Cost of living in Canary Islands
The Canary Islands, a Spanish archipelago off the coast of northwestern Africa, is known for its beautiful beaches and vibrant culture. Understanding the cost of living here is crucial for anyone considering a move or extended stay.
This guide provides a detailed breakdown of the expenses you can expect, from dining and groceries to housing and transportation, helping you plan your budget effectively.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $15.70 on average, with a range between $10.46 and $26.16.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $44.47, with prices ranging from $31.39 to $83.72.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $8.89, with a range between $5.23 and $12.56.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $1.05 to $5.23, imported beer $1.88 to $5.23, cappuccino $1.05 to $2.09, and Coke/Pepsi $1.05 to $2.09.
Grocery Prices
- Milk - Milk is priced between $0.70 and $2.32 per liter, averaging $1.18.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $0.35 and $2.62, with an average price of $1.54.
- Eggs (Dozen) - A dozen eggs range from $1.63 to $4.19, averaging $2.68.
- Fruits (e.g., Apples, Oranges) - Apples cost $1.05 to $5.23 per kg, while oranges range from $1.05 to $1.67 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $0.73 and $2.32 per kg, and lettuce costs $0.52 to $1.57 per head.
Transportation
- Public Transport (One-Way Ticket) - Public transport ticket prices are currently unavailable.
- Fuel (Gasoline) - Gasoline is priced between $1.26 and $1.74 per liter.
- Taxi Fares - Taxi fares start at $3.45, with a cost of $0.99 to $3.14 per km and $10.46 to $41.86 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $1023.27 to $1046.47, averaging $1034.87.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $627.88 to $639.55, averaging $633.71.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre averages $2046.55.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $556.40 to $784.85, averaging $668.79.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre averages $3069.82.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter averages $2092.77.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $52.32 and $148.25, averaging $81.44.
- Internet - Internet services range from $26.16 to $83.72, with an average cost of $31.39.
Cost of Living Rankings
The cost of living indices for Spain are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in Spain, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
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Salaries And Financing
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"Key Takeaways"
The Canary Islands offer a relatively affordable cost of living compared to many European destinations, especially in terms of dining and groceries.
Housing costs can vary significantly depending on location, with city centre apartments being more expensive.
Transportation costs are moderate, with gasoline prices being a notable expense for car owners.
Conclusion
In conclusion, the Canary Islands provide a balanced cost of living with affordable dining and grocery options, making it an attractive destination for both short-term visitors and long-term residents.
While housing in the city centre can be pricey, options outside the centre offer more budget-friendly alternatives. Understanding these costs can help you make informed decisions about living in this beautiful region.