Tenerife, the largest of the Canary Islands, is one of the most desirable places to live in Europe. With year-round sunshine, stunning natural landscapes, excellent healthcare, and a relaxed pace of life, it attracts expats, retirees, and digital nomads from all over the world.
But how much does it actually cost to live comfortably in Tenerife? This guide breaks down all the key expenses to help you plan your budget.
Housing Costs
Housing is typically the largest expense. Costs vary significantly depending on the area:
Renting
- 1-bedroom apartment (city center): €600 - €900/month
- 1-bedroom apartment (outside center): €450 - €700/month
- 3-bedroom apartment (city center): €1,000 - €1,800/month
- Luxury villa (south coast): €2,500 - €8,000+/month
Buying
- Average price per m² (city center): €2,500 - €4,000
- Average price per m² (luxury areas): €5,000 - €12,000+
Food and Groceries
The cost of food in Tenerife is generally lower than mainland Europe:
- Monthly groceries (single person): €200 - €350
- Monthly groceries (couple): €350 - €550
- Meal at a mid-range restaurant: €12 - €25 per person
- Coffee in a café: €1.20 - €2.50
- Beer in a bar: €2 - €3.50
Transportation
- Monthly public transport pass: €40 - €55
- Gasoline (per liter): €1.20 - €1.50
- Car insurance: €300 - €700/year
- Taxi (typical ride): €5 - €15
Many expats find that having a car is convenient, especially in the south where public transport is less frequent.
Utilities
- Electricity: €60 - €120/month
- Water: €20 - €40/month
- Internet (fiber): €30 - €50/month
- Mobile plan: €15 - €30/month
Thanks to the mild climate, heating costs are virtually zero and air conditioning is rarely needed.
Healthcare
Spain offers excellent healthcare, and Tenerife is no exception:
- Public healthcare: Free for residents registered in the social security system
- Private health insurance: €60 - €200/month depending on age and coverage
- Doctor’s visit (private): €40 - €80
Leisure and Entertainment
- Gym membership: €25 - €60/month
- Cinema ticket: €7 - €10
- Golf (round at a quality course): €60 - €150
- Spa day: €30 - €80
Monthly Budget Summary
Here is what you can expect as a monthly budget:
| Lifestyle | Single Person | Couple |
|---|---|---|
| Comfortable | €1,500 - €2,200 | €2,500 - €3,500 |
| Upper-Comfortable | €2,200 - €3,500 | €3,500 - €5,500 |
| Luxury | €4,000+ | €6,000+ |
Conclusion
Tenerife offers an exceptional quality of life at a fraction of the cost of many Northern European cities. Whether you are looking for a modest comfortable lifestyle or a premium luxury experience, the island provides excellent value for money combined with an enviable climate and natural beauty.
If you are considering making Tenerife your home and are looking for the perfect property, GS Luxury Spain can help you find your ideal residence on the island. Contact us to explore our portfolio of luxury properties.
