What is the cost of living for a retiree in Tenerife

Tenerife, located in the Canary Islands, is a popular destination for retirees looking to enjoy their golden years in a beautiful and welcoming environment. With its warm climate, stunning landscapes, and affordable cost of living, it’s no wonder why so many retirees choose Tenerife as their retirement destination. In this article, we will delve into the cost of living for a retiree in Tenerife.

First and foremost, housing is a major consideration when it comes to the cost of living. Retirement often means downsizing or selling off a family home, and Tenerife offers a range of accommodation options to suit different budgets. The average cost of renting a one-bedroom apartment in the city center is about €550 to €700 per month, while a similar apartment outside the city center might cost between €450 and €600 per month. For those who prefer to buy a property, the average price per square meter in Tenerife ranges from €1,500 to €2,500, depending on the location and amenities.

Utilities, such as electricity, water, heating, and garbage, are generally reasonable in Tenerife. The average monthly bill for these services can range from €100 to €150, depending on usage and the size of the property. Internet and mobile phone plans are also affordable, with various providers offering packages starting from €25 per month.

Transportation options in Tenerife are plentiful, making it easy for retirees to get around the island. The public transport system, including buses, trams, and taxis, is efficient and reasonably priced. A single bus ticket costs around €1 to €2, while a monthly pass can range from €40 to €60. Many retirees also choose to purchase a car, and the cost of purchasing a small, used vehicle can start from €5,000.

When it comes to dining out, Tenerife offers a diverse culinary scene with something to suit every taste and budget. A three-course meal for two at a mid-range restaurant can cost between €35 and €50, while a cup of coffee can be enjoyed for around €1.50. For those who prefer to cook at home, groceries and fresh produce can be found at affordable prices in local markets and supermarkets.

Healthcare is an important consideration for retirees, and Tenerife provides access to quality medical facilities. Spain’s healthcare system is renowned for its excellence, and retirees can choose to apply for the Spanish public system or opt for private insurance. The cost of private health insurance can vary depending on the coverage level and the age of the retiree, starting from around €50 to €150 per month.

In terms of recreational activities and entertainment, Tenerife has much to offer retirees. With its beautiful beaches, hiking trails, golf courses, and vibrant social scene, retirees can enjoy an active and fulfilling lifestyle. Many cultural events and local festivals are also organized throughout the year, providing free or low-cost entertainment options.

In conclusion, the cost of living for a retiree in Tenerife is generally affordable and provides ample opportunities to enjoy life to the fullest. From housing and utilities to transportation, dining, healthcare, and entertainment, Tenerife offers a comfortable and enjoyable retirement experience. With its welcoming community, stunning natural beauty, and thriving expat scene, Tenerife is undoubtedly a top choice for retirees seeking a high-quality and affordable retirement abroad.