How much is the Cost of Living in Tenerife

Tenerife, the largest of the Canary Islands, is renowned for its stunning beaches, vibrant nightlife, and year-round sunny climate. The island is a popular holiday destination, but it is also home to a growing number of expatriates who have chosen to make it their permanent residence. If you are considering moving to Tenerife, it is important to understand the cost of living on the island.

Accommodation is usually the biggest expense for most people, and Tenerife offers a wide range of options to suit different budgets. The cost of renting an apartment in the city center can vary from around 600 euros to over 1,000 euros depending on the size and location. If you are willing to live outside the city center, the prices drop significantly, with an average monthly rent of around 500 to 800 euros. Buying property in Tenerife can also be an option, with prices ranging from around 1,500 euros per square meter in less touristic areas to over 3,000 euros per square meter in prime locations.

When it comes to groceries and other daily expenses, Tenerife offers a good value for money. Supermarkets are well-stocked with a variety of products, and the prices are generally lower compared to many other European countries. A weekly shopping bag for two people can cost around 50 to 70 euros, depending on your preferences and dietary requirements. Eating out in Tenerife is also relatively affordable, with a three-course meal for two people in a mid-range restaurant costing around 30 to 40 euros.

Transportation in Tenerife is convenient and reasonably priced. The island has an extensive bus network that connects different towns and helps you get around easily. A one-way ticket on the bus costs around 1.40 euros, and a monthly pass for unlimited travel within the island costs approximately 45 euros. If you prefer to use a taxi, the starting fare is usually around 3 euros, with an additional charge per kilometer. Renting a car is also a popular option for exploring the island, and prices can range from 20 to 50 euros per day, depending on the type and size of the vehicle.

Utilities such as electricity, water, and gas are part of the monthly living expenses in Tenerife. The average cost for these utilities for a one-bedroom apartment can range from 70 to 100 euros per month. Internet and mobile phone plans are also reasonably priced, with a monthly subscription costing around 30 to 40 euros.

Healthcare in Tenerife is generally of high quality, and the cost of medical services is relatively affordable. The island has both public and private healthcare facilities, and the cost of health insurance varies depending on your age, medical history, and coverage. A comprehensive health insurance plan can cost between 50 to 100 euros per month.

Overall, the cost of living in Tenerife can vary depending on your lifestyle and preferences. However, compared to many other European destinations, Tenerife offers a lower cost of living while still providing a high standard of living. Whether you are looking to relocate permanently or spend a few months enjoying the island’s beauty, Tenerife offers a fantastic quality of life at an affordable price.