Cost of living in Ibiza
Ibiza, a renowned island in Spain, is famous for its vibrant nightlife and beautiful beaches. Understanding the cost of living here is crucial for potential residents and visitors alike.
This guide provides a detailed breakdown of expenses in Ibiza, covering dining, groceries, transportation, housing, and utilities, 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 $20.93.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $83.72, with prices ranging from $57.56 to $104.65.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $10.46, with a range between $9.73 and $11.51.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $2.92 to $5.23, imported beer $3.14 to $5.02, cappuccino $1.57 to $4.87, and Coke/Pepsi $1.95 to $3.14.
Grocery Prices
- Milk - Milk is priced at $1.26 per liter.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs $3.14.
- Eggs (Dozen) - A dozen eggs cost $3.14.
- Local Cheese (1kg) - Local cheese is priced at $18.84 per kg.
- Water (1.5 liter bottle) - A 1.5 liter bottle of water costs $0.31.
- Bottle of Wine (Mid-Range) - A mid-range bottle of wine costs between $4.19 and $6.28, averaging $5.23.
- Domestic Beer (0.5 liter bottle) - A 0.5 liter bottle of domestic beer costs $1.27.
- Imported Beer (0.33 liter bottle) - A 0.33 liter bottle of imported beer costs $1.52.
- Cigarettes 20 Pack (Marlboro) - A pack of Marlboro cigarettes costs $5.02.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs between $2.09 and $2.20.
- Fuel (Gasoline) - Gasoline is priced between $1.60 and $1.74 per liter.
- Taxi Fares - Taxi fares start at $3.82, with a cost of $1.14 to $1.27 per km and $24.07 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre averages $2092.94.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent averages $1883.64.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre averages $2406.88.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent averages $2281.30.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre ranges from $1282.41 to $4185.87, averaging $2734.14.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter ranges from $1046.47 to $3453.35, averaging $2249.91.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $111.19 and $296.50, averaging $227.50.
- Internet - Internet services range from $31.39 to $83.72, with an average cost of $57.56.
- Mobile Phone Monthly Plan - A mobile phone plan with calls and 10GB+ data costs between $10.46 and $20.93, averaging $20.93.
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
Restaurants
Restaurants
Markets
Markets
Transportation
Transportation
Rent Per Month
Rent Per Month
Utilities (Monthly)
Utilities (Monthly)
Sports And Leisure
Sports And Leisure
Clothing And Shoes
Clothing And Shoes
Buy Apartment Price
Buy Apartment Price
Salaries And Financing
Salaries And Financing
"Key Takeaways"
Ibiza's cost of living is relatively high, particularly in terms of housing and dining out. Rent prices in the city centre are notably expensive, reflecting the island's popularity.
Grocery prices are moderate, with essentials like milk and bread being affordable, but local cheese and wine can be more costly.
Transportation costs are reasonable, with public transport and fuel prices being manageable, though taxi fares can add up quickly.
Utilities and internet services are moderately priced, but it's important to budget for these as part of your monthly expenses.
Conclusion
Living in Ibiza offers a unique lifestyle with its beautiful landscapes and vibrant culture, but it comes with a higher cost of living compared to other regions.
Prospective residents should carefully consider their budget, especially for housing and dining, to ensure a comfortable living experience on the island.