LIVING COSTS IN ITALY
Before you decide to migrate to another country, it would be wise to know what expenses of daily life may be like in order to compare it to your current place. When compared with other parts of Europe, the salaries and wages of Italians are low. People working in the sales and business development sector earn around €45,000/year. While those in the financial service sector earn around €70,000/year. Those at the executive level should earn around €80,000/year, and as you can see, there isn’t a very high topping point as you climb the ladder.
Also, the location in which a person lives affects his salary because living costs differ from one place to another. For instance, people Milan earn the highest while people in other places further south earn much less. The average disposable income in Italy, based on the reports of OECD, is about €22,000. The working hours per week for most employees is 40 hours and each employee often enjoys a paid annual leave of 4 weeks.
Read More: INVESTMENT PROPERTY IN ITALY AND RENTING
EXPECTATIONS IN TERMS OF EXPENSES
The cost of living is dependent on the city you leave in. The cost of living in Milan is the highest. The area where the cost of living is lowest is South Italy. Renting properties in Italy can be very expensive depending on the area. For example, the cost of renting a 3-room apartment in the city center, of about 900 square foot is around €1,000 per month. If you are to rent an apartment outside the city, the cost is around €700.
The cost of internet service is quite reasonable and affordable – around €30 every month. Apartment utilities will incur a charge of around €100 monthly, depending on the usage if it is not included in your monthly rental price. For people who are either lazy to do house chores or are too busy to attend to them, a hired cleaner charges around €10 per hour.
FOODS AND DRINKS
Foods can be purchased at reasonable prices. However, eating out could be a bit expensive, especially when you visit a nicer restaurant. In a mid-range local restaurant, a meal could cost €40. Eating in a top-notch restaurant in Rome or Milan could go as high as €150 – €200. Because Italy is one of those countries that produce the most amazing wine, wine is quite cheap.
A bottle of wine starts around €4 at a supermarket, marked up to €15 or €20, sometimes more, depending on the place. So, while in the country, be sure to savor plenty from the fruity Valpolicella to the succulent Barolos to the sparkling effervescence of Prosecco!
If you are not eyeing known designers like Gucci and Prada, clothing is quite cheap in Italy. However, beware of fake products while shopping for clothes because a few shops and the Italian market will display some wonderful designer clothing at very good prices. But on purchase, you will notice that the material is not genuine and some will even have faulty stitching.
When shopping for clothing, we strongly advise that you visit known malls and outlets, so that you can purchase genuine products. Some outlets will even sell good clothes at a great discount – sometimes up to 70%. For people with flexible budgets, handmade Italian shoes are a great purchase. Handmade shoes usually ensure the perfect size, ultimate comfortability, and an amazing, unique look. For women, they could even opt for monogrammed heels.