Comparison of living costs – Spain vs UK

Spanish Property Insight Forums Spanish Property Forums Real Estate Topics, News & Discussion​ Comparison of living costs – Spain vs UK

This topic contains 7 replies, has 4 voices, and was last updated by  Chopera 5 years, 5 months ago.

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  • #57549

    DBMarcos99
    Participant

    This may be of interest to many here. Bear in mind it takes average figures though.

    http://www.spanish-property-sales.net/cost-of-living-in-spain-vs-uk-infographic#.Ua8HjJzKVai

  • #117275

    katy
    Spectator

    Another one here by a Spaniard living in the UK. He thinks the UK is cheaper. All totally meaningless of course with fluctuating exchange rates. Only true comparisons are like for like Eurozone countries. Then wage rates/income tax have to be taken into account.

    http://elnorthern.com/2013/05/11/comprar-en-el-super-es-mas-caro-en-espana-que-en-uk/

  • #117276

    angie
    Spectator

    Wow, I thought it looked impressive and thought even you Marcos might be thinking of making your long overdue move to Spain, until I read it was from Spanish Property Sales, Expert Property Finders 😆

    Then I noticed despite what looks like considerable savings in Spain, the take home pay in the UK was over 58% higher even with the agent’s figures, probably wipes out the differences 😛

    Not sure about the electricity differential either 🙄

    Of course they failed to put on the list the huge difference on property transactions, so much cheaper in the UK 😉

  • #117277

    katy
    Spectator

    At least the Spaniard has a source to the figures. The property sales one seems to have plucked some of those figures out of a hat 😆

  • #117279

    angie
    Spectator

    He’s a real trier though, got to give him his due there, I think he might mean well, but honestly I’d pack my bags and go to Madrid if I felt so strongly about it 😛

  • #117280

    Chopera
    Participant

    Spain is noticeably cheaper when it comes to public transport and children.

    Public transport in Madrid zone A costs €53 for a 30 day pass (bus and train).

    A full time nursery costs us €390/month, and the council gives us €100/month to contribute towards it.

    A child minder typically charges €5/hour.

  • #117282

    angie
    Spectator

    Can someone explain the Capital Gains Tax situation on own homes in Spain? In the UK this doesn’t apply to your own property, but I think it is paid on homes in Spain unless resident or continually re-invested in property for so many years, or age over 65 and resident 3 years. I’ve read it can go up to 30% of any profit on a sale of property. UK system seems a lot easier to grasp, ie ‘none’, unless on multiple properties 🙄

  • #117283

    Chopera
    Participant

    @angie wrote:

    Can someone explain the Capital Gains Tax situation on own homes in Spain? In the UK this doesn’t apply to your own property, but I think it is paid on homes in Spain unless resident or continually re-invested in property for so many years, or age over 65 and resident 3 years. I’ve read it can go up to 30% of any profit on a sale of property. UK system seems a lot easier to grasp, ie ‘none’, unless on multiple properties 🙄

    I think what you’ve said is broadly correct. As you say, the main difference is that in Spain you can end up paying CGT on your main residence if you sell it and then don’t buy another property within a certain timeframe (maybe 6 months). As I’ve mentioned elsewhere this might catch a lot of people out in the future if they sell their UK property in the same year that they become tax resident in Spain. Especially with the asset declaration requirements. Unless they buy a Spanish property pretty soon they could get stung for CGT by Hacienda.

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