Is it cheaper to live in Mallorca, Spain, or UK — 2023 prices comparison

Mallorca is one of the most popular destinations for holidays, tourism, and property purchases among Brits, Europeans, and Scandinavians. So many people are concerned about the prices and costs of living in Mallorca.

The real estate experts at Yes! Mallorca has prepared this essential overview of living costs. 

Contents: 

1. Why Majorca?

2. The cost of living in Mallorca compared to the UK.

1. Consumer Prices
2. Transport costs
3. Utility costs
4. Childcare
5. Clothing and Shoes
6. Rental costs 
7. Buy Property Price
8. Health and Insurance

3. Electricity cost in Mallorca

4. How much does petrol cost in Mallorca?
   

5. Salaries And Financing 

6. How much money do I need to immigrate to Mallorca?

7. Example of calculating the amount of money to move from the UK to Mallorca
   
8. How much does it cost to live in Mallorca for three months
9. Where is it cheaper to live in Mallorca, Spain, or the UK?

Why Mallorca?

The Balearic Islands is the region with the highest percentage of foreigners of any Spanish autonomy. 18.8% of all inhabitants of the Balearic Islands are foreigners.

Mallorca, the capital of BI, attracts the most foreigners. According to the National Institute for Statistics (INE), there will be a total of 1,176,000 inhabitants registered in Mallorca in 2022. 55.99% of them are native Mallorcan residents. 20.2% of Mallorca residents are Spanish citizens who have moved here from other autonomies. And 23.8% are expats officially registered on the island.

Citizens of which countries own property in Mallorca?

County	Number of citizens officially registered in Mallorca
Germany	23.932
United Kingdom	19.538
Italy	22.078
Austria	1.019
The Netherlands	3.045
Switzerland	1.212
Belgium	1.368
Ukraine	2.104
France	6.877
Portugal	1.964

UK citizens are traditionally one of the largest groups of foreigners who own property in Mallorca. So, they need to know the price of living in Mallorca. Rising inflation and energy costs make this question even more critical. Many British residents wonder how cheap or expensive it is to live in Mallorca compared to the UK.

This article answers popular questions about the cost of living in Mallorca.

1. Is it expensive to live in Majorca?

2. How much money do you need to emigrate to Majorca?

3. Is Majorca more expensive than England?

4. How much does electricity cost in Majorca?

5. How much does petrol cost in Majorca?

6. The cost of living in Mallorca 2022.

7. How much does it cost to live in Majorca for three months?

8. Where is it cheaper to live - in the UK or Mallorca? 

The cost of living in Mallorca compared to the UK

To understand how cheaper it is to live in Majorca than in the UK, the first thing to do is compare daily expenses. And prices for basic costs are the same across the Majorca island. In the UK,  living prices can vary depending on the city in which you live. Therefore, for a more accurate analysis, we compare the island of Majorca and three cities in the United Kingdom: London, Birmingham, and Glasgow.

Prices of living in different categories (according to the Numbeo analytical portal for September 2022):

1.     Consumer prices

	Mallorca	London	Birmingham	Glasgow
Milk (regular), (1 liter)	0.94 €	1.30 €	1.13 €	1.10 €
Loaf of Fresh White Bread (500g)	1.02 €	1.24 €	1.11 €	1.15 €
Eggs (regular) (12)	2.58 €	2.92 €	2.19 €	2.44 €
Chicken Fillets (1kg)	6.10 €	7.70 €	6.10 €	6.97 €
Beef Round (1kg) (or Equivalent Back Leg Red Meat)	10. 44 €	11.74 €	8.78 €	10.62 €
Apples (1kg)	2.05 €	2.38 €	2.05 €	2.14 €
Tomato (1kg)	1.78 €	2.81 €	2.17 €	2.12 €
Potato (1kg)	1.17 €	1.23 €	2.09 €	1.08 €
Water (1.5 liter bottle)	0.75 €	1.30 €	1.15 €	0.97 €
Bottle of Wine (Mid-Range)	5.00 €	10.22 €	8.00 €	8.52 €
Domestic Beer (0.5 liter bottle)	0.87 €	2.29 €	1.86 €	1.82 €
Imported Beer (0.33 liter bottle)	1.40 €	2.71 €	1.86 €	2.25 €
Cigarettes 20 Pack (Marlboro)	5.10 €	14.76 €	14.06 €	14.48 €

In six months (since August 2022) the prices of a number of products in Mallorca have increased by up to 10%. For example, foodstuffs such as milk, bread, eggs and imported beer. For a number of products the prices have remained the same or fallen slightly: chicken, beef, apples, tomatoes and drinking water. For some food products, like potatoes, the price went down by as much as 9.4%. Cigarettes went up by 1% of the price compared to August 2022.

In London, within the last six months, prices were the following:

• ·       Milk +4.6%,

• ·       Bread +3.2%,

• ·       Eggs +8.2%, c

• ·       Chicken +2.9%

• ·       Wine +10.5%

Beef and potatoes fell in price by 5.6%, and apples by 2.5%. Fees for other foodstuffs, which make up the standard consumer basket, remained unchanged.

In the City of Birmingham, the average cost of food rose by 5.76% over the six months.

Tomatoes rose the most, increasing in price by as much as 42% in the last six months. Milk went up more than 10.6%. Other foodstuffs also rose in price by no more than 4.3%.

Good news for Glaswegians. The price increase here over the last six months has been almost invisible. It's been in the 2% to 3% range. The overall increase in food prices was only 1%.

The average increase in food prices in Mallorca from August 2022 to January 2023 was 2.3%. Over the same time, food prices rose 1.2% in London and 5.8% in Birmingham. In Glasgow, prices rose by an average of 1%.

However, it is worth noting that the cost of goods in major UK cities is, on average, 40% higher than in Mallorca.

2.     Transportation

	Mallorca	London	Birmingham	Glasgow
One-way Ticket (Local Transport)	2.00 €	3.20 €	2.74 €	2.86 €
Taxi Start (Normal Tariff)	3.50 €	5.00 €	2.52 €	3.41 €
Taxi 1km (Normal Tariff)	1.17 €	1.94 €	1.28 €	1.30 €
Gasoline (1 liter)	1.69 €	2.21 €	1.81 €	1.82 €

Taxi fares in Mallorca have risen by 17.09% per kilometre. In London and Birmingham, taxi fares remained unchanged. In Glasgow, the cost increased by 13%.

Fuel costs in Mallorca have risen by an average of 7.1% over the last six months. In London, fuel prices have increased to 9.5%. In Birmingham and Glasgow, fuel prices have remained unchanged over the past six months.

Transport costs are also much lower in Mallorca than in the UK.

The cost of petrol in Mallorca is 10% lower than in British cities. Taxi fares in Mallorca are 30% cheaper than in London.

3.     Utility Costs

	Mallorca	London	Birmingham	Glasgow
Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment	180.31 €	306.90 €	212.36 €	249,11 €
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans)	0.27 €	0.15 €	0.16 €	0.11 €
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL)	38,78 €	34.20 €	30.14 €	2.50 €

Against the backdrop of the energy crisis in Europe, one of the significant price increases has been in electricity costs. The cost of electricity in Mallorca rose by an impressive 23.8% between August 2022 and January 2023, in London by 9%, in Birmingham, the price remained unchanged, and in Glasgow by 21.2%.

At the same time, the nominal cost of electricity in British cities is almost double that of Mallorca.

Other costs remained at the same level as six months ago.

4.     Childcare 

	Mallorca	London	Birmingham	Glasgow
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child	380.00 €	1,801.92 €	1,130.73 €	758.96 €
International Primary School, Yearly for 1 Child	12,200.00 €	21,514.70 €	16,198.71 €	12,768.40 €

The cost of educational services increased by 4.8% in Mallorca. The price of children's education has remained the same in UK cities. However, the difference in cost remains enormous. Even with the increase in the price of educational institutions, the cost of this service in Mallorca is at least two times lower.

That said, there are quite a few famous British public schools on the island which will cost you less than in the UK.

Read more about private and public schools in Mallorca in our article: International, public, and private schools in Mallorca to consider in 2023

5.    Clothing And Shoes

	Mallorca	London	Birmingham	Glasgow
1 Pair of Jeans (Levis 501 Or Similar)	68.00 €	87.28 €	73.69 €	73.56 €
1 Summer Dress in a Chain Store (Zara, H&M, ...)	28.75 €	39.54 €	33.49 €	30.49 €
1 Pair of Nike Running Shoes (Mid-Range)	63.00 €	85.78 €	82.90 €	78.61 €
1 Pair of Men Leather Business Shoes	98.12 €	109.46 €	75.75 €	68.61 €

Spending on clothing increased by 1.9% in Mallorca over the first six months.  In the UK, clothing expenditure remained flat.
At the same time, the cost of clothing expenditure in Mallorca is roughly the same as in the UK.

6.    Rent Apartment Price 

	Mallorca	London	Birmingham	Glasgow
Apartment (1 bedroom) in City Centre	858.33 €	2,273.93 €	916.79 €	902.06 €
Apartment (1 bedroom) Outside of Centre	671.67 €	1,617.36 €	702.40 €	709.59 €
Apartment (3 bedrooms) in City Centre	1,371.43 €	3,968.43 €	2,007.60 €	1,620.14
Apartment (3 bedrooms) Outside of Centre	1,107.67 €	2,735.43 €	1,218.79 €	1,125.46 €

Rental prices in Mallorca fell slightly in January 2023. The difference was -7% due to a seasonal factor. By April 2023, we predict the seasonal price increase.

 Rental prices in London increased by 5%, and prices in Glasgow increased by 2%. In Birmingham, rental prices have fallen sharply by 17%. The reason is lower demand and high costs in the local property market.

Although Mallorca is one of Spain's most "expensive" regions, the cost of renting a home here is lower than in UK cities. The same is with the buying property prices. Mallorca's property prices are 2-3 lower than in the UK.

7.   Buy Apartment Price 

	Mallorca	London	Birmingham	Glasgow
Price per Square Meter to Buy Apartment in City Centre	4,000.00 €	13,657.81 €	6,420.50 €	5,317.28 €
Price per Square Meter to Buy Apartment Outside of Centre	3,200.00 €	8,347.80 €	3,748.30 €	2,609.41 €

Mallorca's cost per square metre rose by 6% in 6 months.

In London, the price per square metre fell by 5.14%. In Birmingham, the property market has remained unchanged. In Glasgow, the property has lost 2% in six months.

This fact again shows how stable is the real estate market in Mallorca. Please read more information about the real estate market in Mallorca in our report.

8.    Health and Insurance

	Mallorca	The UK
Medical Insurance	From 37 ,60 €/month	From 180 €/ month

On a positive note, the cost of private medical insurance has remained unchanged over the past six months.

Electricity cost in Mallorca

Electricity and fuel costs are rising in 2022 throughout Europe and the UK.

Energy Suppliers in Mallorca provide flexible tariffs for electricity consumption as follows:

1. A flat-rate tariff based on the kilowatts you use and the power you consume. Here's a flat-rate price example from one of Mallorca's leading energy company — Endesa:

15-30kW:	30-50kW:	50-100kW:
·       0,192699 €/kWh ·       0,172904 €/kWh ·       0,129289 €/kWh	·       0,188567 €/kWh ·       0,168758 €/kWh ·       0,125166 €/kWh	·       0,185322 €/kWh ·       0,165525 €/kWh ·       0,121922 €/kWh

2. Variable or floating energy rate - the prices vary during the day. For example, the price is lower at nigth than during the day. Energy company gives you a chance to save money if you use appliances like the washing machine, dishwasher, etc., in hours when your electricity tariff is cheaper.

• Maximum value: 0.2133 €/kWh has almost doubled in the last six months from 0.10787 €/kWh

• Average: 0.1638 €/kWh. Price over six months increased by 38% from 0.10131 €/kWh

• Minimum value: 0,11464 €/kWh. From August 2022 to January 2023, the price increased by 33% from 0.07664 €/kWh

3. A flexible tariff means the price depends on your behavior. The company defines the hour in the day when you use electricity the most and sets a discount for that hour. The cost per kilowatt goes up during the lowest hour of consumption.

We recommend contacting your electricity provider for more detailed advice to find the most suitable tariff for you.

What time is the electricity in Mallorca cheaper?

Suppose you like to save money and you are a practical person. In that case, you will probably choose a floating rate electricity tariff when you buy a property in Mallorca. But how do you know when electricity consumption will be cheaper for you?

It is straightforward and quite logical:

Electricity in Spain is cheaper when it is used less. That is, at night.

The tariff is at a reduced price from 22:00 to 12:00 in the winter and from 23:00 to 13:00 in the summer.

From 1 a.m. to 7 a.m. is the cheapest period.

Use your electricity wisely! Program your washing machine and dishwasher to run at the lowest electricity tariff. Then you can save up to 35% on your Mallorca electricity bill.

Electricity prices in Mallorca by hours

Hour	Price
00:00 h	0,14667 €/kWh
01:00 h	0,13049 €/kWh
02:00 h	0,11624 €/kWh
03:00 h	0,11483 €/kWh
04:00 h	0,11464 €/kWh
05:00 h	0,11749 €/kWh
06:00 h	0,12441 €/kWh
07:00 h	0,14215 €/kWh
08:00 h	0,20264 €/kWh
09:00 h	0,17439 €/kWh
10:00 h	0,19729 €/kWh
11:00 h	0,17296 €/kWh
12:00 h	0,17053 €/kWh
13:00 h	0,17015 €/kWh
14:00 h	0,12442 €/kWh
15:00 h	0,12591 €/kWh
16:00 h	0,12559 €/kWh
17:00 h	0,15789 €/kWh
18:00 h	0,23187 €/kWh
19:00 h	0,3426 €/kWh
20:00 h	0,32112 €/kWh
21:00 h	0,23245 €/kWh
22:00 h	0,15706 €/kWh
23:00 h	0,13182 €/kWh

How much does petrol cost in Mallorca?

One of the most pressing issues for Europeans today is car fuel cost. The popular REPSOL chain of petrol stations in Mallorca offers fuel at the following rates (as of Jan 2023):

• ·       Petrol 95 - €1.759 per litre. The cost has been reduced by 8.5% from €1.899 per litre

• ·       Diesel A - €1.779 per litre. The price has decreased by 10.6% from €1.909 per litre

• ·       Gasoline 98 - 1.919 euros per litre. The cost has decreased by 8.3% from €2.059 per litre.

The price ratios for the different fuel types are the same as at the other fuel stations in Spain. 

You can also get an extra 5 to 10 cents off a liter of fuel if you use the Mallorca petrol station mobile app, where you often fill up your car. Altogether, with all these discounts, the price of a liter of petrol-95 will come to 1.57 €/liter.

In addition, Mallorca is an island. The distances to the necessary infrastructure are not extended. And hence the car's mileage is less, and the fuel consumption is lower.

Wrapping it up

The amount to maintain an average standard of living in London will be 6,025.6 euros. In Birmingham, your living expenses will be 3,786.0 euros. A month of living in Glasgow would cost 3,871.8 euros. For the same standard of living in Mallorca, you would need 3,400 euros. That includes not only your daily costs but also the cost of renting a place to live in Mallorca.

The critical point is that even six months ago, the amount calculated to maintain a standard of living in British cities was higher. This calculation was cited by the analytical portal Nubeo. This fact can tell us how much the standard of living in the UK has fallen since the beginning of the energy crisis in Europe because of the military conflict in Ukraine.

However, these locations' average monthly income levels are also very different.

Salaries And Financing

	Mallorca	London	Birmingham	Glasgow
Average Monthly Net Salary (After Tax)	1,579.17€	3,092.62€	2,519.20€	2,702.48€
Annual percentage rate of charge (20-year fixed mortgage rate)	2.97%	3.49%	3.05%	3.72%

Most UK citizens living in Majorca continue to earn or receive money from the UK. For example, freelancers, senior managers of UK companies, business owners, IT, designers, and retired people.

Earnings in the UK are incomparably higher than in Majorca. At the same time, Mallorca is cheaper to live. Therefore, if the income is generated in the UK, it is more profitable to live in Majorca. But also keep in mind the tax residency. Before deciding, we recommend consulting your tax advisor to avoid problems with the country and the amount of taxes to pay.

How much money do I need to emigrate to Majorca?

The cost of living in Majorca, Spain, is lower than in the UK.

But it would be best if you also considered the extra costs of moving to Mallorca. 

We have prepared information for you on the possible extra costs related to moving to Mallorca from the UK.

Extra-costs of moving from the UK to Majorca, Spain 

	Cost
Flight tickets	€ 53— 221
Car rental (high season)	From € 65 per day
Car rental (low season)	From € 30 per day
Hotel room for one night. Four stars	From € 100
Average property price	3.706 €/m2
Long-term apartment rentals	13,8 €/m2
Rental Bond	The price of 2 months of rental
Broker’commission for rental contract	The price of 2 months of rental
NIE Obtaining	€150
Account Opening in a Spanish Bank	Depends on the bank. Can be free.
Spanish Course	€ 5 – 20 per hour
Household shipping	From € 1.200 for box up to 100 kg
Home internet contract	From € 52

Сost of moving from the UK to Majorca

Example (2 adults)

	Cost per 2 persons
Flight tickets	€120
Car rental per month (low season)	€ 1.000 /month
2-bedroom apartment rental	€13.400 per year (€1.120/month)
Broker’s commission	€ 2.240 (one-time fee)
Rental Bond	€ 2.240 (one-time fee)
NIE	€ 300
Household Shipping	€ 1.200
Internet contract	€ 600 per year
Spanish language course, 2 hours per week	€ 320 per month (1year )
Totally	€ 21.300

Note: When planning to rent a property in Mallorca, it is best to have a minimum amount equal to 1 year's rent. The landlord may ask for an appropriate "bank confirmation" of sufficient funds for a long-term lease. Therefore the rent amount is multiplied by 12 months.

A Spanish language course involves attending a tutor twice a week for 1 hour. The total for two people is 16 hours per month. The minimum duration of the Spanish course would be one year. Consequently, you need 2,880 Euros per year to study Spanish with a professional tutor.

Consequently, a family of two adults should have 21,300 euros on hand to move to Majorca comfortably and adapt to local life.

How much does it cost to live in Mallorca for three months?

Mallorca is one of Europe's top resorts. Europeans apparently decide to buy a property in Mallorca after spending a  holiday on the island. Most of them buy the property as a second residence to live for a few months per year. It's usually a few weeks during the Easter and summer holidays and Christmas time.

During the summer months, living expenses are limited to the grocery basket, filling up the car, and going out to restaurants. The living cost for one person would be  €550 - 600 per month (if you own a dwelling). If you plan to rent a property in Mallorca in the summer, the minimum price would be 1.500 euros per month.

During the winter, those who enjoy a quiet holiday in Mallorca would have a discount on property rental. In the off-season, renting a property in Mallorca can be 650 - 700 euros per month (for a 1-bedroom apartment). However, most grocery shops, petrol stations, and restaurants will reduce prices by 10% - 15% during winter. The monthly cost of living in Mallorca for one person per month during winter would be 500 euros.

Note: The monthly amount depends on the living standard and your demands. The calculation is based on everyday food consumption, visiting a restaurant once a week, and moderate car fuel using.

Where is it cheaper to live in Mallorca, Spain, or the UK? 

1. Consumer prices in Mallorca are 40.2% lower than in London (excluding rents).

2. Consumer prices, including rent, in Mallorca, are 77.2% lower than in London

3. Rental prices in Mallorca are 166.2% lower than in London

4. Mallorca restaurant prices are 44.7% lower than in London

5. Food prices in Mallorca are 26.1% lower than in London

*based on Numbeo data

The quality of life in Mallorca is very high. You can enjoy a healthy, warm climate and outdoor activities throughout the year.

Living in Mallorca is cheaper compared to the UK and many other European countries. But to live here, you need to get your own home in Mallorca or rent it out.

We are here to help! Yes! Mallorca Property helps you buy or rent a Mallorca property.

We have excellent customer reviews on Google (five-starts). We will help you buy or sell your Mallorca property fast, safely, and profitably. Contact us today! 

British Consulate Palma de Mallorca
Real estate agent in Mallorca