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EnglishCost of living in Mallorca
- Housing: €600 to €800 a month for a one-bedroom apartment, €800 to €1,100 for three bedrooms, with electricity, water and waste bills that easily exceed €100 a month. New-build property costs €3,200 per m².
- Restaurants: hard to eat out for less than €12.50; around €25 in a well-known restaurant, compared with €9 for a fast-food meal.
- Supermarket: water 1.5 L at €0.91, beer 0.5 L at €3.10, a dozen eggs at €1.66, a kilo of meat at €16.80, a kilo of tomatoes at €1.94.
- Transport: metro or bus ticket at €1.60, monthly pass at €40, and over €10 on average for a 20-minute taxi ride.
- Other expenses: cinema at €8.50, plus €5 to €6 for popcorn and a soft drink, gym around €50 a month, broadband around €40 a month, nursery at €370 a month.
- Key point: the flow of tourists pushes prices up on the island, especially for housing, bars and taxis.
Mallorca is one of the islands most in demand with tourists. Unfortunately, this sends prices soaring on the island. In this article, we give you an approximate budget for living in Mallorca.
Housing
Expect to pay between €600 and €800 to rent an apartment in Mallorca. These figures are for one-bedroom apartments. For a home with 3 bedrooms, prices range between €800 and €1,100 a month.
You should also know that apartment bills (electricity, water, waste) can easily exceed €100 a month.
If you want to buy a property, new-build homes cost €3,200 per square metre.
Food
The many tourists who spend the summer in Mallorca send the prices of bars and restaurants in town soaring. For less than €12.50, it will be very hard to have lunch or dinner in any restaurant in Mallorca. You will need around €25 to sit down for dinner somewhere that already has a name. On the other hand, a meal at KFC or McDonald's will cost you only €9. We looked at supermarket prices in Mallorca; here are the results:
- Water (1.5 L) = €0.91
- Beer (0.5 L) = €3.10
- Dozen eggs = €1.66
- 1 kilo of meat = €16.80
- 1 kg of tomatoes = €1.94
Transport
In Mallorca, you can travel by metro or bus with a ticket costing €1.60. If you use public transport often, get a monthly pass for €40. Taxis on the island are expensive because of the huge number of tourists. For a 20-minute ride, they will charge you more than €10 on average.
Other expenses
If you like spending your afternoons at the cinema, tickets cost around €8.50. If you order popcorn and a soft drink, add another €5 or €6. Gyms cost around €50 on average: that is what you will pay each month for a gym with good facilities. You can get broadband for around €40 a month. You will need to spend €370 a month if you want your child to attend a nursery.
We hope we have answered all your questions. Feel free to contact us for more information if you want to invest in Mallorca.
Source: Vivirenn
Arnaud Attencia is head of Alveo Finance. He supports residents and non-residents with the financing of their property purchase in Spain. He shares his advice on assessing borrowing capacity, planning for the deposit and buying costs, and preparing a mortgage application.
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