Costs of Buying Property in Spain

2 Sep 2022
Real Estate,
Throughout the last decade, there has been a fluctuation in the cost of buying property in Spain and in other countries in Europe. The recession saw house sales drop massively, and the recovery saw many property prices remain low; many European countries still offer property at pretty incredible prices.

When you are thinking about buying a house, the cost of buying property shouldn’t be thought about as the sole decision maker. Things like cost of living, housing prices, transportation costs, the region and other factors should be taken into consideration when looking at the cost of property in Spain and its neighbouring countries. 

For this blog, we used Numbeo to get the figures for the cost of property in Spain, Italy, France and UK, as well as transportation costs and food for the various countries. 

Here we have a look at the clear winners for each of these three sections:

  • Food & Beverage
  • Transport costs
  • Housing costs

Food & Beverage

Let’s face it, a lot of our monthly salary is spent on food and drink. And although it may not seem like a big deal, the food and beverage cost should be considered when looking at the cost of property in Spain and other European countries. For a basic restaurant meal, you will pay around £10.39 in France, £10.00 in the UK, £12.00 in Italy, and £8.66 in Spain. A pint of beer also came out cheapest in Spain at around £1.73, where it was £3.00 for the UK, £4.33 in France and £3.46 in Italy. 

After comparing more things like the cost of milk, bread, and McDonald's, Spain came out the winner in three of the six categories and Italy was most expensive in four of the areas. But referring to Spain as a whole doesn’t do Costa Blanca justice; in Calpe and other Costa Blanca cities, the cost of living is even lower.

cost of buying a property in spain

Transportation Costs

When considering the cost of property in Spain and other European countries, you should definitely factor in the cost of transportation. Trains, taxis and fuel prices all lend a hand in determining how much you are going to spend getting to and from work on your daily commute or simply travelling around to places like restaurants or bars. 

Here’s what we found: A monthly pass on local transport in France would set you back £40.70, £55.00 in the UK, £36.37 in Spain; in Italy it’s about £30.31. However, that’s not the only thing to keep in mind. Cities around Spain’s coast are especially easy to get around on foot, which will help you get exercise and save money. 

Housing Costs

The cost of property in Spain and other countries also covers utilities, monthly rent and the price per square metre of real estate sold. 

Here is what the results told us: the basic monthly utilities for a flat were cheapest in Spain at £84.86, then France at £96.12, UK at £137.00 and Italy came in most expensive at £129.89. Purchase price per square metre in the city centre is around £3,463.76 in France, £2,309.89 in the UK and the most expensive in Italy at £4,329.70, which is considerably more than the £2,771.01 in Spain.