Choosing a country for permanent residence is one of the most significant life decisions, and when sunny destinations like Spain and Greece are on the table, the choice becomes even more challenging. Beyond the cultural similarities and wonderful climate, a key factor for any future expatriate or investor is the daily cost of living. This analysis provides a detailed comparison of the cost of living in Spain versus Greece to help you determine which of these two Mediterranean jewels is more favorable for your budget.
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General Overview: The Cost Index
Before diving into the details, it’s important to note that, overall, the cost of living in Spain is slightly higher than in Greece. According to data from statistical portals like Numbeo, consumer prices (including rent) in Spain are about 20-30% higher compared to Greece. However, this difference varies significantly depending on the city, region, and lifestyle. While Madrid and Barcelona have a standard of living comparable to other major Western European cities, life in smaller Spanish cities can be considerably more affordable. Greece, on the other hand, offers lower costs, especially outside the tourist islands, making it the most affordable country to live in Western Europe.
Cost Comparison by Category
Let’s examine the main items in a household budget to get a clear idea of where the money goes in each of the two countries.
Housing – Rent and Purchase
Housing is the biggest expense for most people, and this is where the most significant difference between the two countries lies.
- Spain: Rent prices in major cities like Madrid and Barcelona are considerably higher. The rent for a one-bedroom apartment in the city center can range from €900 to €1,200. In smaller cities like Valencia or Seville, prices are more reasonable – around €650-€900. If you are considering buying a holiday property in Spain, be prepared for average prices of over €2,000 per square meter.
- Greece: Rents are significantly lower. In the center of Athens, you can find a one-bedroom apartment for €450-€600, and in Thessaloniki, it can be even cheaper. Outside the big cities and popular islands, prices drop even further. This makes Greece extremely attractive for people on a tighter budget or digital nomads.
Utilities (Electricity, Water, Internet)
The difference in utility bills is not as drastic, but it still exists.
- Spain: The average monthly costs for electricity, water, heating, and garbage for an 85 sq.m. apartment are between €120 and €160. Electricity prices in Spain are among the higher ones in Europe.
- Greece: Similar expenses in Greece would amount to €140-€200, with the price of electricity often being slightly higher than in Spain, especially during the winter months due to heating needs. The internet in both countries is of good quality and at relatively similar prices – around €25-€40 per month.
Food and Groceries
When it comes to grocery shopping, Greece comes out slightly ahead as the more budget-friendly option. According to a study by the Research Institute of Retail Consumer Goods (IELKA), a basket of basic food products in Greece is cheaper compared to Spain. This is partly due to Spain’s lower VAT on food (4% or 10%) compared to Greece’s (13% or 24% for some products), but the final prices in Greek supermarkets are often lower.
- Spain: Monthly food expenses for one person are around €200-€250.
- Greece: The same expenses would be around €180-€220.
Dinner at a mid-range restaurant for two in Spain will cost about €50-€60, while in Greece, it can be found for €40-€50.
Transportation
Transportation costs are relatively close, with a slight advantage for Spain in terms of its developed long-distance network.
- Spain: It boasts an excellent high-speed train network (AVE) connecting major cities. A single ticket for public transport costs around €1.50. The price of gasoline is slightly lower than in Greece.
- Greece: Public transport is affordable, with a ticket price of around €1.20 in Athens. Intercity travel relies mainly on buses and ferries.
Healthcare and Education
Both countries have well-developed public healthcare systems, accessible to permanent residents who pay social security contributions.
- Spain: The “Sistema Nacional de Salud” is considered one of the best in the world and offers almost free universal coverage.
- Greece: The National Health System (ESY) also provides free or very low-cost care, but many expats prefer to combine it with private insurance for faster access to specialists, especially in rural areas.
Private education is more expensive in Spain, where international schools can cost significantly more compared to those in Greece.
Conclusion: Which Country Should You Choose?
The choice between Spain and Greece depends entirely on your personal priorities and financial capacity.
Choose Spain if:
- You have a higher budget.
- You are looking for a more dynamic and cosmopolitan environment in cities like Madrid or Barcelona.
- You want access to higher-paying jobs and a more developed economy.
- You plan to travel frequently throughout Europe by high-speed train.
Choose Greece if:
- Your budget is more limited and you are looking for a lower cost of living.
- You prefer a more relaxed and slower pace of life.
- You dream of living on an island or near historical landmarks.
- You are looking for the most affordable option for residency in Western Europe.
Regardless of your choice, both countries offer an unparalleled quality of life, a wonderful climate, and a rich culture. Before making a final decision, it is advisable to visit both countries and spend some time in the cities that attract you the most.
This post is also available in: Български
