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Is it cheaper to live in Gibraltar or the UK?

This is often a question we get asked at Richardsons, how does the cost of living in Gibraltar compare with that of the UK.  It’s a difficult question to answer as the cost of living in different parts of the UK can differ wildly and it depends on what you are used to. Here we look at the comparison with Gibraltar and London specifically.

20 Jun 24 |

Is it cheaper to live in Gibraltar or the UK? Image (the world’s largest cost of living website) says that you would need around £6,272 in London to maintain the same standard of life that you can have with £4,500 in Gibraltar (assuming you rent in both cities).


Sticking specifically with London, comparing the cost of living involves examining various factors such as housing, groceries, transportation, utilities, and lifestyle expenses.  Depending upon your own lifestyle, family makeup, leisure activities etc your costs are likely to vary, so we have put together a brief comparison guide to living in London compared with Gibraltar:

1. Housing Costs

- London is renowned for its extremely high housing costs, especially in central areas. A one-bedroom apartment in central London can cost between £2,000 and £5,000* per month, while outside the centre, it typically ranges from £1,100 to £1,700* per month.
- The cost of purchasing property in London is also higher compared to Gibraltar.  The average sale price in Zone 1 was  a staggering £1,413,466* over the past 12 months and £962,193* in Zone 2.  Zone 3 (which is in fact several miles outside central London) still had an average price of £830,685*.


- The perception of housing in Gibraltar, is that it’s expensive due to the lack of available land, but rents for a 1 bed apartment in town are on average just £1,046pcm* while a TWO bed in South District averages at just £1,826pcm* and can be cheaper still such as this two bed in Cumberland Road.
- The cost of purchasing property in Gibraltar is significantly lower too, with the current median asking price just £488,961*.  Typically properties are smaller in Gibraltar and more skewed towards flats than houses, but the median price is still sufficient to get you a four bedroom family home such as this one in Montagu Crecent

 2. Groceries and Food


- London has a wide range of grocery options, from budget supermarkets to high-end stores. While groceries can be expensive, there is more variation and opportunities for cheaper options.
- Dining out can be quite costly, with meals at mid-range restaurants typically costing between £20 and £50 each.

- Groceries in Gibraltar are slightly more expensive due to import costs and the small market size. However, the lack of VAT makes some items cheaper.  Morrisons can be high on items flown in, but much of the produce is sourced from Spain and better priced.
- Dining out is reasonable, with a meal at a mid-range restaurant costing between £15 and £30.

3. Transportation

- London has an extensive public transport network, which is convenient but expensive.  Monthly travel cards for central zones can cost around £140 to £250.
- Owning a car in London is very expensive due to the ULEZ, congestion zone, parking fees, and high insurance rates.

- Gibraltar is small, so transportation costs are relatively low. Public transportation is limited but affordable and free for residents. Many people walk or use e-scooters.
- Owning a car can be expensive due to parking limitations, although petrol is approx. 30% cheaper .  There is also no Vehicle Excise Duty ("Road Tax") or toll roads.

4. Utilities and Services

- Utility costs in London for n average 85sqm apartment, range from £150 to £200 per month.  Although don’t forget council tax which will be in the region of £180pcm for that size property.
- Internet services are around £30 to £50 per month.

- Utility costs in Gibraltar (electricity, heating, cooling, water etc) for an 85m2 apartment can range from £100 to £150 per month.  There is no council tax per se, the equivalent would be Rates, which would be approximately half of London’s monthly figure PER QUARTER!
- Internet services are comparable to the UK, with monthly costs around £30 to £50.

5. Healthcare and Education

- The UK’s National Health Service (NHS) provides free public healthcare, but private healthcare can be very expensive.
- London has numerous private schools, which are among the most expensive in the world.

- Gibraltar offers a high standard of public healthcare (GHA), which is free at the point of use for residents.
- Private healthcare is available and generally less expensive than in London.
- Education is of high quality, and public schooling is free. Private education costs are significantly lower than in London.


Cost of Living Indexes and Surveys

- Various cost of living indexes, such as Numbeo, consistently show that London is one of the most expensive cities in the world to live in.
- Gibraltar, while expensive, does not typically rank as high on these lists.

 For those that love a statistic, here is an average price break down of products in Gibraltar v London



The difference according to

So, there you have it.  Is Gibraltar expensive to live in? Well, it depends really on what your benchmark is and what you’re used to.  If you are used to living in London (or any other major international city) then Gibraltar is actually very affordable.  If you’re considering making the move, but there are any aspects you are unsure about, give us a call and we’d be happy to help.  We have all the up-to-date information on relocating from London – after all, our Sales and Lettings Manager did exactly that with wife and children in tow and hasn’t looked back since!



* Statistics taken from and and correct as of 19th June 2024

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