Our FAQ on Tourism in Spain

The post Spain’s tourism is back… to new highs as of April 2023☀  😎  appeared first on How to buy in Spain.

You need some sun and yes work?

Have a look at our top Spanish cities for foreigners to work

Spain is a popular destination for expats. After the recession, unemployment in Spain rose significantly.

But now, Spain’s economy is the fastest-growing in Europe, check our “Must see charts” on this and compare the Spanish GDP growth rate expected for 2017 and 2018 vs all the other European countries.

Most wanted fields are teaching and IT.

So we listed the best cities for foreigners: Barcelona, Madrid and Valencia… but as well the Andalucian Region.

Barcelona

• Most popular city for expats
• Home to many communities
• Late night clubs attract young people and artists
• Families come for the international schools

Check our article on Barcelona’s real estate market.

Madrid

• Appeals to both young and old
• Big city life in the center, greenery, and room for families in the suburbs
• The most expensive city to live in
• Cultural attractions, tapas bars, exciting nightlife

Read our article on the real estate market in Madrid: “Madrid on the top 3 list in Europe to invest in”

Valencia

• Comfort of a big city without being a metropolis
• Beaches and nightlife, affordable, yet peaceful lifestyle
• Proximity to Alicante, offering more entertainment
• Quickly growing population as more expats choose Valencia
• Valencia is the third city in Spain in terms of population

Read our last paper on the real estate market in Valencia.

Andalusia Region

• Expats flock to Seville and Granada, the biggest cities in the area
• Mostly rural, the area has deep ties to Moorish and Roma cultures
• Seville attracts older people due to being more conservative
• Granada attracts the younger crowd
• Peaceful lifestyle with a lot of hospitals, movie theaters, restaurants
• Proximity to Costa del Sol for brief beach getaways

Discover the best new build projects in Spain available right now

As you know, Spain is a place for startups, check the infographic we wrote on this:

If you want to organize a city trip to Madrid Barcelona (or Alicante and Malaga), you will find a few ideas of the cultural wealth of those cities in our infographics.

Of course, the weather is important, although it’s sunny in most Spanish cities, you will be able to compare monthly weather statistics for all those Spanish cities here.

Looking for an expert in Spain? Ask us directly!

Stéphane

Senior analyst and strategist at HTBIS

Check the full HTBIS team here

The post Top Spanish cities for foreigners to work appeared first on How to buy in Spain.

Click on any flag to get an automatic translation from Google translate. Some news could have an original translation here: News Nouvelles Nieuws Noticias Nachrichten

 

How to pay in £,$,¥ Pounds, Dollars, Francs, Yuan for my € Spanish property?

How to transfer my cash efficiently to Spain?

 

Many foreigners: British, Canadian, American, Swiss, Israeli, Moroccan, Chinese, Russian, have a different currency at home than the Euro

 

Long term, it is a very good diversification strategy to have some assets like real estate in another country, and furthermore in another currency, than in your home country.

Most of your assets are in your home country but:

• Economic cycle is different in Spain than in your home country
• Inflation is different in Spain than in your home country
• Monetary policies are different in Spain than in your home country
• Euro is used by more than 300m people in Europe

 

 

In order to help you check the long-term evolution of the main currencies against Euro, we have created a table with up to date Sterling, Ruble, Swedish Krona, Norwegian Krone, Dollar, Yuan and Shekel long-term evolution against Euro.

Check what happened to the Sterling after the Brexit vote in 2016. For sure, the British who bought some properties in Spain before the Brexit vote were pleased of that diversification.

If you are buying a property in Spain, in the short term, this means that you will have some currency volatility and some costs to cover if you are investing from outside the EU zone. Have a look at this paper on why currencies are volatile and how you can manage it.

In 2021, about 15% of the properties bought by foreigners in Spain are bought by the British.

After feeling the effect of the Brexit vote that happened on the 23rd of June 2016, British were less active on the Spanish real estate market and the pound lost 10% of its value vs the Euro, Check a chart on the Sterling evolution vs Euro here from Reuters. Of course, in 2020, activity was much lower due to Covid. But end of 2021, activity was really strong. Anyway, they remain by far the first nationality in terms of purchases done by any foreign country.

Foreigners are buying their property in Euro while having their home currency in their bank account.

 

Book your free appointment with the currency hedging specialist

 

What are the solutions for foreigners buying real estate in Euro with a different home currency?

1. Ask their bank to exchange their home currency into euro and to transfer the funds to Spain
2. Benefit from lower exchange rates thanks to the online platforms like Currencytransfer.com to convert their home currency into Euro and to transfer the funds to Spain

 

HowtobuyinSpain negotiated with them so that customers get a preferred rate for their property purchases.

 

What are the biggest advantages of the later?

• No commission system, much lower final cost than with a bank taking a commission for converting your currency into Euro AND for wiring the funds to Spain
• No hidden fees: the exchange rate includes a small margin form mid-bank rate
• Get the best price available at any time on the market: Many well-known FCA regulated currency providers compete for the flow
• Segregated account: your money is on a transit account bearing your name of a FCA regulated currency entity, it is never on the balance sheet of the platform itself.
• Transfer the correct amount in the local currency
• A dedicated relationship manager will help you out to manage your hedging the most efficiently as corporations do.
• You can instruct your Relationship Manager to wait for your precise exchange rate, (to gain more or to lose less)
• If your account is open, you can lock a rate once your account is open and transfer the money after

 

 

Why Currencytransfer?

For all the foreigners looking to buy with non-Euro currencies as Sterling, American Dollar, Canadian Dollar, Shekel, Yuan, Ruble, Swedish Krona, Norwegian Krone and other Asian currencies,… when you are buying a property in Euros, you will need to exchange your currency into Euros and transfer the money to buy your property. Most of the time, this involves huge bank costs: up to 5% and mostly close to 3%.

Have a look at our partner based in London: Currencytransfer.com! We have negotiated with them the best service and the best rates for our customers. They take a very low commission rate and transfer the funds without any costs. You can create your account for free and lock your exchange rate into Euros even before wiring funds with your local currency. Have a look at their website and don’t forget to mention “HTBIS” in the field “Where did you hear about us?” to get the best rates we negotiated with them for the members of our network.

Ask our partner what is the most efficient strategy to hedge your currency risk

How does it work in practice?

1. Open your free account on Currencytransfer.com and mention HTBIS code in the field “Where did you hear about us” to get the best rates,
2. Lock an exchange rate between your local currency and Euro (or instruct a threshold exchange rate to be traded later)
3. Wire the funds in your local currency on your segregated account in a top tier bank
4. Receive the funds in Euro on your account in Spain, on the account of your lawyer,…

 

Let’s have a look at an example of trade with CurrencyTransfer.com

Let’s say you’re a British looking to purchase your second home in Spain at a cost of €200,000.

• • STEP 1 You book a deal on the CurrencyTransfer platform to buy €200,000 at an exchange rate of €/£ 0.8800. This will cost you £176,000.
  • STEP 2 Behind the scenes, your selected FCA payment provider buys €200,000 from one of its market counterparties to ensure they have funds available to honour your deal.
  • STEP 3 The next step is to pay your winning payment provider the £176,000. You pay this directly to their Segregated Client Account. These are all secure, separate client accounts, held with stable, tier-1 banks (such as Barclays or RBS). This ensures that your money is safe from any business liabilities that the payment provider could be affected by.
  • STEP 4 With your payment of £176,000 now safe in the payment provider’s Segregated Client Account, the broker now needs to pay the €200,000 that you booked across to your Spanish lawyer, notary or even your own Spanish account on the date that you have chosen.
  • FINISH Once the payment has been delivered to the beneficiary the transaction is complete

 

As of January 2022, here is the business update from Currencytransfer

• • Clients: 6,500+
  • Currencies: 28
  • Value of the currencies exchanged by the group since start: more than £3 bn
  • *Average saving: £1,260
  • Proud to have saved our clients over £15 million in hidden currency fees

 

 

Other uses? Transfer cash (minimum €10.000) to relatives everywhere around the world.

 

Looking for a lawyer, an architect, a property hunter in Spain? Ask us directly!

 

Stéphane

Senior analyst and strategist at HTBIS

Check the full HTBIS team here

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The post How to pay in £,$,¥ Pounds, Dollars, Francs, Yuan for my Spanish property? appeared first on How to buy in Spain.

Cost of living in Spain vs UK

Who is the winner?

In this article, we will explain you why the cost of living in Spain is so interesting vs United Kingdom. At the same time, you will discover which Spanish cities are the best to work or relax with a small budget and which ones are the most expensive ones. Last but not least you will be able to compare the major English cities with the major cities in Spain.

Yes, Spain is one of the cheapest country in the world and it is even more interesting if you take into account the quality of life and the economic activity!

1. The cost of living in Spain vs United Kingdom is 19% lower

   Of course, you will tell us that you want to go to Spain for the Sun or for the beaches…

   There are plenty of other good reasons as well but when you look at finding a place to live, we think that the cost of life is very important!

    

    

   We did the work with the help of the Statistics from Eurostat to compare Spain cost of live vs United Kingdom so that you could compare your current lifestyle with the one you could have in Spain.

    

   Let’s have a look at the data:

   Cost of Products and Services	United Kingdom	Spain	United Kingdom vs Spain
   Alcoholic beverages and tobacco	166	91	55%
   Transport services	136	88	65%
   Transport equipment	136	88	65%
   Average cost of life	121	98	81%
   Restaurants and hotel	105	89	85%
   Furnitures and furnishings	107	102	96%
   Clothing	86	90	105%
   Footwear	95	100	105%
   Household appliances	94	99	105%
   Consumer electronics	96	100	105%
   Communication	116	123	105%
   Food and non alcoholic beverages	92	97	106%
   Electricity, gaz and fuels	92	107	116%

   Source: Eurostat 2020

   The cost of living in Spain is 19% lower than in United Kingdom according to Eurostat

   If you prefer a chart, here is our interactive chart:

    

   So, next time you visit Spain, enjoy the sun, the beaches, the cultural treasures and of course the quality of life… and for sure, the excellent Mediterranean food and tapas!
   As you can see on this table with the General Index: Spain is on average 19% cheaper than the United Kingdom and 8% cheaper than the rest of Europe!

   Summer 2022 update: Spain is cheaper than the United Kingdom for utilities.

   Spain is cheaper for …

   • Spain is less expensive than United Kingdom for alcoholic beverages and tobacco by 45.4%
   • Spain is less expensive than United Kingdom for transport services by 35.3%
   • Spain is less expensive than United Kingdom for transport equipment by 35.3%
   • Spain is less expensive than United Kingdom on average by 19.2%
   • Spain is less expensive than United Kingdom for restaurants and hotels by 14.6%
   • Spain is less expensive than United Kingdom for furniture and furnishings by 4.4%

    

   

   10 reasons for buying a property in Spain

   Spain is more expensive for …

   • Spain is more expensive than United Kingdom for clothing by 4.8%
   • Spain is more expensive than United Kingdom for footwear by 4.8%
   • Spain is more expensive than United Kingdom for household appliances by 4.9%
   • Spain is more expensive than United Kingdom for consumer electronics by 4.9%
   • Spain is more expensive than United Kingdom for communication by 5.4%
   • Spain is more expensive than United Kingdom for food and non alcoholic beverages by 5.5%
   • Spain is more expensive than United Kingdom for electricity, gaz and fuels by 15.8%

    

2. Cost of living in Spain vs UK & the world

   Numbeo, is a website comparing the cost of living in many different countries and cities all over the world. According to them, in January 2022, Spain is the 46th most expensive country in the world with an average cost of living (including rent) of 38.58 (vs 100 for New York) while United Kingdom has a cost of living of 51.93.

   The cost of living in Spain is 25.7% lower than in United Kingdom according to Numbeo

   How Numbeo creates its indexes?

   Numbeo takes NYC as a reference: these indices are relative to New York City (NYC). Which means that for any city with the same cost of life as New York City, it will have a value of 100. If another city has, for example, rent index of 120, it means that on an average in that city rents are 20% more expensive than in New York City. If a city has a rent index of 70, that means on an average in that city rents are 30% less expensive than in New York City.

   Here are some other cost of living comparison between Spain and United Kingdom:

   • Spain cost of living (without rent ) is 22.6% cheaper than in United Kingdom
   • To rent a property in Spain it is is 33.3% cheaper than in United Kingdom
   • Groceries are 19.2% cheaper in Spain than in United Kingdom
   • Restaurants are 29.7% cheaper in Spain than in United Kingdom

    

   Last interesting point to note, is that Spain has even with its cheap cost of life a lower purchasing power than United Kingdom (21.1%). The meaning of this is that, yes, cost of living is cheap but on average salaries are even lower than in UK.

3. Cost of living in the biggest cities of the world

   And you will see quickly how much you will save, even if you are there on holiday. That’s one of the best-kept secrets of Spain.

    

   Have a look at our chart comparing the different purchasing power of the biggest cities in the world with many Spanish cities.

    

    

4. English cities vs Spanish comparison

   Thanks to Numbeo, we compared the cost of living for the major English cities vs the major Spanish cities, and yes, on average, it is much cheapen in Spain, one of the rare exception is Leicester which has a cost of life close to the Spanish cities.

    

   Cost of living in London vs Spanish cities

   • Barcelona cost of living is 41% cheaper than London cost of living
   • Bilbao cost of living is 42% cheaper than London cost of living
   • Madrid cost of living is 42% cheaper than London cost of living
   • Palma de Mallorca cost of living is 45% cheaper than London cost of living
   • Malaga cost of living is 50% cheaper than London cost of living
   • Valencia cost of living is 52% cheaper than London cost of living
   • Seville cost of living is 52% cheaper than London cost of living
   • Las Palmas cost of living is 52% cheaper than London cost of living
   • Zaragoza cost of living is 53% cheaper than London cost of living
   • Alicante cost of living is 54% cheaper than London cost of living
   • Vigo cost of living is 54% cheaper than London cost of living
   • Tenerife cost of living is 55% cheaper than London cost of living
   • Granada cost of living is 56% cheaper than London cost of living
   • Murcia cost of living is 56% cheaper than London cost of living

    

   Source: Numbeo, January 2022, Cost of living Index (including rent)

    

   Cost of living in Bristol vs Spanish cities

   • Barcelona cost of living is 17% cheaper than Bristol cost of living
   • Bilbao cost of living is 18% cheaper than Bristol cost of living
   • Madrid cost of living is 18% cheaper than Bristol cost of living
   • Leicester cost of living is 20% cheaper than Bristol cost of living
   • Palma de Mallorca cost of living is 22% cheaper than Bristol cost of living
   • Malaga cost of living is 30% cheaper than Bristol cost of living
   • Valencia cost of living is 32% cheaper than Bristol cost of living
   • Seville cost of living is 32% cheaper than Bristol cost of living
   • Las Palmas cost of living is 32% cheaper than Bristol cost of living
   • Zaragoza cost of living is 33% cheaper than Bristol cost of living
   • Alicante cost of living is 35% cheaper than Bristol cost of living
   • Vigo cost of living is 36% cheaper than Bristol cost of living
   • Tenerife cost of living is 36% cheaper than Bristol cost of living
   • Granada cost of living is 38% cheaper than Bristol cost of living
   • Murcia cost of living is 38% cheaper than Bristol cost of living

    

   Source: Numbeo, January 2022, Cost of living Index (including rent)

    

   Cost of living in Edinburgh vs Spanish cities

   • Barcelona cost of living is 15% cheaper than Edinburgh cost of living
   • Bilbao cost of living is 16% cheaper than Edinburgh cost of living
   • Madrid cost of living is 16% cheaper than Edinburgh cost of living
   • Palma de Mallorca cost of living is 20% cheaper than Edinburgh cost of living
   • Malaga cost of living is 28% cheaper than Edinburgh cost of living
   • Valencia cost of living is 31% cheaper than Edinburgh cost of living
   • Seville cost of living is 31% cheaper than Edinburgh cost of living
   • Las Palmas cost of living is 31% cheaper than Edinburgh cost of living
   • Zaragoza cost of living is 32% cheaper than Edinburgh cost of living
   • Alicante cost of living is 34% cheaper than Edinburgh cost of living
   • Vigo cost of living is 34% cheaper than Edinburgh cost of living
   • Tenerife cost of living is 35% cheaper than Edinburgh cost of living
   • Granada cost of living is 37% cheaper than Edinburgh cost of living
   • Murcia cost of living is 37% cheaper than Edinburgh cost of living

    

   Source: Numbeo, January 2022, Cost of living Index (including rent)

    

   Cost of living in Manchester vs Spanish cities

   • Barcelona cost of living is 14% cheaper than Manchester cost of living
   • Bilbao cost of living is 15% cheaper than Manchester cost of living
   • Madrid cost of living is 15% cheaper than Manchester cost of living
   • Palma de Mallorca cost of living is 19% cheaper than Manchester cost of living
   • Malaga cost of living is 27% cheaper than Manchester cost of living
   • Valencia cost of living is 30% cheaper than Manchester cost of living
   • Seville cost of living is 30% cheaper than Manchester cost of living
   • Las Palmas cost of living is 30% cheaper than Manchester cost of living
   • Zaragoza cost of living is 31% cheaper than Manchester cost of living
   • Alicante cost of living is 33% cheaper than Manchester cost of living
   • Vigo cost of living is 34% cheaper than Manchester cost of living
   • Tenerife cost of living is 34% cheaper than Manchester cost of living
   • Granada cost of living is 36% cheaper than Manchester cost of living
   • Murcia cost of living is 36% cheaper than Manchester cost of living

    

   Source: Numbeo, January 2022, Cost of living Index (including rent)

    

   Cost of living in Birmingham vs Spanish cities

   • Barcelona cost of living is 8% cheaper than Birmingham cost of living
   • Bilbao cost of living is 9% cheaper than Birmingham cost of living
   • Madrid cost of living is 9% cheaper than Birmingham cost of living
   • Palma de Mallorca cost of living is 13% cheaper than Birmingham cost of living
   • Malaga cost of living is 22% cheaper than Birmingham cost of living
   • Valencia cost of living is 24% cheaper than Birmingham cost of living
   • Seville cost of living is 25% cheaper than Birmingham cost of living
   • Las Palmas cost of living is 25% cheaper than Birmingham cost of living
   • Zaragoza cost of living is 26% cheaper than Birmingham cost of living
   • Alicante cost of living is 28% cheaper than Birmingham cost of living
   • Vigo cost of living is 29% cheaper than Birmingham cost of living
   • Tenerife cost of living is 29% cheaper than Birmingham cost of living
   • Granada cost of living is 31% cheaper than Birmingham cost of living
   • Murcia cost of living is 32% cheaper than Birmingham cost of living

    

   Source: Numbeo, January 2022, Cost of living Index (including rent)

    

   Cost of living in Leeds vs Spanish cities

   • Barcelona cost of living is 7% cheaper than Leeds cost of living
   • Bilbao cost of living is 8% cheaper than Leeds cost of living
   • Madrid cost of living is 8% cheaper than Leeds cost of living
   • Palma de Mallorca cost of living is 13% cheaper than Leeds cost of living
   • Malaga cost of living is 21% cheaper than Leeds cost of living
   • Valencia cost of living is 24% cheaper than Leeds cost of living
   • Seville cost of living is 24% cheaper than Leeds cost of living
   • Las Palmas cost of living is 24% cheaper than Leeds cost of living
   • Zaragoza cost of living is 25% cheaper than Leeds cost of living
   • Alicante cost of living is 27% cheaper than Leeds cost of living
   • Vigo cost of living is 28% cheaper than Leeds cost of living
   • Tenerife cost of living is 28% cheaper than Leeds cost of living
   • Granada cost of living is 31% cheaper than Leeds cost of living
   • Murcia cost of living is 31% cheaper than Leeds cost of living

    

   Source: Numbeo, January 2022, Cost of living Index (including rent)

    

   Cost of living in Nottingham vs Spanish cities

   • Barcelona cost of living is 6% cheaper than Nottingham cost of living
   • Bilbao cost of living is 7% cheaper than Nottingham cost of living
   • Madrid cost of living is 7% cheaper than Nottingham cost of living
   • Palma de Mallorca cost of living is 12% cheaper than Nottingham cost of living
   • Malaga cost of living is 21% cheaper than Nottingham cost of living
   • Valencia cost of living is 23% cheaper than Nottingham cost of living
   • Seville cost of living is 23% cheaper than Nottingham cost of living
   • Las Palmas cost of living is 23% cheaper than Nottingham cost of living
   • Zaragoza cost of living is 24% cheaper than Nottingham cost of living
   • Alicante cost of living is 26% cheaper than Nottingham cost of living
   • Vigo cost of living is 27% cheaper than Nottingham cost of living
   • Tenerife cost of living is 28% cheaper than Nottingham cost of living
   • Granada cost of living is 30% cheaper than Nottingham cost of living
   • Murcia cost of living is 30% cheaper than Nottingham cost of living

    

   Source: Numbeo, January 2022, Cost of living Index (including rent)

    

   Cost of living in Cardiff vs Spanish cities

   • Barcelona cost of living is 5% cheaper than Cardiff cost of living
   • Bilbao cost of living is 6% cheaper than Cardiff cost of living
   • Madrid cost of living is 6% cheaper than Cardiff cost of living
   • Palma de Mallorca cost of living is 11% cheaper than Cardiff cost of living
   • Malaga cost of living is 20% cheaper than Cardiff cost of living
   • Valencia cost of living is 22% cheaper than Cardiff cost of living
   • Seville cost of living is 23% cheaper than Cardiff cost of living
   • Las Palmas cost of living is 23% cheaper than Cardiff cost of living
   • Zaragoza cost of living is 24% cheaper than Cardiff cost of living
   • Alicante cost of living is 26% cheaper than Cardiff cost of living
   • Vigo cost of living is 27% cheaper than Cardiff cost of living
   • Tenerife cost of living is 27% cheaper than Cardiff cost of living
   • Granada cost of living is 29% cheaper than Cardiff cost of living
   • Murcia cost of living is 30% cheaper than Cardiff cost of living

    

   Source: Numbeo, January 2022, Cost of living Index (including rent)

    

   Cost of living in Glasgow vs Spanish cities

   • Barcelona cost of living is 5% cheaper than Glasgow cost of living
   • Bilbao cost of living is 6% cheaper than Glasgow cost of living
   • Madrid cost of living is 6% cheaper than Glasgow cost of living
   • Palma de Mallorca cost of living is 11% cheaper than Glasgow cost of living
   • Malaga cost of living is 20% cheaper than Glasgow cost of living
   • Valencia cost of living is 22% cheaper than Glasgow cost of living
   • Seville cost of living is 23% cheaper than Glasgow cost of living
   • Las Palmas cost of living is 23% cheaper than Glasgow cost of living
   • Zaragoza cost of living is 24% cheaper than Glasgow cost of living
   • Alicante cost of living is 26% cheaper than Glasgow cost of living
   • Vigo cost of living is 27% cheaper than Glasgow cost of living
   • Tenerife cost of living is 27% cheaper than Glasgow cost of living
   • Granada cost of living is 29% cheaper than Glasgow cost of living
   • Murcia cost of living is 30% cheaper than Glasgow cost of living

    

   Source: Numbeo, January 2022, Cost of living Index (including rent)

    

   Cost of living in Liverpool vs Spanish cities

   • Barcelona cost of living is 5% cheaper than Liverpool cost of living
   • Bilbao cost of living is 6% cheaper than Liverpool cost of living
   • Madrid cost of living is 6% cheaper than Liverpool cost of living
   • Palma de Mallorca cost of living is 11% cheaper than Liverpool cost of living
   • Malaga cost of living is 19% cheaper than Liverpool cost of living
   • Valencia cost of living is 22% cheaper than Liverpool cost of living
   • Seville cost of living is 22% cheaper than Liverpool cost of living
   • Las Palmas cost of living is 22% cheaper than Liverpool cost of living
   • Zaragoza cost of living is 23% cheaper than Liverpool cost of living
   • Alicante cost of living is 25% cheaper than Liverpool cost of living
   • Vigo cost of living is 26% cheaper than Liverpool cost of living
   • Tenerife cost of living is 27% cheaper than Liverpool cost of living
   • Granada cost of living is 29% cheaper than Liverpool cost of living
   • Murcia cost of living is 29% cheaper than Liverpool cost of living

    

   Source: Numbeo, January 2022, Cost of living Index (including rent)

    

   Cost of living in Sheffield vs Spanish cities

   • Barcelona cost of living is the same as Sheffield cost of living
   • Bilbao cost of living is 1% cheaper than Sheffield cost of living
   • Madrid cost of living is 2% cheaper than Sheffield cost of living
   • Palma de Mallorca cost of living is 7% cheaper than Sheffield cost of living
   • Malaga cost of living is 16% cheaper than Sheffield cost of living
   • Valencia cost of living is 19% cheaper than Sheffield cost of living
   • Seville cost of living is 19% cheaper than Sheffield cost of living
   • Las Palmas cost of living is 19% cheaper than Sheffield cost of living
   • Zaragoza cost of living is 20% cheaper than Sheffield cost of living
   • Alicante cost of living is 22% cheaper than Sheffield cost of living
   • Vigo cost of living is 23% cheaper than Sheffield cost of living
   • Tenerife cost of living is 24% cheaper than Sheffield cost of living
   • Granada cost of living is 26% cheaper than Sheffield cost of living
   • Murcia cost of living is 26% cheaper than Sheffield cost of living

    

   Source: Numbeo, January 2022, Cost of living Index (including rent)

    

   Cost of living in Leicester vs Spanish cities

   Leicester is the only city which is more expensive than a few Spanish city, all the other English cities are cheaper than Spanish cities. Here are the comparisons:

   • Barcelona cost of living is 4% more expensive than Leicester cost of living
   • Bilbao cost of living is 3% more expensive than Leicester cost of living
   • Madrid cost of living is 2% more expensive than Leicester cost of living
   • Palma de Mallorca cost of living is 3% cheaper than Leicester cost of living
   • Malaga cost of living is 13% cheaper than Leicester cost of living
   • Valencia cost of living is 15% cheaper than Leicester cost of living
   • Seville cost of living is 16% cheaper than Leicester cost of living
   • Las Palmas cost of living is 16% cheaper than Leicester cost of living
   • Zaragoza cost of living is 17% cheaper than Leicester cost of living
   • Alicante cost of living is 19% cheaper than Leicester cost of living
   • Vigo cost of living is 20% cheaper than Leicester cost of living
   • Tenerife cost of living is 20% cheaper than Leicester cost of living
   • Granada cost of living is 23% cheaper than Leicester cost of living
   • Murcia cost of living is 23% cheaper than Leicester cost of living

    

   Source: Numbeo, January 2022, Cost of living Index (including rent)

    

   Compare the cost of living of two cities in the world

   And you will see quickly how much you will save, even if you are there on holiday. That’s one of the best-kept secrets of Spain.

   Compare two cities with Numbeo, here we took Valencia and Malaga

   Check the city comparator of Flying Yack

    

   If you want to find out quickly which is the cheapest city in any region in the world, don’t forget to check the colour maps of Numbeo.

    

5. Daily costs comparisons between English and Spanish cities

    

   Rents comparison of Spanish and English cities

    

   Rent Index is an estimation of prices for renting apartments in the city studied made by Numbeo compared to New York City. The current Rent index in January 2022 is 72.9 for London, so the prices of rents London is on an average 27% less than the price of rents in New York.

    

   Ranking of Spanish and English cities for rents, from expensive (closest to London) to cheap:

   • London cost of renting is 72.9.
   • Bristol cost of renting is 39.21 and is 46% cheaper than London rents
   • Edinburgh cost of renting is 36.45 and is 50% cheaper than London rents
   • Manchester cost of renting is 34.13 and is 53% cheaper than London rents
   • Birmingham cost of renting is 32.49 and is 55% cheaper than London rents
   • Madrid cost of renting is 31.1 and is 57% cheaper than London rents
   • Barcelona cost of renting is 30.79 and is 58% cheaper than London rents
   • Leeds cost of renting is 29.71 and is 59% cheaper than London rents
   • Cardiff cost of renting is 29.18 and is 60% cheaper than London rents
   • Glasgow cost of renting is 28.41 and is 61% cheaper than London rents
   • Palma de Mallorca cost of renting is 27.34 and is 62% cheaper than London rents
   • Bilbao cost of renting is 26.53 and is 64% cheaper than London rents
   • Nottingham cost of renting is 26.15 and is 64% cheaper than London rents
   • Sheffield cost of renting is 26.11 and is 64% cheaper than London rents
   • Malaga cost of renting is 25.51 and is 65% cheaper than London rents
   • Liverpool cost of renting is 25.3 and is 65% cheaper than London rents
   • Leicester cost of renting is 24.15 and is 67% cheaper than London rents
   • Las Palmas cost of renting is 22.08 and is 70% cheaper than London rents
   • Valencia cost of renting is 21.84 and is 70% cheaper than London rents
   • Seville cost of renting is 20.55 and is 72% cheaper than London rents
   • Alicante cost of renting is 19.85 and is 73% cheaper than London rents
   • Tenerife cost of renting is 19.13 and is 74% cheaper than London rents
   • Zaragoza cost of renting is 18.24 and is 75% cheaper than London rents
   • Vigo cost of renting is 17.16 and is 76% cheaper than London rents
   • Granada cost of renting is 15.65 and is 79% cheaper than London rents
   • Murcia cost of renting is 15.65 and is 79% cheaper than London rents

    

   Interactive charts comparing rent levels for all the English and Spanish cities:

    

    

    

   Restaurants prices comparison of Spanish and English cities

    

   Restaurants Index is a comparison of prices of meals and drinks in restaurants and bars compared to NYC made by Numbeo. The Restaurants index level is 88.95 for London as of January 2022: Numbeo estimates that the price of restaurants in London is on an average 11% less than the price in New York.

    

   Ranking of Spanish and English cities for restaurants prices, from expensive (closest to London) to cheap:

   • London restaurants’ index is 88.95
   • Manchester restaurants’ index is 86.55 and is 3% cheaper than London restaurants’ prices
   • Liverpool restaurants’ index is 86.01 and is 3% cheaper than London restaurants’ prices
   • Bristol restaurants’ index is 83.5 and is 6% cheaper than London restaurants’ prices
   • Edinburgh restaurants’ index is 81.18 and is 9% cheaper than London restaurants’ prices
   • Cardiff restaurants’ index is 76.77 and is 14% cheaper than London restaurants’ prices
   • Glasgow restaurants’ index is 76.2 and is 14% cheaper than London restaurants’ prices
   • Leeds restaurants’ index is 75.93 and is 15% cheaper than London restaurants’ prices
   • Leicester restaurants’ index is 71.5 and is 20% cheaper than London restaurants’ prices
   • Nottingham restaurants’ index is 71.4 and is 20% cheaper than London restaurants’ prices
   • Birmingham restaurants’ index is 67.92 and is 24% cheaper than London restaurants’ prices
   • Sheffield restaurants’ index is 63.62 and is 28% cheaper than London restaurants’ prices
   • Bilbao restaurants’ index is 63.19 and is 29% cheaper than London restaurants’ prices
   • Barcelona restaurants’ index is 62.42 and is 30% cheaper than London restaurants’ prices
   • Madrid restaurants’ index is 62.32 and is 30% cheaper than London restaurants’ prices
   • Palma de Mallorca restaurants’ index is 59.64 and is 33% cheaper than London restaurants’ prices
   • Valencia restaurants’ index is 55.27 and is 38% cheaper than London restaurants’ prices
   • Zaragoza restaurants’ index is 54.95 and is 38% cheaper than London restaurants’ prices
   • Vigo restaurants’ index is 54.95 and is 38% cheaper than London restaurants’ prices
   • Tenerife restaurants’ index is 53.4 and is 40% cheaper than London restaurants’ prices
   • Alicante restaurants’ index is 52.07 and is 41% cheaper than London restaurants’ prices
   • Murcia restaurants’ index is 51.62 and is 42% cheaper than London restaurants’ prices
   • Malaga restaurants’ index is 51.32 and is 42% cheaper than London restaurants’ prices
   • Las Palmas restaurants’ index is 48.92 and is 45% cheaper than London restaurants’ prices
   • Seville restaurants’ index is 48.9 and is 45% cheaper than London restaurants’ prices
   • Granada restaurants’ index is 46.84 and is 47% cheaper than London restaurants’ prices

    

   Interactive chart comparing the different rent levels for all the English and Spanish cities:

    

    

    

   Groceries prices comparison of Spanish and English cities

    

   Groceries Index is an estimation of grocery prices in the city compared to New York City. If Groceries index is 62.16, as for London, Numbeo estimates that the price of rents in that city is on an average 38% less than the price in New York.

    

   Ranking of Spanish and English cities for Groceries costs, from expensive (closest to London) to cheap:

   • London Groceries prices index is 62.16
   • Nottingham Groceries prices index is 63.61 and is 2% more expensive than London Groceries’ prices
   • Edinburgh Groceries prices index is 58.16 and is 6% cheaper than London Groceries’ prices
   • Manchester Groceries prices index is 57.86 and is 7% cheaper than London Groceries’ prices
   • Bilbao Groceries prices index is 56.67 and is 9% cheaper than London Groceries’ prices
   • Bristol Groceries prices index is 56.03 and is 10% cheaper than London Groceries’ prices
   • Sheffield Groceries prices index is 55.87 and is 10% cheaper than London Groceries’ prices
   • Leeds Groceries prices index is 55.53 and is 11% cheaper than London Groceries’ prices
   • Birmingham Groceries prices index is 54.84 and is 12% cheaper than London Groceries’ prices
   • Liverpool Groceries prices index is 54.53 and is 12% cheaper than London Groceries’ prices
   • Cardiff Groceries prices index is 54.22 and is 13% cheaper than London Groceries’ prices
   • Glasgow Groceries prices index is 53.9 and is 13% cheaper than London Groceries’ prices
   • Leicester Groceries prices index is 50.85 and is 18% cheaper than London Groceries’ prices
   • Madrid Groceries prices index is 48.87 and is 21% cheaper than London Groceries’ prices
   • Seville Groceries prices index is 48.76 and is 22% cheaper than London Groceries’ prices
   • Barcelona Groceries prices index is 48.52 and is 22% cheaper than London Groceries’ prices
   • Las Palmas Groceries prices index is 48.07 and is 23% cheaper than London Groceries’ prices
   • Zaragoza Groceries prices index is 47.85 and is 23% cheaper than London Groceries’ prices
   • Palma de Mallorca Groceries prices index is 47.79 and is 23% cheaper than London Groceries’ prices
   • Valencia Groceries prices index is 44.43 and is 29% cheaper than London Groceries’ prices
   • Granada Groceries prices index is 43.71 and is 30% cheaper than London Groceries’ prices
   • Murcia Groceries prices index is 43.3 and is 30% cheaper than London Groceries’ prices
   • Malaga Groceries prices index is 43.07 and is 31% cheaper than London Groceries’ prices
   • Vigo Groceries prices index is 42.75 and is 31% cheaper than London Groceries’ prices
   • Alicante Groceries prices index is 42.39 and is 32% cheaper than London Groceries’ prices
   • Tenerife Groceries prices index is 42.17 and is 32% cheaper than London Groceries’ prices

    

   Interactive chart comparing the different Groceries costs for all the English and Spanish cities.

    

    

    

   Purchasing power comparison of Spanish and English cities

    

   Local Purchasing Power shows relative purchasing power in buying goods and services in a given city for the average wage in that city. If domestic purchasing power is 40, this means that the inhabitants of that city with the average salary can afford to buy on an average 60% fewer goods and services than New York City residents with an average salary.
   For more information about used weights (actual formula) please visit Numbeo Motivation and Methodology. So you got it, the best solutions are either to have a remote job, or to work outside Spain, or to have a good job in Spain or to retire in Spain but it is not to have a low paid job in Spain.

    

   Ranking of local purchasing power of Spanish and English cities, from high(closest to London) to low:

   • London index is 92
   • Cardiff Purchasing power index is 105.19 and is 14% higher than London Purchasing power
   • Glasgow Purchasing power index is 101.08 and is 9% higher than London Purchasing power
   • Leicester Purchasing power index is 94.48 and is 2% higher than London Purchasing power
   • Sheffield Purchasing power index is 94.35 and is 2% higher than London Purchasing power
   • Nottingham Purchasing power index is 93.99 and is 2% higher than London Purchasing power
   • Manchester Purchasing power index is 90.76 and is 2% lower than London Purchasing power
   • Liverpool Purchasing power index is 90.6 and is 2% lower than London Purchasing power
   • Bristol Purchasing power index is 89.33 and is 3% lower than London Purchasing power
   • Leeds Purchasing power index is 89.25 and is 3% lower than London Purchasing power
   • Edinburgh Purchasing power index is 89.16 and is 3% lower than London Purchasing power
   • Granada Purchasing power index is 87.46 and is 5% lower than London Purchasing power
   • Birmingham Purchasing power index is 86.12 and is 7% lower than London Purchasing power
   • Alicante Purchasing power index is 80.29 and is 13% lower than London Purchasing power
   • Murcia Purchasing power index is 77.45 and is 16% lower than London Purchasing power
   • Vigo Purchasing power index is 75.98 and is 18% lower than London Purchasing power
   • Madrid Purchasing power index is 75.06 and is 19% lower than London Purchasing power
   • Seville Purchasing power index is 71.73 and is 22% lower than London Purchasing power
   • Valencia Purchasing power index is 70.33 and is 24% lower than London Purchasing power
   • Barcelona Purchasing power index is 70.07 and is 24% lower than London Purchasing power
   • Zaragoza Purchasing power index is 69.42 and is 25% lower than London Purchasing power
   • Malaga Purchasing power index is 67.07 and is 27% lower than London Purchasing power
   • Bilbao Purchasing power index is 66.7 and is 28% lower than London Purchasing power
   • Tenerife Purchasing power index is 64.54 and is 30% lower than London Purchasing power
   • Palma de Mallorca Purchasing power index is 63.61 and is 31% lower than London Purchasing power
   • Las Palmas Purchasing power index is 55.22 and is 40% lower than London Purchasing power

    

   Interactive chart comparing the different purchasing power levels for all the English and Spanish cities.

    

    

6. What about the Spanish real estate market?

    

   The most expensive cities in Spain for real estate are

   
   End September 2021, Sorted by price, second column

   City / Region	Price	Yr Price Evolution	Qtr Price Evolution	Number of Transactions	Transaction Evolution
   Gipuzkoa	2 736 €	3,0%	-0,6%	7 171	15%
   Madrid (Comunidad de)	2 685 €	2,9%	0,9%	83 173	25%
   Balears (Illes)	2 496 €	4,8%	2,1%	14 322	15%
   País Vasco	2 421 €	3,3%	-0,4%	22 366	18%
   Barcelona	2 396 €	1,3%	-0,4%	60 555	19%
   Bizkaia	2 364 €	3,9%	0,0%	12 036	17%
   Cataluña	2 038 €	1,9%	-0,2%	93 862	24%
   Araba/Alava	1 975 €	2,8%	-1,7%	3 159	25%
   Málaga	1 924 €	7,6%	3,9%	32 109	25%
   Ceuta	1 798 €	-0,5%	0,1%	711	34%
   Ceuta y Melilla	1 738 €	0,1%	0,3%	1 464	47%
   Melilla	1 699 €	0,9%	0,6%	753	63%
   TOTAL NACIONAL	1 662 €	2,6%	0,8%	611 093	28%

   with the National Spanish Average: 1,662 €/m²

   Read more and get the last updated prices on the Spanish property market.

    

   

   Ultimate guide to buying your property in Spain

    

   The cheapest cities in Spain for real estate are

   End September 2021, Sorted by price, second column

   City / Region	Price	Yr Price Evolution	Qtr Price Evolution	Number of Transactions	Transaction Evolution
   Ciudad Real	712 €	-1,0%	0,1%	5 446	43%
   Teruel	752 €	2,2%	-0,8%	1 733	30%
   Cuenca	766 €	-1,1%	-2,6%	2 346	48%
   Jaén	786 €	1,6%	1,1%	6 400	31%
   Zamora	792 €	-3,9%	-1,4%	1 871	54%
   Cáceres	837 €	-0,3%	1,7%	3 823	25%
   Ávila	844 €	4,5%	3,3%	2 516	35%
   Extremadura	857 €	1,4%	1,5%	10 666	37%
   León	860 €	-0,9%	2,7%	4 657	33%
   Toledo	868 €	3,5%	2,0%	10 775	39%
   Badajoz	871 €	2,7%	1,3%	6 843	45%
   Lugo	881 €	3,1%	0,5%	3 601	57%
   Castilla-La Mancha	887 €	1,3%	0,5%	27 431	40%
   Ourense	891 €	-2,7%	-0,1%	2 451	42%
   Albacete	904 €	0,2%	-1,8%	3 919	39%
   Soria	914 €	-2,3%	3,7%	1 311	53%
   Palencia	930 €	-1,4%	2,9%	1 956	48%
   Segovia	985 €	-0,1%	2,3%	2 418	52%
   Murcia (Región de)	986 €	2,9%	-1,4%	22 074	32%
   Lleida	995 €	0,8%	-3,2%	5 661	45%

   with the National Spanish Average: 1.662 €/m²

   Read more on and get the last updated prices on the Spanish property market.

    

7. Why should you relocate to Spain?

   you earn on average 69 to 85% of what you would earn if you lived in New York but at the same time, the cost of life plus rent index is between 33 to 47%. So, that’s one of the main reasons why Spain is one of the best countries in the world for relocating and for working remotely?

   Discover all our detailed reviews of the beautiful Spanish Costas.

   

   Find all our best Spanish Costas infographics: Costa Brava, Costa del Sol, Costa Blanca, Costa Barcelona, Balearic Islands, Canary Islands,…

8. Spain is a nice place to retire or enjoy holidays

   If in addition to that, you take into account that Spain is the healthiest country in the world to live in as we wrote in our last article and Spain has so many experiences to enjoy, that’s why it is the number one holiday destination in Europe.

    

   

   Why should you relocate to Spain?

    

9. How do we help you?

   As you may have read on our homepage howtobuyinspain.com, Buying a property in Spain is cheap and looks easy, but there are some pitfalls. That is why we have built over the years a network of 100+ local partners dedicated to assisting you: Lawyers, Mortgage brokers (financing and refinancing at lower rates), Insurance brokers, Tax advisors, Surveyors, Property hunters, Renovation, NIE specialists… So don’t miss our homepage howtobuyinspain.com, it is where you should continue for your property search in Spain.

   

   Further reading

   10 reasons why you should buy a property in Spain.

   Which are the cheapest cities to live in Spain?

    

10. Don’t miss our downloadable charts

    Same charts as in the article but in “image” format.

FAQ Is it cheaper to live in Spain than UK?

Looking for an expert in Spain? Ask us directly!

Stéphane

Senior analyst and strategist at HTBIS

Check the full HTBIS team here

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]]> https://howtobuyinspain.com/en/buy-property-in-spain/cost-of-living-in-spain-vs-uk/feed/ 0 10 Reasons for buying a property in Spain Buying Spanish property guide The Spanish Costas Infographics maps Find all our best Spanish Costas infographics: Costa Brava, Costa del Sol, Costa Blanca, Costa Barcelona, Balearic Islands, Canary Islands,... Relocate to Spain Find your real estate partner in Spain Cost of life comparison English vs Spanish cities Cost of living in London vs Spanish cities Cost of life Spain vs UK Cost of living for worldwide cities Cost of living for the top 20 countries in the world (2) Purchasing power comparison for English vs Spanish cities Is the cost of Groceries in English cities higher than in Spanish cities_ (1) Are restaurants more expensive in English vs Spanish cities Cost of renting in English vs Spanish cities Stéphane co-founder of HTBIS https://howtobuyinspain.com/en/buy-property-in-spain/spanish-mortgage-rates/spanish-mortgage-calculator/ https://howtobuyinspain.com/en/buy-property-in-spain/spanish-mortgage-rates/spanish-mortgage-calculator/#respond Fri, 01 Jan 2021 07:34:16 +0000 https://howtobuyinspain.com/?p=8253   Click on any flag to get an automatic translation from Google translate. Some news could have an original translation here: News Nouvelles Nieuws Noticias Nachrichten   Let’s check what are your Mortgage costs for your property   In order to help you with your purchase in Spain, we added

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Click on any flag to get an automatic translation from Google translate. Some news could have an original translation here: News Nouvelles Nieuws Noticias Nachrichten

 

Let’s check what are your Mortgage costs for your property

 

In order to help you with your purchase in Spain, we added a Mortgage pricer to help you check your financial power.

It will give you your monthly payments for your mortgage, a table of all your monthly payments, a chart of the evolution of your monthly payments…

Of course, you may adjust the calculations with your own data, you can reverse as well some calculation… Don’t hesitate to use it!

Before we jump to a first example, we thought it would be useful to give you a summary table of your fixed monthly payments for your mortgage depending on:

1. the interest rates (fixed rates of course)
2. the length of the mortgage

 

Summary table of your monthly reimbursements for a Mortgage of €100.000

€100,000	10 Year	12 Year	14 Year	16 Year	18 Year	20 Year
Rates	120 months	144 months	168 months	192 months	216 months	240 months
1.50%	-€898	-€759	-€660	-€586	-€529	-€483
2.00%	-€920	-€782	-€683	-€609	-€552	-€506
2.50%	-€943	-€805	-€706	-€632	-€575	-€530
3.00%	-€966	-€828	-€730	-€656	-€600	-€555
3.50%	-€989	-€851	-€754	-€681	-€625	-€580
4.00%	-€1,012	-€876	-€778	-€706	-€650	-€606

Starting from this table and if you are in a hurry, it is easy to estimate any mortgage repayment for any amount and any period between 10 and 20 years, adjust accordingly the numbers.

 

Get the best mortgage rate in Spain

 

If you want to go into the details, here is a calculation example we did for a €100.000 mortgage:

As you will see, if you take a mortgage of €100.000 on 10-year with a rate of 3.5%, your monthly payment to reimburse your mortgage will be €989.

 

CLICK either “Calc” or “Payment Schedule” or “Charts” at the bottom of the pricer.

 

	
	







	

	
	


		
		

		

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Mortgage Loan Calculator		


		

		

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Mortgage Calculator Help
			
You can calculate the mortgage loan amount from the price of the real estate by providing the down payment percentage.
			
If you know the mortgage amount you can afford and the cash down payment percentage required, you can calculate the affordable real estate price.
			
Or if you know the price of the real estate and the loan amout and enter "0" for the down payment percentage, the calculator will calculate the down payment amount and percentage.
			
Points, Annual Property Taxes, Annual Insurance and Private Mortgage Ins. (PMI) are all optional. If you enter values, the periodic portion of each will be calculated and shown on the schedule. Property taxes and insurance are combined under escrow.
			
If a borrower does not have cash to cover at least 20% of the purchase price, some lenders will require the borrower to purchase private mortgage insurance (PMI) to cover against a possible default. Premiums are typically 0.5% to 2.0% of the original loan amount. The borrower can drop the insurance coverage once the mortgage balance is less than 80% of the original purchase price. The calculator handles this automatically. (There may be other conditions as well under which the lender will no longer require PMI. One such case might be apprciation of the real estate.)
			
Points are charges that are normally due at closing. Borrowers (normally only in USA) may select to pay a lender "points" up front in exchange for a lower interest rate. Points are expressed in percent and are calculated on the amount borrowed. 3 points on a $200,000 mortgage equals $6,000. If the user enters points, this calculator includes their value in the summary and as part of the total payment at loan origination on the payment schedule.
			
The term (duration) of the loan is expressed as a number of months.
			

				
 60 months =  5 years
				
120 months = 10 years
				
180 months = 15 years
				
240 months = 20 years
				
360 months = 30 years
			
			
Need more options including the ability to solve for other unknowns, change payment / compounding frequency and the ability to print an amortization schedule? Please visit, https://AccurateCalculators.com/mortgage-calculator
		
	











	
	

		

			

				

					
Currency and Date Conventions
					
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									Albania    (Lek)    Lek12,345,678.99
									Algeria    (Algerian Dinar)    DZD12,345,678.99
									Argentina    (Argentine Peso)    $12.345.678,99
									Armenia    (Armenian Dram)    AMD12,345,678.99
									Australia    (Australian Dollar)    $12,345,678.99
									Austria    (Euro)    €12.345.678,99
									Azerbaijan    (Manat)    ₼12,345,678.99
									Bahrain    (Bahraini Dinar)    BHD12,345,678.994
									Belarus    (Ruble)    Br12,345,678.99
									Belgium    (Euro)    12 345 678,99€
									Belgium    (Euro)    €12.345.678,99
									Belize    (Belize Dollar)    BZ$12,345,678.99
									Bolivia    (Boliviano)    $b12.345.678,99
									 Bosnia/Herzegovina    (Mark)    12.345.678,99KM
									Brazil    (Brazilian Real)    R$12.345.678,99
									Brunei    (Brunei Dollar)    $12,345,678.99
									Bulgaria    (Bulgarian Lev)    12345678,99лв
									Canada    (Canadian Dollar)    $12,345,678.99
									Canada    (Canadian Dollar)    12 345 678,99$
									Chile    (Chilean Peso)    $12.345.679
									China    (Yuan Renminbi)    ¥12,345,678.99
									Colombia    (Colombian Peso)    $12.345.678,99
									Costa Rica    (Colon)    ₡12 345 678,99
									Croatia    (Kuna)    12.345.678,99kn
									Czechia    (Czech Koruna)    12 345 678,99Kč
									Denmark    (Danish Krone)    12.345.678,99kr
									Dominican Republic    (DR Peso)    RD$1,234.99
									Ecuador    (US Dollar)    $12.345.678,99
									Egypt    (Egyptian Pound)    £12,345,678.99
									El Salvador    (El Salvador Colon)    $12,345,678.99
									Estonia    (Euro)    12 345 678,99€
									Faroe Islands    (Danish Krone)    kr12,345,678.99
									Finland    (Euro)    12 345 678,99€
									France    (Euro)    12 345 678,99€
									Georgia    (Lari)    GEL12,345,678.99
									Germany    (Euro)    12.345.678,99€
									Greece    (Euro)    12.345.678,99€
									Guatemala    (Quetzal)    Q12,345,678.99
									Honduras    (Lempira)    L12,345,678.99
									Hong Kong    (HK Dollar)    HK$12,345,678.99
									Hungary    (Forint)    12 345 678,99Ft
									Iceland    (Iceland Krona)    kr12,345,679
									India    (Indian Rupee)    ₹1,23,45,678.99
									Indonesia    (Rupiah)    Rp12.345.678,99
									Iran    (Iranian Rial)    ﷼12,345,678.99
									Iraq    (Iraqi Dinar)    IQD12,345,678.994
									Ireland    (Euro)    €12,345,678.99
									Israel    (Sheqel)    ₪12,345,678.99
									Italy    (Euro)    12.345.678,99€
									Jamaica    (Jamaican Dollar)    J$12,345,678.99
									Japan    (Yen)    ¥12,345,679
									Jordan    (Jordanian Dinar)    JOD12,345,678.994
									Kazakhstan    (Tenge)    лв12,345,678.99
									Kenya    (Kenyan Shilling)    KES12,345,678.99
									Korea (South)    (Won)    ₩12,345,679
									Kuwait    (Kuwaiti Dinar)    KWD12,345,678.994
									Kyrgyzstan    (Som)    лв12,345,678.99
									Latvia    (Euro)    12 345 678,99€
									Lebanon    (Lebanese Pound)    £12,345,678.99
									Libya    (Libyan Dinar)    LYD12,345,678.994
									Liechtenstein    (Swiss Franc)    CHF12’345’678.99
									Lithuania    (Euro)    12 345 678,99€
									Luxembourg    (Euro)    12.345.678,99€
									Luxembourg    (Euro)    12.345.678,99€
									Macao    (Pataca)    MOP12,345,678.99
									Malaysia    (Ringgit)    RM12,345,678.99
									Maldives    (Rufiyaa)    MVR12,345,678.99
									Malta    (Euro)    €12,345,678.99
									Mexico    (Mexican Peso)    $12,345,678.99
									Monaco    (Euro)    12 345 678,99€
									Mongolia    (Tugrik)    ₮12,345,678.99
									Morocco    (Dirham)    MAD12,345,678.99
									Netherlands    (Euro)    €12.345.678,99
									New Zealand    (NZ Dollar)    $12,345,678.99
									Nicaragua    (Cordoba Oro)    C$12,345,678.99
									
									Nigeria    (Naira)    ₦12,345,678.99
									Norway    (Norwegian Krone)    kr12 345 678,99
									Norway    (Norwegian Krone)    kr12,345,678.99
									Oman    (Rial Omani)    ﷼12,345,678.994
									Pakistan    (Pakistan Rupee)    ₨12,345,678.99
									Panama    (Balboa)    B/.12,345,678.99
									Paraguay    (Guarani)    Gs12.345.679
									Peru    (Sol)    S/.12,345,678.99
									Philippines    (Philippine Peso)    ₱12,345,678.99
									Poland    (Zloty)    12 345 678,99zł
									Portugal    (Euro)    12 345 678,99€
									Qatar    (Qatari Rial)    ﷼12,345,678.99
									Romania    (Romanian Leu)    12.345.678,99lei
									Russian Federation    (Ruble)    12 345 678,99₽
									Saudi Arabia    (Saudi Riyal)    ﷼12,345,678.99
									Singapore    (Singapore Dollar)    $12,345,678.99
									Slovakia    (Euro)    12 345 678,99€
									Slovenia    (Euro)    12.345.678,99€
									South Africa    (Rand)    R12,345,678.99
									South Africa    (Rand)    R12 345 678,99
									Spain    (Euro)    12.345.678,99€
									Sweden    (Swedish Krona)    12 345 678,99kr
									Switzerland    (Swiss Franc)    CHF12’345’678.99
									Switzerland    (Swiss Franc)    12 345 678.99CHF
									Switzerland    (Swiss Franc)    CHF12’345’678.99
									Syrian Arab Republic    (SYP)    SYP 12,345,679
									Taiwan    (Taiwan Dollar)    NT$12,345,678.99
									Thailand    (Baht)    ฿12,345,678.99
									Trinidad & Tobago    (T/T Dollar)    TT$1,234.99
									Tunisia    (Tunisian Dinar)    TND12,345,678.994
									Turkey    (Turkish Lira)    ₺12.345.678,99
									Ukraine    (Hryvnia)    12 345 678,99₴
									United Arab Emirates    (UAE Dirham)    AED12,345,678.99
									United Kingdom    (GBP)    £12,345,678.99
									United States    (US Dollar)    $12,345,678.99
									Uruguay    (Peso Uruguayo)    $U12.345.678,99
									Uzbekistan    (Uzbekistan Sum)    лв12,345,678.99
									Venezuela    (Bolívar Soberano)    VES12.345.678,99
									Viet Nam    (Dong)    12.345.679₫
									Yemen    (Yemeni Rial)    ﷼12,345,678.99
									Zimbabwe    (ZWL)    ZWL12,345,678.99

								
							



							

								
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Here is the data we took for this mortgage:

• Down Payment: in per cent of the property cost, here we took 50%: this means you are bringing €100.000 of your own money
• Amount of Loan: €100.000, it is calculated but as you guessed, in this case, it is the Property cost €200.000 minus the Down Payment €100.000
• Number of Payments? (#): is the number of months you intend to take to reimburse your mortgage, #120
• Annual Interest Rate?: This is the rate we took: 3.5% for a 10 year mortgage. Check the current mortgage financing conditions in our paper: “The best mortgage rates in Spain in 2020“. Don’t forget that rates are higher for foreigners.
• Points?: This is the upfront charge for the mortgage, we took 1%
• Annual Property Taxes?: We took €300
• Annual Insurance?: We took €150
• Private Mortgage Ins. (PMI)?: We took 0% (this is mostly done in the US)
• Payment Method?: You can choose if you pay at the start of at the end of the month, we took the latest.
• Monthly Payment Amount: The monthly amount you will pay to reimburse the mortgage €988.86
• Down Payment Amount: The amount you will pay yourself to buy the property.€100.000
• Total Interest: The total amount you will reimburse during the life of the mortgage. €18.663.19

 

In your Schedule of payments, you will find all the information with some details as:

• PMI — private mortgage insurance. Could be required if your loan to value (LTV) is more than 80%. That is, your down payment frequently needs to be 20% or more to avoid PMI.
• Property Taxes — are included in the escrow column on the schedule. Please be sure to enter an annual amount in the calculator.
• Casualty Insurance — is also included in the escrow column on the mortgage schedule. Again, enter an annual amount.
• Points — calculated on the loan amount, they are reported in the first row of the schedule.

All the above are optional. That is, you may set them to 0.

 

You can run this simulator to know your monthly payments:

1. Click clear and enter values for:
   • Loan Amount
   • Number of Payments
   • Annual Interest Rate
2. Leave “Payment Amount (P & I only)” set to 0.
3. Click either “Calc” or “Payment Schedule” or “Charts” to see the monthly evolution of your mortgage or “Clear” to input your own data

 

You can use this calculator to answer such questions as:

• How much mortgage can I afford?

Most of the time, banks will give you a mortgage with a monthly reimbursement of maximum 33% of your net income, check our earlier paper “Your definitive guide to your Spanish mortgage” for more on that.

• What is the mortgage payment?

The pricer allows you to have a detailed payment schedule.

• How much money do I need to buy a house?

In general, a quick guess is at least 50% of the value of the property, check the explanation of the calculation for the down payment.

• What is the down payment on a house?

Most of the time, the bank will require a down payment of 30% and in addition to that, you will have to pay the taxes and some costs, take another 15% and eventually some works & refurbishment. So, all in all, you will have to pay at least 45% (if no works and no refurbishment)… a little more if repair works and refurbishment. For more on that, read our paper on “Your definitive guide to your Spanish mortgage”

 

Do you want a mortgage quote in Spain? We have a very strong partnership with one of the biggest Mortgage broker in Spain. Click on this picture and read more/fill the form for a quote.

 

 

For more information on the mortgage pricer, you could want to read the comments from the developer.

 

Here is our FAQ on Spanish mortgage calulator

What do you need for a Spanish mortgage?

It is very easy to get a mortgage in Spain. What are the documents requested?

1.Your Passport / ID for all the applicants

2. Your NIE: “Número de identificación fiscal para extranjeros” or Foreign Resident’s Tax Number.

3. Last 3 paychecks with the contract of employment Proof of incomes/Contract

4. A view on your assets and debts

5. If it’s a new building: the “Deed for new building”

6. The private sale-purchase contract

7. If you have a mortgage at home, land registry information on the property and the mortgage

8. If pensioners: Official proof of annual income.

Read our detailed article for more on that

How much deposit do I need for a Spanish mortgage?

For your second residence and as a non-fiscal resident, a bank will finance no more than 70 % of the value of your property. If you include 15% of costs, this means that you would need to invest at least 45% of the property value with your own pocket.

How long does it take to get a Spanish mortgage?

About 6 weeks. Although, we have to say that since the new law got into effect in August 2019, there is a new 'cooling-off' period of 10 days, so this increases a little bit the timing for getting a mortgage.

What is the interest rate in Spain?

As of October 2019, the average mortgage has an interest rate of 2.50% (vs 2.51% last month). The lowest rate ever is the current rate 2.50%! Read our dedicated article on that subject with the last available data.

 

Our other resources on that subject

• Your definitive guide to your Spanish mortgage
• The best mortgage rates in Spain in 2021

 

Looking for a lawyer, fiscal expert, architect, property hunter,… or any expert in Spain? Ask us directly!

Stéphane

Senior Analyst and Strategist at HTBIS

Check the full team of HTBIS here

 

The post Your ultimate Spanish mortgage calculator: What is the cost of your Spanish Mortgage? appeared first on How to buy in Spain.

]]> https://howtobuyinspain.com/en/buy-property-in-spain/spanish-mortgage-rates/spanish-mortgage-calculator/feed/ 0 Get the best mortgage rate <em><a href="https://howtobuyinspain.com/en/home/?lang=enen/mortgage-in-spanish/" target="_blank" rel="noopener noreferrer">Get the best mortgage rate in Spain</a></em> Mortgage in Spain Stéphane co-founder of HTBIS https://howtobuyinspain.com/en/spanish-economy/impacts-of-coronavirus-on-spanish-economy/ https://howtobuyinspain.com/en/spanish-economy/impacts-of-coronavirus-on-spanish-economy/#respond Mon, 04 May 2020 16:35:46 +0000 https://howtobuyinspain.com/?p=19645 Click on any flag to get an automatic translation from Google translate. Some news could have an original translation here: News Nouvelles Nieuws Noticias Nachrichten   What are the impacts of Coronavirus on the Spanish Economy? This article is the third one of our dedicated reports on the Coronavirus, here

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The post What are the impacts of Coronavirus on the Spanish Economy?  appeared first on How to buy in Spain.

]]> Click on any flag to get an automatic translation from Google translate. Some news could have an original translation here: News Nouvelles Nieuws Noticias Nachrichten

 

What are the impacts of Coronavirus on the Spanish Economy?

This article is the third one of our dedicated reports on the Coronavirus, here is our introduction paper: What are the impacts of Coronavirus on the Spanish real estate?

The current situation

We all know that economic activity has been stopped for about 2 months nearly everywhere in Europe. Spain was one of the first countries in Europe to be impacted by the virus, along with Italy. The government took decisive action and the lockdown started on the 12th of March, as you can see on this worldwide comparison table from the BBC. The economy is not in good shape as you can see from the “INE” press release (the Spanish Statistic office): the GDP evolution for the 1st quarter of 2020: -5,2%.

Lockdown easing

As we speak, in early May, the Spanish government looks ready to ease the “stay-at-home” policy, starting mid-May and doesn’t want to release specific dates as stated in El Pais on the 28th of April. We already know that lockdown easing will be organised in four different phases:

 

Phase 0 or preparation of de-climbing

Will allow some sports activities, some outside walks, and some economic activities. This just started on the 2nd of May: After 7 weeks of lockdown, Spaniards can finally exercise outdoors

 

Phase I or initial

partial opening of activities will be further allowed if the epidemiologic curve remains steady :

• economic activities such as the opening of small trade by appointment or counter services
• restaurants and cafeterias with delivery take-away will be allowed to open
• agricultural activities will be permitted
• sports activities (extension of previously lifted measures)
• tourist accommodations without the use of common areas and with restrictions will be permitted for use

 

Phase II or intermediate

The partial opening of activities restricted in Phase I will be allowed with capacity limitations:

• restaurants with table service and terraces can open but only up to 30% capacity

• common areas of tourist accommodation will open
• Large shopping centres will open with capacity restrictions

 

Phase III or advanced

All activities are planned to be allowed, but always maintaining appropriate safety and distance measures. Among the measures at this stage, the opening up of retail trade that would not have been open in advance, with limited capacity, bars and clubs with very limited capacity, museums and cultural shows, also with limited attendance, etc.

New normality

Social and economic restrictions end, but epidemiologic vigilance is maintained, strengthening health system capacities remains important, and self-protection of citizenship.

Follow this link to read the full pdf in Spanish on how the easing will be organized in Spain.

Here is the official website of the Spanish government for any matter related to the Coronavirus.

 

 

Bank of Spain GDP Expectations for 2020

The bank of Spain has run some simulations to check the impact of Coronavirus on the GDP: currently, the bank of Spain thinks that the GDP will decrease between 6.6% to 13.6% in 2020. In our mind, this looks conservative as 2 months of inactivity out of 12 months in a year already means a loss of ⅙… which is 16,6% of a full year…

While at the same time, unemployment will rise in Spain from the current 14,6% level.

Spanish deficit will rise as well as the state supports the economy and increases the current level of debt to GDP which stands at 95.5% as of the end of 2018. Last but not least, consumer and business confidence should take a hit which will not help the economy short term.

Travel Ban and Tourism

Tourism in Spain represents 15% of the Spanish GDP or €178 bn in 2018. Spain is the second most touristic destination in the world, with 84m tourists per year. With the travel ban, it’s not difficult to understand that the travel industry: hotels, restaurants, Airbnb and the many suppliers working to support them, will be impacted. European governments will review if borders and travel will be reopened for tourists in the summer but, as of today, nothing is sure.

Recovery shape?

A very important question is: What will the recovery shape look like?

A lot of economists tell us that the recovery will be quick, or the “V shape” because central banks are massively supporting the economy. In fact, Economists predict a V Shape rebound 70% of the time after recessions but are wrong most of the time. We doubt that the full recovery will come fast, as the boss of the Federal Reserve states. Keep in mind: ⅔ of the economy is driven by consumers, and consumers are suffering. ⅔ of the economy is carried by small businesses, which are also suffering. We were surprised to read that 40% of rental payments in April couldn’t be paid by some Americans and the number was even higher for commercial properties. At the same time, unemployment is exploding around the world.

 

The Spanish housing market post-covid-19

 

Here are a few interesting questions we think:

• Will travel resume as before? Airlines will have a very difficult time and people will travel less
• Will corporations rehire 100% of their personnel?
• Will economic activity resume as before?

• Will social behaviour resume as before?
• Will outsourcing to developing countries resume as before?

We tend to answer “No” to most of these questions. We think that the economy will suffer big headwinds, that Airlines won’t be in business as usual before anytime soon… and that the crisis could expand with a domino effect. Have a look at the insights of one of the best investors over the years published in the New York Times: Warren Buffett’s Optimistic? Pessimistic? No, Realistic

 

As a conclusion, the economic situation will be back to normal at a slower speed, which means fewer transactions and lower prices in general, as well as more opportunities for the buyers.

 

Don’t neglect the basic recommendations to keep yourself and others safe:

• maintaining a social distance of 2 m,

• regular hand washing,

• cover your mouth when you cough or sneeze,

• avoid touching your face after touching hard surfaces where the virus can live.

 

Looking for a mortgage or a local expert in Alicante, Malaga, Valencia, Madrid, Barcelona,…? Ask us directly!

Stéphane

Senior analyst and strategist at HTBIS

Check the full HTBIS team here

The post What are the impacts of Coronavirus on the Spanish Economy?  appeared first on How to buy in Spain.

]]> https://howtobuyinspain.com/en/spanish-economy/impacts-of-coronavirus-on-spanish-economy/feed/ 0 coronavirus-stay at home stock-exchange-economy beaches The Spanish Housing Market post-Covid-19 Stéphane co-founder of HTBIS https://howtobuyinspain.com/en/buy-property-in-spain/effects-of-coronavirus-on-people/ https://howtobuyinspain.com/en/buy-property-in-spain/effects-of-coronavirus-on-people/#respond Mon, 04 May 2020 16:09:17 +0000 https://howtobuyinspain.com/?p=19635 Click on any flag to get an automatic translation from Google translate. Some news could have an original translation here: News Nouvelles Nieuws Noticias Nachrichten   What are the effects of Coronavirus on people? This article is the second one of our dedicated reports on the Coronavirus, here is our

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What are the effects of Coronavirus on people?

This article is the second one of our dedicated reports on the Coronavirus, here is our introduction paper: What are the impacts of Coronavirus on the Spanish real estate?

First, let’s have a look at the Covid-19 illness itself

 

For a lot of people, at least those living outside of Asia, Severe Acute Respiratory Syndrome Viruses, SARS Viruses, are a first, therefore it has a huge impact on everyone.

The scientific community is still learning about it, and because of its ability to spread from people who don’t appear to be ill, the virus may be harder to control. People may be at their most infectious before symptoms appear.

 

The pandemic creates a lot of uncertainties:

• No vaccine as of today. The time to develop and produce a vaccine can range from 9 months, to 5 years.

• The coronavirus pandemic is likely to last as long as two years and won’t be controlled until about two-thirds of the world’s population is immune as said by a group of experts from the Center for Infectious Disease Research and Policy at the University of Minnesota.
• Potentially curative therapies are beginning to appear: Remdesivir of Gilead.
• It is unknown whether or not you are immune once you have had the virus.
• The long-term health effects on survivors are unknown.

 

The Spanish housing market post-covid-19

 

At the same time, we learned some sure things:

• Covid-19 is highly contagious, spreading across populations in days.
• It’s deadly, but we are yet to determine a concrete fatality rate due to a lack of testing and surveillance.
• According to the American health organisation, CDC, people with the following conditions could be more at risk for poor outcomes: People aged 65 years and older, people with Asthma, Chronic lung disease, Diabetes, Serious heart conditions, Chronic kidney disease and being treated with dialysis, and with severe obesity. People in nursing homes or long-term care facilities, immunocompromised individuals, and people with Liver disease.

So, unfortunately, Coronavirus exacerbates difficulties for vulnerable individuals even more, with their risks being much greater than younger, or healthier individuals without other comorbidities.

 

 

Second, the impacts of the Shelter-In-Place orders

The first impact was economical:

people with little financial means are highly exposed and the Spanish economy was stopped for nearly everybody for two full months.

The second impact was practical:

people had to stay and live where they were with their relatives:

• No possibility to go outside except for necessary shopping
• This meant living in a place with all household members 24/7. Many Spanish Children couldn’t exit the buildings for 7 weeks, until Sunday the 26th of April.
• No possibility to visit/help relatives living elsewhere
• Living in a place foreseen for sleeping and eating but not for other activities: many residential units are too small, without enough light, posing more difficulties for working from home…
• No social contacts (inside or outside)

 

Depending on the length of the Shelter-In-Place orders, a lot of people suffered many indirect (psychological) impacts of this.

Last but not least, social distancing and wearing masks outside have greater impacts on people’s daily lives.

We will come back to that as those will impact the real estate market as people will change their criteria for their ideal properties.

 

Don’t neglect the basic recommendations to keep yourself and others safe:

• maintaining a social distance of 2 m,

• regular hand washing,

• cover your mouth when you cough or sneeze,

• avoid touching your face after touching hard surfaces where the virus can live.

 

Looking for a mortgage or a local expert in Alicante, Malaga, Valencia, Madrid, Barcelona,…? Ask us directly!

Stéphane

Senior analyst and strategist at HTBIS

Check the full HTBIS team here

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]]> https://howtobuyinspain.com/en/buy-property-in-spain/effects-of-coronavirus-on-people/feed/ 0 The Spanish Housing Market post-Covid-19 coronavirus coronavirus-stay at home Stéphane co-founder of HTBIS https://howtobuyinspain.com/en/spanish-economy/your-7-positive-life-changes-after-the-coronavirus/ https://howtobuyinspain.com/en/spanish-economy/your-7-positive-life-changes-after-the-coronavirus/#respond Tue, 07 Apr 2020 19:07:26 +0000 https://howtobuyinspain.com/?p=19585 Click on any flag to get an automatic translation from Google translate. Some news could have an original translation here: News Nouvelles Nieuws Noticias Nachrichten   Your 7 positive life changes after the Coronavirus   “We have two lives, and the second begins when we realize we only have one.”

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Your 7 positive life changes after the Coronavirus

 

“We have two lives, and the second begins when we realize we only have one.”

Confucius

 

Before beginning this positive article, we would like to give our deepest sympathy and support to Covid-19 victims and their families all around the world. We know that it is a tragic situation for many people: Thousands of people are dying and even more are in pain, suffering severe health issues, and nearly all of us can already see the socioeconomic effects of this virus. It is a difficult situation we are facing.

 

How will our lives change for the better after the Coronavirus pandemic?

 

After a big threat like the Coronavirus, everybody in the world understands that there is now a probability that we could die… With this article, we want to take a moment to breathe and write about the positive effects that will emerge from this pandemic.

 

Fight or flight?

When a human being is confronted with a threat, their brain makes a decision within seconds: fight or flight. Have a look at this very interesting article about How the brain responds to threats and read Daniel Kahneman’s book on the same subject: “Thinking fast and slow”.

 

At last, some free time

With nearly 50 percent of the world currently in isolation comes the added benefit of more free time. All of the sudden, we have all of this newly found free time available, and we must acknowledge that we are not used to the privilege of spending so much time with our spouses and children.

 

Before proceeding with our article, let’s stop and try to answer two very important questions: What are the basic human needs and what makes us happy?

 

What are the basic Human Being needs?

This is important to help us better understand what is “essential” for each of us. The work of psychologist Abraham Maslow Maslow’s Hierarchy of Needs can give us very useful insights about what we all need. Maslow splits the basic human needs into two categories:

• Deficiency needs which are the basic needs for the daily life of an individual.
• Growth needs which arise as a desire to grow as an individual.

According to Maslow’s original theory, a person has to fulfil his deficiency needs before he can move on to fulfilling his growth needs.

 

The four deficiency or “basic” needs

1. Survival needs: biological or physiological – air, food, drinks, shelter, warmth, sex, sleep, etc.
2. Safety needs: protection in four domains, security, law and order, stability, freedom from fear.
3. Love and belongingness needs: friendship, intimacy, trust, acceptance, and giving and receiving love and affection. Affiliation, being part of a group (family, friends, work).

“People deprived at this level seem bored and joyless, even if they are doing well at their chosen tasks. They have feelings of loneliness, pain, sadness, separation, and unworthiness.”

4. Esteem needs: which Maslow classified into two categories: (i) esteem for oneself (dignity, achievement, mastery, independence) and (ii) the desire for reputation or respect from others (e.g. status, prestige).

If those four “basic” or “deficiency needs” are being met, a new one is likely to develop: the need for self-fulfilment. The need to develop on all aspects – physical, social, emotional, and spiritual. Among the characteristics of self-fulfilled people is awareness of living, completeness, joyfulness, unforgettable moments or periods of joy, unity, and understanding.

 

The four “growth” needs

5. Cognitive needs: knowledge and understanding, curiosity, exploration, need for meaning, and predictability.
6. Aesthetic needs: appreciation and search for beauty, balance, form, etc.
7. Self-actualization needs: realizing personal potential, self-fulfilment, seeking personal growth, and peak experiences. A desire “to become everything one is capable of becoming”.
8. Transcendence needs: a person is motivated by values that transcend beyond the personal self (e.g. mystical experiences and certain experiences with nature, aesthetic experiences, sexual experiences, service to others, the pursuit of science, religious faith, etc.).

 

Why are people happy?

According to the article: “What is happiness?” from PositivePsycology.com, happiness has two different meanings:

• more pleasure and less pain
• the pursuit and attainment of life purpose

 

What do you need to be happy?

1. Sufficient income
2. Labour market status
3. Physical health
4. Family
5. Social relationships
6. Moral values
7. Experience of positive emotions

 

 

Let’s have a look at the long-lasting positive effects that the Coronavirus will have on us.

 

The first positive, indirect effect from Coronavirus will be without doubt: You have the opportunity to start from the beginning.

 

1. Let’s go back to “THE” essential:

• Yourself, because you are at the centre of your life: whatever your pursuit is, it’s your life.

Your life is a series of choices that you make by yourself: Are you making those choices? Where do you want to live? How do you want to live? You can read further on this interesting subject here: Life is full of choices, here is how to master it and on the same subject, keep the child in you that believes anything is possible as long as you try, as it is wonderfully written in “The Alchemist” by Paolo Coelho.

 

How to take good care of yourself? Here are a few ideas from the non-profit organization “Mental Health America”:

1.Work Towards Your Goals:

• • • • • • Focus on your strengths: Time to improve your knowledge? Read books, tutorials, Massive Open Online Courses (MOOC),…
          • Improve your problem solving skills.
          • Focus on the future instead of dwelling on the past.
          • Focus on your life: it could be a nice opportunity to resolve any issues of your wounded inner child. Any child has basic needs to be fulfilled by his parents. Those unfulfilled needs often result in slower development and global functioning, and hence a less satisfied adulthood.

 

2.Take care of yourself:

• • • • • Live Healthily, eat healthy foods, get enough sleep, exercise regularly, and avoid drugs and alcohol. Manage stress and go for regular medical check-ups. Time to improve your health? eating habits, sports, nature, -… and yes, less pollution, so enjoy it! We should not stop exercising because the gyms are locked down! Here are a few workout apps offering free training exercises, thanks to the lock down.

The leader for training apps in Europe is Freeletics which has a free version. Here is a quick review of the app.

How to stay active during this quarantine? Here are some workout app reviews. Some apps offer longer free trial periods, so let’s try?:

• • • • • • • This coach is broadcasting every day a 30 minutes program on YouTube: The body Coach TV 2020
            • The 10 Best Fitness Apps for Home Workouts
            • The 8 Best Travel Workout Apps
            • 10 ways to work out at home while you’re stuck inside
            • Free workouts from Peloton, Nike, and others to help you stay active during your quarantine
            • How to work out during a self-quarantine, from free yoga classes to Arnold Schwarzenegger’s body weight routine
            • 7 Best Yoga Apps You Can Use Anytime and Anywhere
      • 
        • Practice good hygiene. Good hygiene is important for social, medical, and psychological reasons in that it not only reduces the risk of illness, but it also improves the way others view you and how you view yourself.
        • Meet friends to build your sense of belonging. Consider joining a support group to make new friends.
        • Try to do something you enjoy every day. That might mean dancing, watching a favourite TV show, working in the garden, painting, or reading.
        • Find ways to relax, like meditation, yoga, getting a massage, taking a bath or walking in the woods.

 

3.Strengthen Your Connections

• • • • • Connect With Yourself
        • Connect With Others
        • Connect To Your Community

 

4.Create Joy And Satisfaction

Meditate

 

• Your family: spouse and children… and less work. You will spend more time at home, take this as an opportunity:

What helps create a successful relationship? Here are some clues:

• • • • • Acceptance of self and spouse
        • Emotional connection
        • Playfulness and humour
        • Affection
        • Sexual intimacy
        • Personal growth and a shared journey

As you read at the start of this article, according to Maslow, the success of a good relationship is to fulfill the needs of both partners.

Source: How to thrive with your partner?

 

Educating your children should be back to the centre of the stage: Why not take this as an opportunity for spending more time with your kids? More sports, real games (no screens), or why not cook something… Have fun… of course the school system is there to help but parents are the #1 ingredient for making happier kids and well-balanced future adults (please see Maslow’s “love and belongingness needs”) Read more: What every child needs

 

• Your friends: spend time with your friends, some sports? Some games? Of course while maintaining the recommended social distance measures!

 

The other 6 positive effects that will continue after the Covid-19 pandemic:

 

2. Communication is back! (with an acceptable social distance of course)

Yes, it’s nice to see that we are trying to reconnect and communicate more with our family members, friends, and the people around us. Before the Covid-19 crisis, we had less time to talk to each other, we were always running in a million different directions, and trying to fit in work and family schedules with one another. We didn’t have any time left to ask ourselves deeper, meaningful questions about our lives and our overall well-being and functioning. Thanks to the crisis, at last we can take the time to talk to our spouses, children, friends, neighbors, community members, and most importantly, ourselves.

Communication is the basis of our society. Thomas Suddendorf, an evolutionary psychologist at the University of Queensland in Australia is pointing out: We have a fundamental urge to link our minds together: “This allows us to take advantage of others’ experiences, reflections and imaginings to prudently guide our behaviour.

 

3. More altruistic attitudes, rather than egocentrism?

Perhaps we will observe positive societal changes, and more people saying: “Are you ok?”… “Be brave.” … “Take care”… “May I help?”… Let’s return to a “community feeling” and a “take care” attitude towards others: Are my family members ok? Are my friends in good shape? Are my neighbours okay? How may I help?

 

4. Taking care of our seniors

Our elderly play a big role in our lives. They built foundations, they started our families and communities, and advanced our knowledge…It’s important not to take them for granted, and this pandemic may re-enlightened many on the importance of respecting our elders.

 

5. Local production

Multinationals producing materials in cheap remote countries will start to diversify production sources: let’s go back to local production rather than worldwide outsourcing. While price and profit margins will remain important decision criteria, they will be less important as decision-making factors for outsourcing production.

 

6. Working remotely

People will be more efficient and their work will be valued based on results, rather than time spent on the job or at the office.

Working from home allows more quality time with family and kids, that’s obvious, but there are still many other positive things about working from home:

1. 1. Control over your own schedule
   2. More time for personal pursuits
   3. Make money doing something you love
   4. No more commuting
   5. Control over your work attire
   6. No boss
   7. More opportunity for growth

Source: 9 reasons why you should work from home

Coworking spaces will keep a central place in this new work environment as we are still working within groups.

 

7. Increases in creativity

Increasing our activities and hobbies helps open up our minds: Learning a new language, learning to code, reading, gardening, cooking, sports, skills to advance your professional career, learning a new activity/sport/hobby.

Here are some easy resources about how to increase activity

• • • Learn a new language with the European leader: Babbel.com
    • Linkedin learning
    • Youtube
    • The Best Android Apps for Learning How to Code
    • The best recipe apps for iOS and Android
    • Marmiton, the french cooking website with more than 70,000 recipes
    • Coursera, a website with online courses, certificates, and degrees to build your skills

 

More opportunities to try new things with a clearer mind, the possibilities are endless and the world is your oyster…

 

Don’t forget no more kisses with foreigners 😉 .

 

Don’t neglect the basic recommendations to keep yourself and others safe:

• maintaining a social distance of 2 m,

• regular hand washing,

• cover your mouth when you cough or sneeze,

• avoid touching your face after touching hard surfaces where the virus can live.

 

Looking for a mortgage or a local expert in Alicante, Malaga, Valencia, Madrid, Barcelona,…? Ask us directly!

Stéphane

Senior analyst and strategist at HTBIS

Check the full HTBIS team here

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