Everyday living costs in Italy
It’s incredibly useful to gain an understanding of how much you’re likely to need to budget for day to day expenses when you make the move to Italy.
Each year, we conduct a Cost of Living survey, which compares the prices of a standard supermarket shop and other living costs in the UK, with the prices found in popular expat destinations. The below results should prove very useful in helping you to budget for your life in Italy.
It’s worth bearing in mind that alcoholic drinks in Italy usually cost more in restaurants than they do in bars and cafes.
Transport costs in Italy
There is an excellent network of public transport in Italy, which is all very reasonably priced. The best way to save money on tickets is to buy them in advance, online. Petrol is very similar to the UK in price. You’ll find that taxis are a little more expensive to use in Italy, and car tax is likely to set you back quite a bit more than in the UK.
Socialising in Italy
It’s worth bearing in mind that alcoholic drinks in Italy usually cost more in restaurants than they do in bars and cafes. If you’re looking for the best prices for food and drink, head away from the main streets and piazzas and look for the restaurants that are full of locals – it is here that you’ll find the best food, at the most reasonable prices.
When it comes to insuring your life in Italy, you might be struck at first by how much higher property and car insurance are. Therefore, you must factor this in to your budget early on to avoid any nasty surprises! For a large car, the lowest you’re likely to pay will be around €1,200 per year. Obviously the cost of your health, property, and car insurance policies will depend on the treatment you require, the possessions you own, where you are located, and what your driving history is. As you would anywhere, shop around to source the best deal for the exact style of cover you require.
Home costs per month
The amounts that you shell out in monthly utilities will obviously vary depending on the time of year, and how many people are occupying the property. Many countryside residences in Italy have log burning fires and artisan wells, which end up keeping the costs of heating and water down. Or, if you plan on installing solar panels, water and heating could end up costing you absolutely nothing!
Home Costs per month – based on a two-bedroom apartment in town.
|Cost in Italy||Cost in UK***||Comparison|
|Electricity||£74.22||£540 (yearly, so £45 monthly)†||Italy is 65% more expensive|
|Internet||£19.53||£20.77||Italy is 63% cheaper|
|Mobile phone tariff||£7.81||£439 (yearly, so £36.59 monthly)||Italy is 369% cheaper|
|Council Tax/Rubbish collection||£39.06||£1200.61 (yearly, so £100.05 monthly) ††||Italy is 156% cheaper|
|TV licence||£7.30||£12.12||Italy is 66% cheaper|
Grocery cost comparison 2016
Please note: all comparisons are using GBP/EUR: 1.28, on 18th May 2016.
|Item||Cost in Italy*||Cost in UK**||Comparison|
|Loaf of bread||£0.54||£0.89||Italy is 65% cheaper|
|12 Medium eggs||£1.21||£1.75||Italy is 44% cheaper|
|2 pints Milk||£2.02||£1.00||Italy is 102% more expensive|
|1kg Apples||£0.77||£2.00||Italy is 160% cheaper|
|1kg Bananas||£1.01||£0.68||Italy is 49% more expensive|
|500g Tomatoes||£0.29||£0.69||Italy is 138% cheaper|
|500g Cheese (Gouda)||£1.95||£2.50||Italy is 28% cheaper|
|500g Chicken (breast)||£2.34||£3.50||Italy is 50% cheaper|
|500g Beef (Roasting)||£3.90||£4.00||Italy is 3% cheaper|
|500g fish (frozen)||£2.26||£6.75||Italy is 199% cheaper|
|1kg Potatoes||£0.70||£0.80||Italy is 6% cheaper|
|500g Pasta||£0.19||£0.59||Italy is 210% cheaper|
|500g Cornflakes||£1.40||£0.99||Italy is 41% more expensive|
|Chocolate bar||£0.38||£0.60||Italy is 58% cheaper|
|200g Instant coffee||£2.73||£2.80||Italy is 2% cheaper|
|20 tea bags||£0.47||£0.75||Italy is 59% cheaper|
|1 bottle Red wine||£1.55||£6.50||Italy is 319% cheaper|
|500 ml Beer||£0.62||£1.12||Italy is 81% cheaper|
|1.75 Cola||£0.55||£1.84||Italy is 235% cheaper|
|Bottle Washing up liquid||£0.52||£0.59||Italy is 13% cheaper|
|100ml Toothpaste||£1.16||£1.50||Italy is 29% cheaper|
|Laundry Detergent||£3.12||£9.00||Italy is 188% cheaper|
|12 x 400g can Dog food||£3.66||£4.75||Italy is 30% cheaper|
|Full grocery basket||£33.34||£55.59||A full grocery basket is £22.25 cheaper in Italy|
If you’re transferring money from the UK to Italy to pay for these outgoings, it’s important that you manage your regular payments efficiently. Speak to Smart Currency Exchange about how to secure the best rates and save yourself money today.
The Italy Buying Guide walks you through each stage involved in buying property in Italy, and offers invaluable insights from expats and experts who understand the process. The guide will help you to: