Cost of Living in Costa Rica Compared to Europe…
Those who are closets to me know that my biggest passion in life is to travel. It’s a passion that started at the age of 13 when a family friend invited me to travel with her to England and Scotland to visit her daughter who was studying abroad.
Every year around September/October, Gerardo and I make it a point to take a nice, month long vacation. We always choose the same time of year because it is the rainiest months in Costa Rica and the slowest for our real estate business.
We feel very fortunate and look forward to being able to pack up and travel to far away destinations like Madrid, Paris, Venice and Rome.
Having had the privilege of living in Costa Rica for 8 years, one often thinks that living in paradise has become more expensive.
In comparison to when we first started visiting Costa Rica about 10 years ago I cannot deny that prices have increased. However our vacation abroad this year was a real eye opener, making us realize what a wonderful life we live in this beautiful country and at a bargain price.
On this years’ itinerary we tried to visit new destinations like Toledo, Spain, Tuscany, Venice and Rome, Italy as well as a return visit to Paris, France. The global economic downturn has hit parts of Europe hard, especially Spain. In Spain, the cost of living is very low in comparison with other European countries.
I can even say on par with Costa Rica or even a bit lower, depending on where you live and what your spending habits tend to be. For example we purchased groceries that provided 3-4 days of breakfasts and 3-4 evening meals for 3 adults totaling €56 which equates to about $75
Similar items in Costa Rica would have cost us about between $80 and $90
Eating out is another bargain in Spain.
A nice 3 course meal (entree, main course and dessert) with a bottle of house wine starts at around €15.00 ($20.25) per person.
You would be hard pressed to find those prices in Costa Rica for the same quality meal. Having said that, the unemployment rate in Spain is hovering at around 28%, with the youth unemployment rate at a historic record high of 56.1%.
Compare that to Costa Rica which has an overall unemployment rate of 7.9% and it’s not hard to see which country has the stronger economy.
In Spain, real estate is an even bigger bargain. In some beach areas of the country you can find two bedroom apartments starting at €60,000 or about US$81,000
From Spain our next stop was Italy.
I was particularly excited about our visit to Italy because I had never been to the country but had heard many wonderful stories. All the cliche’s you have ever read about or seen in the movies I found to be more or less accurate.
It was fantastic! The one thing that was not fantastic was the prices and cost of living. We found it to be very expensive.
The bargains we found eating out in Spain did not convey to Italy with the average main course starting at around €20 ($27), not including wine.
At the grocery store, the same items we had purchased in Spain for €56 ($75) jumped to around €125 ($168).
We found this very interesting since locals said Italy was also hurting from the global crisis.
While in Tuscany I was particularly interested in real estate and how far you could stretch your dollar. Tuscany is stunning with incredible vistas much like those we have here in Atenas.
However, there is one big difference between real estate in Italy and Costa Rica. Price! An average 2 bedroom, 2 bath farm house on 1-2 acres of land with swimming pool and nice views will set you back €580,000 ($783,000).
Compare that to a similar home in Atenas, Costa Rica for around $400,000 and you realize that Costa Rica is still a great value.
Prices in Venice and Rome are even higher, with the price per square meter jumping to over €10,500 ($14,175) Compare that to the average price per square meter in Atenas of $1,545, Costa Rica is dirt cheap!
Finally we made our way to Paris.
I have been to Paris many times over the years and the City of Lights has never disappointed me.
It is everything you ever dreamed it would be and more! Contrary to popular belief, I have never found the French to be rude.
However, the ugly side of Paris is the cost of living. For example, I went to the local grocery store and picked up coffee, salad mix, orange juice, 2 chicken breasts, a baguette and fresh cream and spent a whopping €28 ($37).
Your typical 375ml bottle of coke will set you back €4 ($5.40). I can buy the same Coke in Atenas for $1.60
On the real estate front, Paris is one of the most expensive cities in the world.
We stayed in a nice 70m2 (749 s.f.) studio apartment in the Marais district.
We were informed that the market value of our studio was €980,000 or $1,323,000 – Ooh la la, tres chic!
For the price of our studio apartment in Paris, you could purchase a large 5,000 to 7,000 s.f. estate style property in Costa Rica with at least 10 acres of land and stunning views!
To say the least our vacation was everything that we needed.
A change of pace, scenery and culture.
The amazing thing about traveling is that it enables you to see the majestic beauty of the world and experience the wonderful cultural differences that make each destination special. Traveling also allows you to appreciate how special your family and home truly are.
This years travels reminded me of the many reasons I chose to move to Costa Rica. We could never live the same lifestyle in Paris, Rome, London or even my hometown of Tampa with the same budget as we do here in Atenas, Costa Rica.
When our journey had ended and as we were driving back to Atenas from the airport, I rolled down my window, took a deep breath of the fresh mountain air and soaked in all the lush greenery that surrounded me. I knew that I was home and that I am blessed beyond words.
Cost of Living in Costa Rica Compared to Europe…Article ID Number 4463
Andrew Makarik
to@welovecostarica.comAndrew Makarik is the main editor of WeLoveCostaRica, a fan of this sunny country. He is also a loving husband and a has a lovely daughter. By being a devoted family man and the biggest Costa Rica fan, he wants to make more people feel at home there. WeLoveCostaRica unites people and helps them find new home or a new travel destination. This website is a friendly community where everyone can find not only information, but also new friends and travel pals. Andrew is also passionate about IT and programming, so he himself maintains a friendly atmosphere in this cozy environment of WeLoveCostaRica.com.
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