Spain is known for offering a good quality of life with a low cost of living – which is why it is the third most popular country in the world for Britons to live.
However, new research shows that those in some of the country’s regional capitals are spending far more than their compatriots in other parts of the country.
Research by Kelisto.es found that Barcelona residents are paying as much as 30.17pc more than the national average cost of living in Spain. This is higher than San Sebastian, which is 27.85pc above the national average, and Madrid at 22.72pc.
The cost of living in cities, percentage above or below the national average Barcelona, San Sebastian and Bilbao also top the league when it comes to paying a premium for property, with a flat measuring 80 square metres in these cities costing from €241,000 to €328,000 on average. The typical flat of a similar size elsewhere in Spain would cost an average of €131,000.
If you choose to rent in either Barcelona or San Sebastian, you will again be paying a premium. The national average monthly rent for a similar-sized property would be €561.60, with Barcelona costing €970.40 (72.79pc more) and San Sebastian €940 (67.38pc more). At the other end of the scale, Lugo would be 40.88pc less at just €332 on average, with Ourense at €351.20, putting it 37.46pc below the average cost.
According to Foreign Office figures, there were more than 770,000 British people resident in Spain in 2014 – placing it behind only the USA (2.2m) and Australia (1.1m) in popularity. Kelisto examined property prices, the amount of tax to be paid in each city, bus and taxi fares, petrol prices, the cost of a loaf of bread, a litre of milk, the price of a ticket to the cinema and a meal for two. The research covered 50 provincial capitals plus the autonomous cities of Ceuta and Melilla.
The analysis showed that living in the north of Spain is generally more expensive than living in the south. Caceres ranks as the cheapest city to live in, at 17pc below the national average. Jaen (-12.79pc), Ceuta (-9.37pc) and Badajoz (-8.78pc) also boast relatively cheap costs of living.
One of the biggest discrepancies across Spain comes in the cost of IBI (Impuesto sobre Bienes Inmuebles) – a property tax that must be paid by the owners of all Spanish properties. This is calculated on the basis of the rateable value of the property. The difference between this tax in the most expensive city of Lleida and the cheapest – Pamplona – is 58.29pc.
The news comes at a time when many expats are finding it difficult to live on their British pensions in Spain. With the pound weakening against the euro, they are getting less for their money than they are used to. For example, in mid November (2015) the pound was worth €1.43 according to data from currency experts Moneycorp, which would have generated €1,430 for every £1,000 of pension. Today, the pound is worth just €1.17, meaning that same £1,000 would be worth just €1,170 – €260 less.
So is this a sound reflexion of the real life in Spain? Do you think Spain still offers a low cost cost of living? Please cast your vote...