Why Retiring to Spain Can Help Save The Pennies

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Posted on: 07 August 2018 by Dennis Star

We have all dreamed about retiring and packing up to move to a sunnier climate which can offer us a better quality of life in our later years. Spain is one of our favourite countries, thanks to its beautiful climate, surroundings and friendly locals. But, did you know that moving to Spain could actually save the pennies?

New data has found that packing up to move to Spain can actually save you thousands of pounds in just one year, leaving more spare money to spoil the grandchildren! Now we know moving abroad can be a step, however there is lots of information available to help make the transition as smooth as possible. Below are just some of the ways you could compare the cost of living and create a new life in Spain…

Save the pennies on your accommodation

If you decide to sell up your UK home and make the big move to Spain, you’ll be happy to know you can actually get more space for your money. While you may be looking to downsize, there’s always an excuse to have space for the family and grandchildren.

You’ll find the price of paradise much cheaper in Spain as the average house price per square metre in the UK sits £17,766, whereas in Spain, you’ll be expected to pay just £3,854. At five times less per square metre, it’s easy to see why Spanish property continues to turn heads - it’s not just for the stunning surroundings.

Getting around will cost you less

If you’re content travelling around by car, you’ll find yourself saving those pennies once more in Spain. For one litre of gasoline, you’ll expect to pay £1.18 in the UK, whereas in Spain one litre costs as little as £1.06. While the difference isn’t going to break the bank, the savings will start to add up - every penny counts after all!

Popping to the local shops for souvenirs, trinkets or groceries will also cost half the price, leaving you with more money to spend on treats while you’re in town. Those who prefer public transport can expect to pay around £1.23 for a one-way ticket via local transport, whereas the UK price is nearly double at £2.40.

Food and drink fit for a king

We all enjoy a meal at a nice restaurant, but a three course meal can sometimes come at a heftier price than we’d like! You’ll be able to save £14.14 on a three course meal for two, so you’ll have more money to spend on drinks to enjoy with your meal.

There’s nothing nicer than watching a Spanish sunset whilst sipping on a glass of Rioja wine, so it’s welcome news that the average cost of a mid-range bottle of wine will set you back only £4.41, whereas in the UK you’ll be forking out £7.00.

If a pint of beer would tickle your tastebuds, you’ll be pleased to know that it’s more affordable abroad. In Spain, a pint will cost you only £1.76, whereas you’ll be paying around £3.50 here in the UK.

Healthier savings

Spain may not have the exact same healthcare system as the UK however, if you choose to go private you can still save on some of the more costly elements of healthcare.

In the UK a private doctor costs £70.00 per visit and it’s not something you can afford everytime you’re ill. In Spain, a visit to a private doctor only costs £46.00 allowing you to save those important pennies.

Even with the NHS, you still have to pay for prescribed medicine in the UK, which can set you back £8.80 per prescription. In Spain, a box of antibiotics (12 doses), is nearly half the price, with a cost of just £4.50.

While making the decision to pack up and move to a sunnier climate can be a big decision, it’ll be easier knowing that the quality of life, as well as those monetary savings, looks a lot sunnier in Spain.

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Dennis Star

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