Cost of Living in Madrid

 

 

Spain's economy is on its way to recovery from its recent economic meltdown, and the cost of living in the city of Madrid has been steadily rising. Most people in Madrid cannot keep up with the high costs in the city especially with the unemployment still high over the last year. 

Housing/Accommodation 

Madrid offer expatriates a choice of communities depending on one's lifestyle preferences, and of course, one's budget. Most expats prefer to get real estate agents to help with the search and negotiations with landlords, especially when you can't speak the language. just make sure you get a registered real estate agent to help you with the process.  

A one-bedroom apartment outside of the city in Madrid may average a monthly rent of 716.67 Euros while a two-bedroom apartment costs about 900 Euros. 

Living within the city centre costs a bit more; monthly rent for a one-bedroom apartment would be 850 Euros, while two-bedroom apartment costs around 1200 Euros. 

Food 

Eating out in an average restaurant would cost you around 10-13 Euros, while a regular fast-food meal would cost around 7 Euros.

Grocery items are also available if you prefer cooking at home, which is the less expensive option. Basics like milk cost 1.26 Euro for one litre, a dozen eggs cost 1.07 Euro, and a loaf of white bread costs 2.42 Euro. Meat products like a kilo of fresh beef fillet cost 17.95 Euros, a kilo of pork chops cost 13.68 Euros, while a kilo of chicken costs 2.55 Euros. 

Domestic beer in a bar costs 2.46 Euros, while imported beer costs 2.62 Euros. 

Any beautiful experience usually comes with a price. And any expat in Madrid would say the price they pay for the exciting life they lead in this Spanish city is worth every cent. 

Transportation and Utilities 

The primary means of transportation is through buses and subways. 

The Metro de Madrid plays a vital role in the city's transportations system. It is one of the cheapest working metros in Europe and traverses through most of the city. 

Once the ticket is stamped, you'll be able to use the Metro network for as long as you're within the Metro zone. 

If you can't get to your destination through the Metro, a bus can most likely take you there. The main station of night buses is at Plaza de Cibeles, from where a bus leaves every 20 minutes. 

The same ticketing is used for the Metro and the buses. A single ticket is one Euro, while there are tourist tickets that are valid for one to seven days. Price starts at 5.20 Euros to 23.60 Euros. 

Taxis are available but rare. Also, they can be costlier especially if you'd be taking a cab from the airport. Driving a car can also be problematic in Madrid due to daily traffic jams. 

The basic expense on utilities such as electricity, gas, water, and garbage is about 103.33 Euros monthly. This amount may increase, especially during the hot summer months, when you'd find yourself wanting to use the air conditioning system a lot more. 

Keeping Internet services at home with a landline phone costs about 33.33 Euros monthly. 

Recreation 

Madrid is a city rich with history and culture. Museums are a major tourist and expat destination. One must-see museum is the Museo Del Prado which has the finest art collections in the world and the best of Madrid's classical art. A ticket costs 8 Euros. 

And of course, Madrileños and expatriates alike relax during weekends in the various bar districts in the city, alive with a pulsating nightlife. Places like Plaza de Santa Ana, Huertas, La Latina, Gran Via, and Chueca are some of the night destinations.

 

  

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