| Category | Cost |
|---|---|
| Apartment Rental (1 bedroom in City Centre) | €800 – €1,200 per month |
| Apartment Rental (1 bedroom Outside of Centre) | €600 – €900 per month |
| Apartment Purchase Price (City Centre) | €3,000 – €5,000 per square meter |
| Apartment Purchase Price (Outside of Centre) | €2,000 – €3,500 per square meter |
| Public Transportation (Monthly Pass) | €40 |
| Taxi (Normal Tariff) | €1.50 per km |
| Groceries (Milk, Bread, Eggs, Fruits, Vegetables, Chicken, Beef) | €50 – €100 per week |
| Meal at an Inexpensive Restaurant | €10 – €15 |
| Meal for 2 People, Mid-range Restaurant, Three-course | €40 – €60 |
| Utilities (Electricity, Heating, Cooling, Water, Garbage) | €100 – €150 per month |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | €30 – €50 per month |
| Private Preschool (or Kindergarten), Full Day, per Month | €300 – €500 |
| Private Primary School, per Year | €4,000 – €8,000 |
| Private Middle School, per Year | €6,000 – €10,000 |
| Private High School, per Year | €8,000 – €12,000 |
Monthly Budget for Retirees in Palma de Mallorca
“The cost of living in Palma de Mallorca, is considered to be relatively high compared to other Spanish cities, but it is still lower than in many major European cities. The cost of housing can vary greatly depending on the location and size of the property, with apartments in the city center being more expensive than those in the outskirts. Utilities such as electricity, water, and internet are also a significant part of the monthly budget. The cost of food in Palma de Mallorca is reasonable, with a wide range of prices available depending on whether one chooses to shop at local markets or larger supermarkets. Eating out at restaurants can be quite affordable, especially if one opts for the daily menu at local eateries. However, dining at high-end restaurants or in touristy areas can be quite expensive. Public transportation in Palma de Mallorca is relatively affordable and efficient, but owning a car can significantly increase living costs due to fuel, insurance, and parking costs. Healthcare in Spain is generally of high quality and is free for residents, although private health insurance can also be purchased for a fee. Overall, while the cost of living in Palma de Mallorca can be high compared to other parts of Spain, it is still possible to live comfortably with careful budgeting,” said one expat living in Palma de Mallorca.
Can I live in Palma de Mallorca on $1,500 a month?
“I’ve been living in Palma de Mallorca for a few years now and I can tell you that living on $1,500 a month is possible, but it will require some budgeting and sacrifices. The cost of living here is lower than in many other European cities, but it’s not exactly cheap either. The biggest expense will be housing. If you want to live in the city center or in popular neighborhoods like Santa Catalina or Portixol, you’ll probably have to spend at least $800-$900 on rent for a small apartment. These areas are very popular and the prices reflect that. However, if you’re willing to live a bit further out, in neighborhoods like Son Ferriol or Son Cladera, you can find cheaper options, maybe around $600-$700. These areas are still well-connected to the city center by public transport. After housing, your next biggest expense will probably be food. If you eat out a lot, it can get expensive. But if you cook at home and shop at local markets, you can keep your food budget under $300 a month. I usually shop at Mercat de l’Olivar or Mercat de Pere Garau, where you can find fresh produce at reasonable prices. Utilities like electricity, water, and internet will probably cost you around $100-$150 a month. Public transport is quite affordable, a monthly pass costs around $40. If you have a car, keep in mind that gas is quite expensive and parking can be a hassle in the city center. As for entertainment, there are plenty of free or low-cost activities in Palma. The city has beautiful beaches, parks, and hiking trails. There are also many free cultural events, especially in the summer. So, to sum up, living in Palma on $1,500 a month is doable, but you’ll have to budget carefully and make some sacrifices. You probably won’t be able to afford a fancy apartment in the city center or eat out every night, but you can still enjoy a comfortable lifestyle,” commented an expat living in Palma de Mallorca.
Can I live in Palma de Mallorca on $3,500 a month?
“I’ve been living in Palma de Mallorca for a few years now and I can tell you that it’s definitely possible to live comfortably on $3,000 a month, but it does require some careful budgeting and lifestyle adjustments. The cost of living here is lower than in many other European cities, but it’s not exactly cheap either. The biggest expense is housing. If you want to live in the city center or in upscale neighborhoods like Son Vida or Portixol, you’ll have to pay a premium. A one-bedroom apartment in these areas can easily cost over $1,000 a month. However, there are more affordable options in neighborhoods like El Terreno, Santa Catalina, or Son Armadams where you can find a decent one-bedroom apartment for around $700-$800 a month. Food is relatively affordable, especially if you shop at local markets and cook at home. Eating out can be expensive, especially in touristy areas, but there are plenty of affordable local restaurants if you know where to look. Transportation is also quite affordable. The public transportation system is reliable and a monthly pass costs around $40. If you prefer to drive, keep in mind that gas prices are higher than in the U.S. Healthcare is another factor to consider. If you’re working here, you’ll be covered by the Spanish healthcare system which is quite good. If not, you’ll need to get private health insurance which can cost anywhere from $50 to $200 a month depending on your age and health condition. As for entertainment, there are plenty of free or low-cost activities to enjoy. The beaches are free, there are beautiful hiking trails, and the city has many parks and museums. However, if you’re into high-end nightlife or want to regularly attend concerts or other big events, that can add up. In terms of sacrifices, you might have to give up certain luxuries like eating out regularly, having a large apartment in a prime location, or owning a car. But in return, you get to live in a beautiful Mediterranean city with a rich culture and history, great weather, and a relaxed lifestyle. It’s all about priorities and what you value most in life,” said one expat living in Palma de Mallorca.
Can I live in Palma de Mallorca on $5,000 a month?
“I’ve been living in Palma de Mallorca for a few years now and I can tell you that living on $5,000 a month is definitely doable, even with a taste for modern amenities. However, you’ll need to be smart about your spending and where you choose to live. The city center, for example, is quite expensive, especially areas like Paseo Maritimo and Santa Catalina. These are trendy, upscale neighborhoods with a lot of restaurants, bars, and shops, but the cost of living there can be high. If you’re looking to save, I’d recommend looking at neighborhoods a bit further out, like Son Armadams or El Terreno. These areas are still very nice, but the cost of rent is significantly lower. In terms of other expenses, groceries can be quite affordable if you shop at local markets and avoid imported goods. Eating out can be pricey, especially in touristy areas, but there are plenty of affordable local spots if you know where to look. Public transportation is also quite good and much cheaper than owning a car. One thing to keep in mind is that while utilities like water and electricity are generally not too expensive, the cost can spike in the summer months due to the use of air conditioning. So, it’s a good idea to budget a bit extra for that. In terms of sacrifices, you might have to give up certain luxuries like eating out frequently or living in the most central locations. But in my experience, the quality of life in Palma de Mallorca is so high that these sacrifices are more than worth it. The beautiful beaches, the relaxed lifestyle, the friendly locals – it all more than makes up for any minor inconveniences. In the end, it’s all about finding a balance that works for you. If you’re smart about your spending and willing to make a few compromises, I think you’ll find that living in Palma de Mallorca on $5,000 a month is not only possible, but quite comfortable,” commented an expat living in Palma de Mallorca.
