Cost of Living in San Marino

Money

Foreign nationals planning to live or retire in San Marino should take note that cost of living in the country is expensive. San Marino is ranked 21^stmost expensive country to live in out of 276 locations all over the world.

Buying Real Estate

The real estate industry of San Marino is considered as a prospering sector of the country that offers building solution for official accommodations, residential complexes and hotels. San Marino’s government does not have any restrictions on foreign nationals who wish to purchase real estate in the country. However, they need an authorizatioupn from the Council of Twelve which consists of two Captain Regents and other Parliamentarian members. Property prices in San Marino can range from €300,000for a four-bedroom house with three bathrooms, up to €1,000,000 for a five-bedroom house with seven bathrooms.

Renting

The prices of rental accommodation in San Marino vary according to the location, but since the country is relatively small, there are only a few choices. Rental costs can range from €600 to €800 for a one-bedroom apartment in the city center, while a similar-sized one outside the city center can cost about €350 to €500 a month. Three-bedroom apartments in the city center costs approximately €900 to €1,600, and a similar-sized one outside of the city costs about €700 to €1,100 a month.

Utilities

Prices of basic utilities in San Marino such as electricity, water, heating and garbage cost about €150 to €230.

Food Consumption

Eating on a budget at an inexpensive restaurant in San Marino costs approximately €10, while meals at a mid-range restaurant cost about €25.

Transportation

Since San Marino is small, the country has very limited public transport facilities, mostly buses and taxis. Majority of the Sammarinese people drive their own vehicles. Gasoline prices in San Marino are said to be a little cheaper than in Italy, about €1 per liter. One-way bus tickets from Rimini to San Marino cost about €4, while taxis can cost as much as €40.

Taxation

Sammarinese and foreign national workers employed in San Marino are subject to pay individual income tax based on their income brackets. The tax rate of the country is on a progressive scale, starting from 12% up to 50%, while corporations are subject to a flat rate of 24%. San Marino also levies mortgage tax, registration tax, stamp duty and succession duty.