Expats living across Europe pay vastly different prices for day-to-day living costs despite the single European market place.
Eurostat, the EU’s official statistics producer, has released a list of the cheapest and most expensive places to live in the European Union.
Denmark tops the table – with prices 40% higher than the EU average.
The cheapest cost-of-living is in Bulgaria, which has prices an average 48% lower than the EU average.
The comparison shows Scandinavia and North Western European countries tend to have a higher cost of living than those around the Mediterranean Sea and in Eastern Europe.
The statistics – compiled for 2013 – are a useful indicator for expats on what they should expect to pay for living costs.
Scandinavia tops the table
Behind Denmark at the top of the table are Sweden (30% above the EU average); Finland and Luxembourg (23% above the EU average).
At the bottom end ahead of Bulgaria are Poland and Romania (57% of the EU average) and Hungary (60% of the EU average).
Popular expat destinations tend to cluster around the EU average – Spain comes in at 95%, while France is 109%, Cyprus and Portugal both score 86% and Italy 103%.
Food and non-alcoholic drinks were cheapest in Poland (62% of the average) and most expensive in Denmark (140% of the average).
For smokers and drinkers, alcohol and tobacco are cheapest in Bulgaria (59% of the average) and most expensive in Ireland (78% above the average).
Eurostat points out that alcohol and tobacco prices tend to reflect varying tax policies between governments rather than the wholesale costs of the goods.
Comparing prices
Another point for European expats retiring across borders to consider is the cost of living is relative to where they live now – for instance moving from Denmark to Bulgaria could trigger a financial shock, but moving from the UK to Spain is less of an issue.
The UK cost of living is 14% above the EU average, while Spain’s is 5% below- which makes the cost of living in Spain roughly 10% cheaper than the UK.
Besides food and drink, Poland was the cheapest place to buy consumer electronics and Hungarians pay less for furniture.
Malta and Iceland were the most expensive places to buy furniture, while the UK was just above average for consumer electronics and household appliances.
The research looked at prices across more than 30 countries – including the 28 states and other countries with European trade agreements or seeking EU membership.
Europe’s cheapest and most expensive places to live
Source: Eurostat
