Cost of living in Italy
Beautiful Italian nature, rivers and lakes hidden behind green hills, the warm waters of the Ligurian Sea, and historical sites of ancient Roman in charming villages and bustling cities have always attracted poets, artists, the aristocracy and ordinary people. In the last century other aspects such as, shopping, tourism, traditional and international festivals, have added to the traditional Italian values and this has increased the investment potential of the country.
Italian real estate prices are attractive for those who are looking to find profit from investing in a project or to become a patron of the arts, and for those who just want to buy a house by the sea or an apartment in one of the most beautiful and developed European countries. Clearly, knowing the cost of living in Italy is an important factor for these investors.
One of the main expenses is accommodation. Renting a property can cost between €300 - €1,000, depending on your preferences and possibilities. Cheaper housing can be found in the south of the country with more expensive accommodation in the northern regions, as well as in the major cities. Of course, mortgages are available in Italy and monthly repayments are around €500. Accommodation costs will include utilities; Electricity, water, and gas are paid according to the meter readings. The costs of utilities will depend on the choice of the management company and the companies that provide these services.
Expense of food, clothes, shoes, medical services
An average family of three will need to allocate around €6,000 per month for everyday expenses. This figure includes unexpected costs such as, repair of shoes or domestic appliances.
The cost of education includes the cost of school meals, which will be around €600 per year for one student. The same sum of money will pay for you or your family to attend sports or other classes and some project groups.
Another main expense will be medical services. This will be about €1,000 per year, but this can change, depending on your circumstances.
Drivers will spend about €1,500 per year on fuel; and for car servicing, maintenance and insurance another €1,000 per year.
As such, the average sized family will need to find around €28,000 per year. You can now decide for yourself if you can afford to live in one of the most highly developed countries with an excellent standard of living.