Cádiz Province (one of the two provinces that the Costa de la Luz covers; the other is Huelva) offers everything from well-appointed beachfront towns to ancient hilltop villages that can be seen for miles because of their brilliant white-washed buildings.
Across these towns, you find pockets of expats that love the region for its low cost of living, beautiful beaches and pristine nature, and authentic culture.
One of the biggest reasons to choose Spain as your overseas retirement destination is that it’s fantastically affordable.
Many Americans and Canadians have this perception of Western Europe as being financially out of reach, a destination only accessible in daydreams…
The truth is that many Western European countries— especially Spain and especially the Costa de la Luz— are more affordable than the States or Canada. That’s a lower cost of living for a higher quality of life, too.
Also, the current opportunity that Europe presents can’t be ignored: it has never been more affordable for Americans than it is right now.
The euro is at a historic, 20-year low against the U.S. dollar, which means that everything from the cost of espresso to the cost of beachfront property comes at an unprecedented exchange-rate discount.
If you’re looking to make a move anywhere Europe, the time is now.
Many Americans and Canadians have this perception of Western Europe as being financially out of reach, a destination only accessible in daydreams…
The truth is that many Western European countries—especially Spain and especially the Costa de la Luz—are more affordable than the States or Canada. That’s a lower cost of living for a higher quality of life, too.
Living in the Costa de la Luz, your big-ticket expenses are likely to be rent, health care, and taxes.
For rent, expect to pay about 600 euros (US$653) a month at the higher-end of the spectrum, for a well-appointed two-bedroom apartment by the beach.
Compare that to US$2,159—the average rent for an apartment in Sarasota, Florida, and you’ll see where the savings come in.
To qualify for most types of Spanish residency as a foreigner, you’ll need to provide proof of health insurance, and for older folks, this can be pricey. Exact amounts depend on the provider, your health, and what the policy covers, but it can be anywhere from US$1,500 to US$5,000 per person per year.
Once you become resident in Spain, your health care costs will go down once you become part of the national health care system. One expat I spoke to, Rachel, quoted paying about 60 euros per month for excellent Spanish health care.
Spain is not exactly a tax-friendly country… It’s more of a lifestyle play than an investment one. Personal income tax rates range from 19% (for income over 12,450 euros) to 47% (for income over 300,000 euros).
Spain doesn’t have a tax abatement program for pension income like Portugal, Southern Italy, and Greece do. That said, you can arrange things so that your tax situation is manageable.
For other day-to-day costs in Spain, you’ll be surprised at how affordable things are… You’ll often hear that “wine is cheaper than water” in southern Spain, and it’s completely true. You can get a decent bottle of wine for about a euro.
A dinner for two, including drinks, appetizers, mains, and dessert, could come to about 30 euros. A fancy coffee will be less than 3 euros; a beer (served in small glasses called cañas in Spain, will be about 1.20 euros.
Transportation costs will depend on whether you have a car. It’s possible to get by without one thanks to the train, for which the basic fare is negligible.
The Costa de la Luz stands out for the diversity of lifestyle options it offers. The sunny, warm weather pairs nicely with the long stretches of golden sand beach that you find in most towns…
It’s also historically interesting, safe, and affordable.
To me, all of this adds up to a fantastic lifestyle opportunity, one that I see as underrated.
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