Spain Cost of Living 2024 (Family in Madrid)
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- เผยแพร่เมื่อ 20 ก.ย. 2024
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We check out the cost of living in Madrid in 2024!
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==== WHO ARE WE? ====
Hola, Spain lovers! We're James and Yoly. James is a New Zealander, and Yoly is from Spain. And we both live in Madrid. This channel is all about giving you a local insight into life in Spain, and helping you experience this country like a local when you come to live (or visit!).
If that sounds like your kind of thing, bienvenid@!I
Business inquiries: hello@spainrevealed.com
Hope you found the video helpful! 👉 Contact my health insurance broker Janys: www.spainrevealed.com/health-insurance-referral
❤❤❤❤❤❤❤❤🌹🌹🌹🌹🌹🌹🌹 for the wife
Insurance is an utter waste of money, the monitored alarm even more so. Keep your computers etc. in a room with a lock. Take the money you put into those and put it into your own account. You will soon realise that you are wasting your money.
Hola! My husband and I love your videos! Could you share the FB book where you found your sitter for nights out? Gracias!!
Mercadona: viral video this week from farmer about oranges are paid 25 cents per kilo to the farmers while sold in Mercadona for 1.89 euro.
What justification when you sell product at 8 times
How greed from large corporations are creating crisis of inflation without any justification.
You only went up to 55 years old - many considering moving there are 60+. What are those rates, please??
Did anyone else watch this and just get depressed how many bills we all have to constantly pay in this life? I can see why people start living in 10 and just drop out of society it's kind of overwhelming....
You seem to have a pretty good life, with the odd luxuries, better than a lot of people. Enjoy !
It looks like a middle-class/upper-middle-class Madrid lifestyle. TH-cam can pay well if you do it well (not just the channel itself but all the business opportunities it can open up). They've been doing a good job of providing valuable info in an appealing way for quite a while now. Enjoy indeed!
Outstanding video, only missed a total approximate per month. You guys make me love Spain even more!
Just to add that the Comunidad and the Derramas are calculated according to the number of square metres each flat has: the larger the flat (and terrace/balcony), the more you pay.
Good point!
did not know that. Thanks for the info!
I love Spain so much . My father is finally returning to Madrid next month . We are from Andalusia. I will move back to Spain later in life. thank you for this video, your channel is awesome ! this information is always helpful
I’m fully in support of the G&T index….and, Spain is definitely the home of the best G&T value! Oh, Diego looks dreamy ;)
The price of olive oil is enormous at the moment.
I'd heard the price of olive oil had gone up, but not that it tripled!
Yup, Olive oil I buy from Mercadona recently went up again by €2 in just a couple of days!
@@chriswale 🥺
Here in Puerto Rico, olive oil is expensive, too. Yet I still have to buy it. I love it so much.
Damn. That oil price stopped me in my tracks. Sheesh. 😮
I imagine the 'derramas' cause some 'dramas' when people have to pay!
Very realistic info guys. We moved to Tenerife 2022. The best decision we made was to install a 10.6kwh + batteries solar system. All energy needs (cooking, AC, hot water, pool pump etc plus juice for our Fiat 500 EV) cost 25€ per month. I reckon the system costs will be covered in less than 10 years
How much did it cost you to install the whole system ?
@@Aupm-1Total installation cost 20,000€ plus 2,000 for car charger. If you're paying tax in Spain there are tax breaks and subsidies available but we missed out on those so I don't know how much
(1) I live in San Francisco, California so when I go to Madrid everything is like half-price of what I pay here (2) there is a global olive oil shortage so if you live for that stuff, you'll pay no matter where you are. Great video.
i also get surpriced every time i see prices from the states..
the crazy thing is i come from denmark and we pay alot in tax, but spain have gotten just as expensive as denmark on a very short time
10 years ago people would move there to save money, but there is not much to be saved anymore..
germany also got more expensive then denmark in a couple of years, we used to do border shopping there..
now the bordershops are closing 1 by 1
One thing that's for sure, if you're thinking of traveling to Spain this coming summer, get ready to pay! Prices are WAY up for flights (from the USA), hotels, trains, everything! Hence why I am going in spring, a summer trip is just way too expensive. The weather will be better as well, at least in Andalusia. On the topic of olive oil, have you been to Jaen (Spain's olive oil capital)? It's on my itinerary.
The smell near almazaras around Jaen is really unique… also summer is crazy hot in the middle-south of spain, better near the coast and completely different in the North (the great forgotten in Spain, colder incredible food, arguably the best in the country)
Love the personal examples and it's amazing the difference in costs between when I lived in Madrid in 2015/16 and today. I could easily find a solid menu del dia for around 7 or 8 euros then!
Glad you enjoyed it! Yes, prices have indeed gone up
I’ve just returned from Madrid and saw a lot of Menu de días at around 12,90, but this was the cheapest. I was also in BCN and it was hard to find any that cheap in the centre. Most were about 14.
Love this couple! So much useful information on Spain, particularly for someone who's just move here!
You got a great interest rate! Interest rates in the U.S. are much higher. Your house value increased by 50% in a few years and your property tax is low. You guys did really well. I had no idea there were HOAs in Spain! Derramas is giving us pause, because we still want to buy in Madrid, but we never thought an HOA could cost us $100/month. We cannot get home owners insurance in Florida because of climate change. Most of the insurers have left the state, so your annual insurance cost is enviable. I cannot believe how much the cost of food has increased since we lived in Madrid! We return every year and stay for a few weeks to a few months and only noticed the increase in rental prices of apartments. Now that I think of it, groceries probably were a little more expensive!
I'm lucky when I visit Spain with my wife & daughter, we stay with her parents....but I have seen an increase in prices from my first visit meeting my spanish in-laws in 2019 and last year for Christmas.
great video, subscribed. just wanted to point out the reason why the g+t did not go up in price is because that business is likely not traded on the stock market. "inflation" is simply greedy profiteers. (of course there are other reasons why prices increase, but this is #1 and most common) cheers.
parece que todo mundo vive feliz en España .
Saludos desde CHILE ,AMERICA..
Este video esta fenomenal para mi que pienso usar la visa no lucrativa, pero me gusta más la comunidad Valenciana y Andalusia. Siendo Madrid y Barcelona lo más top en precio tengo una idea general. Thank you James keep the good work
Utilities are much less than in Italy. Also, we do not pay property tax in Italy on our first home (where we are residents). The property tax on my home (about $300K - 2bdrm) would be about $90 per month and the condo (HOA fee) is about the same.
Fantastic video. Spain is a truly great country ❤
Un Whisky con. Hielo en un bar cuesta 12€. Una consumición.
Un litro de Aceite de oliva virgen hoy , de 9 a 12€ litro y dura 15 días.😊
You didn't total everything per month at the end!
Great vid guys... We live in Calpe and we found your numberwork very interesting. To make comparisons a little easier, could you attach a spreadsheet of your total monthly/annual costs, please....?
Thanks a lot Yoly and James for this great video. I hope that you and Lucia are well. I miss Spain and spanish food.
Wow shoking, I'm from Australia and with my husband we are moving to Spain in alicante and with that I'm moving alone for 2 to 3 years on a non lucrativo visa hopping to find a job in a translation school so that my husband can move with me around 2028. Great insights especially from a kiwi I feel like I can trust you so thank you thanks a lot ❤❤❤❤❤❤
love the G&T index, I'm gonna steal that one!
Os adoro chicos!!! Gracias por vuestro contenido.
Soy francesa viviendo en España desde hace 5 anos!!! Os esperamos en Alicante!
Thanks so much for this video! And now I'm certain as a retired single I could pretty much live anywhere I wanted to in Spain comfortably.
Interesting...and very useful information! Compared to South Florida, the electricity cost shocked me the most (pun intended)...what you spend per year, I spend per month! Another fantastic video! Thanks!!
Interesting video. Remember that understanding Spanish is crucial for saving money.
While the prices are much higher than the used to be, they are still significantly better than in the US. .. and yes, the US does pay more, sure, but keep in mind the minimum wage in the US is still $7.50 an hour, that's $1200 a month BEFORE taxes. So yeah.
Wow!!! This is amazing!!! Not planning on moving to 🇪🇸 but boy with all these info I can now!!!😊
Fortunately we produce olive oil at home. We have 40 olive trees at our house
it is funny how we dont care in the rest of europe, it doesent matter what we cook our fries in.
i did not use 1 drop of olive oil last year for example, and i would not taste the difference if i did
Well done James and Yoli, you two are so good at this! Thank you, and see you in Valencia.👍💕
Wow! The price hike for olive oil is enormous, thankfully here in our little village the price of my brandy and coke has remained the same for the last 9 years😊 cheers!
Goodness, I live in Florida USA, and seeing what you pay for groceries and other things like health care make me want to sell everything and move there. Even with inflation,you guys are about a 1/3 of what we pay for a family of 3 here.
I'd hear people say it's expensive to live in Madrid. In reality, for someone living in Berlin, I found it pretty affordable! I hope it continues to be like this! Thanks for the video, very informative!
It's not inflation. Open your eyes, it's corporate greed. America is full of the same thing.
All these major corporations including trucks, fuel, groceries, tractors, are all having record profits
A really excellent video. Yes, before folk think about a life in another country they should factor in these issues. I know so many 'ex-pats' that return to the U.K when they get old because of their fear about health care and proximity to family and friends. They're not as integrated as they thought. Overall I would say that was an interesting mix of positives and negatives.
Out of curiosity, I looked up the price of olive oil in a Carrefour supermarket in Italy and in another Carrefour supermarket in Spain. The prices are almost identical. Inflation does not only occur in Spain, it is a global phenomenon.
I was born in Barcelona 77 years ago, I have lived in OZ for 62 years, every thing is very
expensive here, I buy the Espanola oil 3 litre bottle for $ 44,00 AUD. 6 churros and 3
cappuccinos.. $ 35.00 AUD. it's madness
Nice video, wish you added visual sheet at the end to see an overview estimate.
Can someone do that in the comments? That would be more beneficial😊
Thank you! The reason I didn't is that I think it would give a false impression that that is our total budget. In the end, these are the big costs, but there are other costs that we pay for each month -- clothes, travel, and even small things like books we buy. But I take your point!
I agree a total monthly spend would be really helpful. I’m guessing it adds up to €4000-5000 a month for a family of three. It would probably cost 50% more where I live (Portland, OR).
My EVOO, went from around 30€ (5lit) to 47€ it is the best (Betis) so I bought it. The others had all gone up too…..😫~tenerife
Sanabresa was the best restaurant when we visited Madrid!
I'm in shock at how much prices have gone up in Madrid. I moved two years ago from Fan Francisco, and some of the prices feel like like American prices as how pricy it's gotten...especially olive oil!
Fitness is an investment! I'm a qualified Personal trainer and sports nutritionist. I studied both those things so that we are set up for life! Good health is important and all we need in life (apart from money haha)
Watched🍀🍀🍀🍀🍀🍀🍀🍀 every video
Ollie and u have Don this is the best .😊😊😊
I think I'm going to move to Madrid after my kids complete their college degrees. I live in Florida, and it's ridiculously expensive to live here.
James and Yoly, great video as ever! Thanks for sharing ❤
Our medical insurance in the US cost an arm and a leg. Plus, we still pay high income tax and property tax is relatively much higher.
Haha YES!! This exactly what I was looking for. Thanks so much for incorporating my questions!
Great Video. It’s insane how affordable and how little things have gone on in Spain meanwhile in the US everything has blown up by several dollars per meal or several hundreds for other things 😅.
I’m a homeowner in the US and I’m very jealous of your low interest rates and property taxes!
Thank you James and Yoli for being so transparent, especially with everything related to your house and bills. My boyfriend and i want to buy a flat soon (although outside Madrid) and this info has been very useful! Lets hope they give us a break with prices and we can afford something nice for the two of us. Its such a difficult feat to be a homeowner being young and in this economy!!
In the UK, we have long waiting lists too. To the point where we have ambulances waiting outside hospitals as certain hospitals and A& E departments are often unable to cope with demand, especially in the winter and the amount of illnesses at that time, but that's another story.
I'm fortunate in that my utility bills are included in my rent which has increased to £15 a month. Food and everything else went up, though some foods have gone down in price (pasta was 49p a bag then went up to almost £1 now it's 75p a bag and that's for basic pasta. Weetabix - a type of wheat based cereal - increased to £4+ for a large box! Compared to the cost you're now paying for coffee and olive oil, those prices suddenly don't seem too bad.) Two interesting things - when I went to Madrid around 2 years ago, I was shocked to see the price of petrol at around €2 a gallon or whatever it is over in Spain. I laughed at the irony as everyone in Britain complains about the cost of petrol here yet it was considerably under the €/£2 mark at the time. Also utilities are set to decrease this year like some of the other costs, though I can't imagine my landlords reflecting any reductions in their rent when that happens 🙄
Its not zero 2 bot O 2, the letter.
For gas, very important to take the right tariff, thr cheapest one will always be "TUR" its the regulated one, don't fall for the offers of big brands.
As for electricity very important to find out wich one will be the best for you. There is a good youtuber " el grinch energético" that makes an excel to compare all available tariffs wich suits you best
This is a fantastic and very informative video. Thank you.
Very informative. ❤Thank you. You have a very reasonable mortgage at a great rate. Good to buy when you did. Always enjoy your videos. Thanks.
We live in Chamberi and this neighborhood is hip and trendy now but really expensive. What i like in this video is that you use everyday life exemple...very interesting.
Second comment. The cost of of food has increased in a perverse way in the U.K as well as Spain and it's not just due to inflation. The supermarkets are passing on all costs to the consumer and a bit more. The price of meat in the U.K is becoming prohibitive. Some folk can afford to pay £8 for a couple of lamb chops but what the hell is going on? Let's all get used to mince and liver. Luckily I love them both.
A tremendous jump in detail from the content of the prior one in this topic. Thanks for these specifics.
And the pacing here is GREAT, both editing and script. Nicely done.
Would have liked to see another 15sec on MONTHLY Metro cards w/o a set number of trips.
I pay $1,700 a month for a high deductible health insurance plan in the US. It's a $5,000 deductible per person
One major reason I'm moving to Spain.
thats crazy
Estuve en España hace poco y me parece que el asunto de las tapas ya se ha vuelto caro y son demasiado pequeñas, mejor ir a comer a un restaurante y se gasta menos...
Guys, I am am an old fkr who moved to the Algarve nearly 20 years ago. Anyway, this video is the very best summary of the cost of living in Spain (and Iberia)... I can identify with everything you have discussed. Congrats to an absolutely outstanding achievement. BTW, I don't really buy in to the drought problems being the cause of the huge rise in olive oil costs......I think the supply/demand equation is to blame....people are switching off using cheap and nasty Omega 6 corn and other oils.
Here in Ontario , Canada CAD$4,000 property tax that's not even in a big city some other cities even higher . $2,000 home insurance for a 200 sq meters home the bigger the house the more expensive. If you leave in a condo maintenance fee from $700 to over $1,000 monthly . Most Canadians have between 15% to 35% + deducted on their pay cheque for income tax and other taxes. Water , electricity , gas all very expensive. In supermarkets price have more than doubled. Eating in restaurants is very expensive there's a 13% sales tax added and generally a 15% for tips. A different tax if you consume alcohol . The 13% sales tax are charges on everything except on some basic foods such as milk, veggies, bread....
I love Madrid my favourite city in Europe, lived there for almost 10 years, due to circumstances moved to England, my daughter is born there , I remember when I first arrived in 2009 I used to sped 20-30 euros a week for food for 2 persons , everything was cheap, we sheared an apartment for 350 euros a month with all bills included, I wish I could go back but the cost of living is ridiculous everywhere now .
Olive oil is still cheaper in Spain than here in Germany. And true spanish Jamón is like gold over here. Bought some on my last visit in Malaga and since I am adicto to it. Thx :-)
I live in Portugal but am in Caçeres. Spain at the moment. Today in a SPAR store, I noticed that the olive oil is chained to the shelves! I presume you have to request it from the assistant if you want to buy it. 😮
1. Drop Diego and buy a Porsche. 2. The clandestine filming at the grocery was amusing and I liked the split screen edit. 3. The 1960's Henry Mancini vibe music was funny.
I love Yoli’s accent.
Fantastic watch as always 🫡
Alot of Spaniards have been buying air fryers in dealing with this issue.
good point!
Just moved into the same bario as a new home owner
and this video is great! I hope to bump into you guys someday! Thank you for the valuable content!!!!
Wife and I live in torrevieja. Diésel is available at 129.9 today
We love your videos. They’re so insightful and clear. Thank you!
The prices seem not bad as compared to where I'm at in the US.
The US is notoriously expensive compared to Europe in general when it comes to groceries/food.
Thank you for the great updated tips on places to eat and updated prices in Madrid 2024. It will come in handy when we go in March and September. Which we go to Madrid twice a year. Thanks for info.
Good to discover precious info on your channel. We will visit Madrid in less than a month and we are thrilled to see your food tour videos and discover those places. Per total, the cost of living and eating is cheaper than in Romania... at the restaurant the prices are fabulous..comparing with Romania in the inflation context.. haha. I work remote, in IT for Germany but I would love to live in Spain if an opportunity will occur. Nice to meet you and thanks for sharing!😍😍
No wonder you left NZ for Spain. Other than Spain being awesome in general, it looks like you've been able to cultivate a good lifestyle for quite a reasonable price. I feel like we should do an equivalent cost tally in NZ, but don't know if we'd manage to finish it without crying 😅
A very honest video from you both, thank you for sharing the information on prices etc.
I'm surprised how cheap private pre-school is compared to other countries!
You were lucky taking a mortgage before the interest rate hike. Im planning on buying but will wait for the rates to drop (they will drop, right?! 😅).
Great video! We shop in Mercadona too (€350 a month for 2 people) and spend about the same amount as you on eating out (restaurant prices in Valencia are same or higher than in Madrid).
I've lived in 5 European countries and I can tell I have the best quality of life here in Spain 😊
The biggest saving you need to make in Spain is water as they don't make it anymore... !!!! Nice video......😅❤
increíble como subió el aceite de oliva
Compared to Washington DC metro area the cost of living in Madrid is cheaper for utilities, food, except olive oil due to the drought but surprised that property taxes are way cheaper than around here.
Great video on the cost of living in Spain. Now I have to add the costs to see how much for family of 3 per month in Spain. 😊
Before Covid you could find 4€ per liter extra virgin oil in the south of Italy, now in 2024 the minimum you will find it is almost 8€ per liter , so its similar
You are not alone. We're all sucked into the perceived "inflation" where prices sky rocketed over the past 3 to 5 years. Of course, the blame will be on covid, blah, blah, but it appears prices only go up but never come down, so explain that?
Thank you - love your channel.
60€/month for alarm is crazy
I live in NYC, the USA, and I laugh at your prices, because I pay a lot for my house and everything else in NYC.
Hello James, this video is very interesting and so much helpful information. Thank you to you both. Danny
On average Americans spend about 11% of their income on food. That ratio is much higher it appears for Spain and Europe, but at least you are all much more confident your food isn’t contaminated or using potentially cancerous fillers. To get that kind of quality in America, you have to spend more like %20 of your income on food. Also your mortgage, property taxes, and data plans are significantly cheaper. Even with insane inflation, only about the %75 percentile of Americans can afford a lifestyle like yours.
I use to buy Spanish extra virigin Olive oil in the Uk. Lovely with Pasts meals and salad. But as you have said it has tripled in price so no longer can l afford to buy it.
Your cost of living /inflation is pretty much on par with mine here in Toronto Canada, except for internet, cellphone and cable , I pay more than double what you pay 😢😅. But for that I get 1.5 gbps fibre optic and 75 gb of data, which is way more than I for my iPhone 14(which is included in the price). Lots of reasons why everything is more expensive, including corporate greed.
Loved the video but i wish there was total at the end
when I came here 2 years ago I was sooooo excited with the cost of living and the cost of food. But let me tell you. I have seen the increased for some of my favorites products, cafe shops, bakeries, and restaurants that have gone Sky Rocket with the prices. I know its everywhere but i can expect that from US but I know that Spain is going thru some political, inflection, Taxation…. Issues..
Based on all these prices, I'm shocked that a ton of American retirees aren't moving to Spain. Basically, double all the costs and that's what things are like here in the U.S.. So retirees would be saving a fortune!!!
Taxes
One reason more US retirees on fixed income don’t relocate is that Spain’s financial requirement is higher than in, say, various Latin American countries. In 2023 the average SocSec payout for 12 months was around $21K, whereas Spain’s residency requirement for non-Europeans was almost 30,000 euros - around $32K.
An excellent informative video. Thank you both
Kieran
Electricity is cheaper now because the government put a discount, that will end at some point and it will go up. Also the price of buying a house has gone up so much, more than 50k per house, some even more than 100k compared to the price in 2020.