What Is The Cost Of Living In Mallorca?
May 13, 2023Ready to move to Mallorca? Then take a look at the cost of living in Mallorca. In this article, we will give you all the major and minor expenses like the cost of health, food, housing, fitness, internet, utility, etc. Mallorca is the largest island in the Balearic Islands, which are part of Spain, and the 7th Largest island in the Mediterranean Sea. Mallorca is popularly known for its beautiful coastline, secluded cove, limestone mountains, Spanish architecture, wineries and fresh produce farms, and stunning beaches. From quaint mountain villages to dynamic nightclubs, you will have no trouble finding an adventure that matches your mood and liking. Let’s come to the cost of living in Mallorca.
What Is The Cost Of Living In Mallorca?
The cost of living in Mallorca is $1377 for a single person per month and $3136 for a family of 4 of one couple and two children, per month. While the cost of living in Palma de Mallorca without rent for a single person is $591 per month and for a family of four is $1864 per month. Below, we have mentioned a table showing the cost of living in Mallorca Spain as compared with the cost of living in the United States.
| Cost Of Living For | Mallorca | USA |
|---|---|---|
| Food | $12.89 | $15.20 |
| Transportation | $38.92 | $64.19 |
| Internet | $44.05 | $68.65 |
| 1-Bedroom Apartment Rent | $904.66 | $1,446.14 |
| Health | $109.56 | $560 |
| Utilities | $98.61 | $366 |
Home Rent
Living in Mallorca pros and cons are various and one of the cons among them is the higher cost of housing. When you see the cost of living in Mallorca vs US, you will find Mallorca more expensive because of the increasing cost of housing. It was reported that the average cost of an 85 sq mi apartment during 2022 was 605 Euro in the Balearic Islands, the reality is very different. But in 2023, you will be lucky to find a two-bedroom 85 sq mi apartment for less than 1,100 Euro in and around sought-after Palma city. Here are the rents for one and two-bedroom apartments in the different cities across the state.
| City | Approx 1 Bedroom Rent | Approx 2 Bedroom Rent |
|---|---|---|
| Malaga | $1,633 | $2,107 |
| Barcelona | $1,100,343 | $1,843,222 |
| Madrid | $2,264,530 | $3,649,580 |
| Valencia | $279,117 | $446,586 |
| Cordoba | $19,000 | $101,114 |
Food Cost
Food cost is also one of the major expenses in the cost of living. In Mallorca, the cost of food starts from around 10 Euro in some areas around the Island. Some restaurants will have a similar concept for an evening meal. Check if this includes a drink, otherwise expect to factor in another 5 Euro to 10 Euro depending on what you like to drink or how much you like to drink. Here is a table showing you the approximate cost of dinner for two people in the different areas within the island. This will give you an idea of food and drink prices in Palma Nova and also the restaurant prices in Palma de Mallorca.
| City | Approx Dinner Cost For 2 |
|---|---|
| Malaga | $42 |
| Barcelona | $53 |
| Madrid | $29 |
| Valencia | $105 |
| Valencia | $64 |
Travel Cost
In Mallorca, the cost of a single ticket is around 1,80 euros, which is valid for only one passenger and is not valid for transfer to other bus lines. This ticket is also for one day, on the second day you need to buy a new one. Using public transport in Mallorca is the cheapest way to get around the island and is a good option if you need to get around the capital, Palma, which has an extensive bus network.
Other Expenses
Other than the cost of food and transportation there are also other expenses in life and they are fitness, health, internet, utility, taxes, entertainment, etc. Let’s take a look at them.
Health Care
The state healthcare system is great here on the island but you do need to be registered with the social security system and the town hall in your area to access this. And it is free, and you will have to pay for prescription medicine in the pharmacies.
Utility Bills
The cost of living in Mallorca per month can be affected due to the cost of utility bills. In Mallorca, the cost of electricity has remained pretty much the same for 2022 and going into 2023. Even during summer months when people used the air conditioning a little more, especially during work from home, they didn’t find that much of a difference in their electricity bill.
Internet Bills
A plan of 1,000 Mbps from Google Fiber 1 Gig will cost you $70 per month while a plan of 940 Mbps from Verizon Fios Gigabit Connection will cost you *89.99 per month. Similarly, the cost of a plan from CenturyLink Fiber Internet is $70 per month.
Fitness
In Mallorca, many private gyms cost you around 50 Euro per month. There are also municipalities’ gyms. For the best value, you can join the municipal sports centres all over the island in Psalms for example, you can buy a yearly membership for 136 Euro and use any of the swimming pools and gyms which is fantastic value.
Entertainment
The cost of entertainment is not fixed here in Mallorca, but you can enjoy many free-of-cost places. There are also various affordable places. The average price of entertainment for a single person is 27 euros per day.
Taxes
In Mallorca, the rate of tax has been 1.5% since 1 January 2020 instead of the previous 1.2%. The old tax rate will remain the same if the purchase of the first home is less than 200,000 euros. The deadline for payment of the stamp duty is 1 month after the notarial deed.
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FAQ
Is It Expensive To Live In Majorca?
The Cost of Living in Mallorca – How much to budget
I would recommend budgeting extra for emergencies, so better to budget around 1000€ a month. A Family of Four living in Mallorca: I would recommend a family of four budget at least 3,000€ for a month without rent and private schools in Mallorca.
Is Majorca Cheaper Than Barcelona?
Cost of living in Palma de Mallorca (Spain) is 7% cheaper than in Barcelona (Spain)
Why Is Majorca So Expensive?
The rises are partly due to the cost of living crisis which is squeezing standards if living across the Continent, but are particularly keenly felt on holiday islands. Another reason is the purposeful drive by tourism bosses in destinations including Majorca to capture a more wealthy group of tourists.
Is Majorca A Good Place To Live?
Is it safe to live in Mallorca? Yes, Mallorca is a generally safe place to live with low rates of crime. Of course, there are greater concerns during the tourist season, as is the case with any popular destination. But, even during peak times, its crime rate is low.
Conclusion
In this article, you have understood the cost of living in Mallorca compared to Spain and the Majorca food and drink prices. Now, if you ask, is Mallorca expensive to Live? The answer will be, Yes, Mallorca is an expensive place to live but it offers you a good quality of life. Mallorca is a good place to live because it offers all the benefits of a Mediterranean lifestyle, along with stable investment opportunities and interesting history and culture. If you forgot the cost of living in Mallorca for a while, Mallorca is everyone’s dream place to live in.
