Thursday, July 9, 2020
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Madrid and Barcelona Become More Attractive for Expats as they Fall Down the Ranking of the Most Expensive Cities to Live In

Madrid and Barcelona have gained in their competitiveness to attract talent, by descending five and eleven places, respectively, in the ranking of the most expensive cities to live in around the world compiled by Mercer.

According to the latest annual Cost of Living Report for 2020 compiled by the consulting firm Mercer, Madrid now stands at number 87 in the ranking. As such, it is the cheapest capital to live in of the four largest European Union countries, ahead of Berlin (82), Rome (65) and Paris (50), but behind neighbouring Lisbon (106) and Athens (138). This makes it more attractive for expatriates and better positioned in terms of its competitiveness compared to other large cities.

As for Barcelona, ​​this year it is positioned in 102nd place, which means that it has more competitive prices than other large European non-capital cities such as Milan (47), Munich (72), Frankfurt (76) and Dusseldorf (100).


House Prices in Madrid Rise by More Than 45% in Five Years

The average home cost 295,927 euros in the Spanish capital at the end of March, compared to 165,280 euros on average in Spain.

How Much Does it Cost to Rent a Home in Your Area According to the Government’s Statistics?

The map prepared by Brains RE using data from the Ministry of Development's index reveals the rental prices in each municipality in Spain; and they vary quite a lot compared to other indicators.

Where are the Most Expensive Homes in Spain?

25 Spanish towns registered house sales costing more than 3,300 euros per square metre during the first quarter, including eight municipalities in the Balearic Islands.

House Sales Reach their Highest Prices in 8 Years

Homes sold during the first quarter of 2020 registered the highest prices seen in the last eight years, with an average of 1,747 euros per square metre; four autonomous regions accounted for 70% of the total sales volume.

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