Cost of living in Paradise Island
Paradise Island, located in the Bahamas, is renowned for its stunning beaches and luxurious lifestyle. Understanding the cost of living here is crucial for anyone considering a move or extended stay.
This guide provides a detailed breakdown of expenses, including dining, groceries, transportation, housing, and utilities, to help you plan your budget effectively.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $40 on average, with a range between $20 and $50.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $150, with prices ranging from $100 to $250.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $10, with a range between $8 and $11.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $2.5 to $15, imported beer $4 to $10, cappuccino $4 to $10, and Coke/Pepsi $1 to $4.
Grocery Prices
- Milk - Milk is priced between $2.11 and $8 per liter, averaging $4.99.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $3 and $9.72, with an average price of $3.
- Eggs (Dozen) - A dozen eggs range from $3 to $9.6, averaging $7.38.
- Fruits (e.g., Apples, Oranges) - Apples cost $2 to $13.23 per kg, while oranges range from $2.2 to $12 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $1.74 and $8.82 per kg, and lettuce costs $2 to $4 per head.
Transportation
- Fuel (Gasoline) - Gasoline is priced between $1.25 and $1.62 per liter.
- Taxi Fares - Taxi fares start at $6, with a cost of $3.11 per km and $100 per hour of waiting.
- Car Purchase - A new Volkswagen Golf costs between $35,000 and $40,000, while a Toyota Corolla ranges from $38,000 to $43,500.
Housing Costs
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre averages $5500.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $200 and $400, averaging $200.
- Internet - Internet services range from $60 to $135, with an average cost of $100.
Cost of Living Data
The following pricing data has been gathered from 2 user contributions, as of the most recent update in November, 2024.
Restaurants
Restaurants
Avg
Range
Meal, Inexpensive Restaurant
$40.00
Meal for 2 People, Mid-range Restaurant, Three-course
$150.00
McMeal at McDonalds (or Equivalent Combo Meal)
$10.00
Domestic Beer (0.5 liter draught)
$4.00
Imported Beer (0.33 liter bottle)
$6.00
Coke/Pepsi (0.33 liter bottle)
$2.18
Water (0.33 liter bottle)
$1.71
Cappuccino (regular)
$5.00
Markets
Markets
Avg
Range
Milk (regular), (1 liter)
$4.99
Loaf of Fresh White Bread (500g)
$3.00
Eggs (regular) (12)
$7.38
Local Cheese (1kg)
$8.07
Water (1.5 liter bottle)
$2.88
Bottle of Wine (Mid-Range)
$20.00
Domestic Beer (0.5 liter bottle)
$3.83
Imported Beer (0.33 liter bottle)
$4.67
Cigarettes 20 Pack (Marlboro)
$11.00
Chicken Fillets (1kg)
$11.45
Apples (1kg)
$3.79
Oranges (1kg)
$4.65
Potato (1kg)
$4.71
Lettuce (1 head)
$2.83
Rice (white), (1kg)
$6.86
Tomato (1kg)
$5.30
Banana (1kg)
$2.90
Onion (1kg)
$3.28
Beef Round (1kg) (or Equivalent Back Leg Red Meat)
$19.33
Transportation
Transportation
Avg
Range
Gasoline (1 liter)
$1.42
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car)
$37,500.00
Taxi Start (Normal Tariff)
$6.00
Taxi 1km (Normal Tariff)
$3.11
Taxi 1hour Waiting (Normal Tariff)
$100.00
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car)
$42,875.00
Rent Per Month
Rent Per Month
Avg
Range
Apartment (3 bedrooms) in City Centre
$5,500.00
Utilities (Monthly)
Utilities (Monthly)
Avg
Range
Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment
$200.00
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL)
$100.00
Mobile Phone Monthly Plan with Calls and 10GB+ Data
$71.49
Sports And Leisure
Sports And Leisure
Avg
Range
Fitness Club, Monthly Fee for 1 Adult
$130.00
Cinema, International Release, 1 Seat
$15.00
Clothing And Shoes
Clothing And Shoes
Avg
Range
1 Pair of Jeans (Levis 501 Or Similar)
$67.50
1 Summer Dress in a Chain Store (Zara, H&M, ...)
$76.67
1 Pair of Nike Running Shoes (Mid-Range)
$117.00
1 Pair of Men Leather Business Shoes
$120.00
Salaries And Financing
Salaries And Financing
Avg
Range
Average Monthly Net Salary (After Tax)
$2,500.00
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate
7.05%
Childcare
Childcare
Avg
Range
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child
$640.00
International Primary School, Yearly for 1 Child
$14,916.67
Paradise Island Cost of Living
"Key Takeaways"
Paradise Island offers a luxurious lifestyle with high costs, particularly in dining and housing.
Grocery prices are significantly higher than average, reflecting the island's reliance on imports.
Transportation costs are moderate, but owning a car can be expensive due to high purchase prices.
Conclusion
Living in Paradise Island, Bahamas, comes with a premium price tag, especially for those seeking a high standard of living.
While the cost of dining and groceries is high, the island's beauty and lifestyle may justify the expense for many.
Prospective residents should budget carefully, considering the high costs of housing and utilities.