Cost of living in Spain: expensive and cheap regions

The difficult situation in Eastern Europe makes people consider moving to calmer and more economically developed countries. Warm Spain with its mild Mediterranean climate attracts residents of CIS countries with great prospects in terms of professional development and living conditions.

If you have decided to move to Spain for permanent residence or to wait out the hostilities in Ukraine, you must have wondered what the prices of thereal estate in Spain.Next, let's look in more detail, in which regions to live the most profitable, and which are considered elite and repel unaffordable prices for purchase and rent.

How much does it cost to buy and rent real estate in Spain?

Who doesn't dream of a small, comfortable seaside house in the heart of Europe? In 2022, the average cost ofreal estate purchases in Spainconstitutes:

• 144,450 euros for the house;
• 1814 euros per square meter of space in the apartment.

Real estate for rent in Spainhas increased by 53 euros over the last year and, depending on the region, type of apartment and square footage, ranges from 400 to 1000 euros per month.

Undoubtedly, the cost of housing directly depends on many factors like:

• real estate in the city is more expensive than in the suburbs;
• condition of the house or apartment, how fresh the repairs are;
• the age of the house;
• Infrastructure.

The cost of housing directly depends on the distance from the center, transport interchange, the presence of schools, kindergartens, shopping centers and park areas in walking distance.

Luxury regions of Spain

The most expensive and luxurious city in terms of real estate value is San Sebastian. The surrounding area is also characterized by high prices and is full of elite offers. The average cost per square meter in San Sebastian exceeds 5 thousand euros per square meter, which is 196% of the average cost of real estate in 2022.

Priceper 1 m2real estate in Madrid,for example, in apartments located on the central street Calle Serrano, is 11,000 euros. Barcelona ranks third in terms of housing costs - for one meter square apartment in an expensive area will have to pay about 9,500 euros.

The expensive regions also include such large cities as Palma de Mallorca, Bilbao, Santander and Málaga.