The Cost of Living in Gibraltar | An Expert Guide

Gibraltar, a British Overseas Territory located at the southern tip of the Iberian Peninsula, offers a unique blend of British culture and Mediterranean lifestyle. With a population of approximately 34,000 people packed into just 6.8 square kilometers, Gibraltar is one of the most densely populated territories in the world. The territory is known for its distinctive limestone ridge, the Rock of Gibraltar, its strategic location at the entrance to the Mediterranean, and its thriving financial services and online gambling sectors.

Gibraltar's economy is highly developed, with a GDP per capita that ranks among the highest in the world. The territory has successfully diversified from its traditional military base and port economy to become a significant financial center and tourist destination. Despite Brexit, Gibraltar maintains special arrangements with both the UK and EU, contributing to its economic stability.

The expat community in Gibraltar is substantial, with many drawn to its tax advantages, Mediterranean climate, and English-speaking environment. The territory is particularly popular among British expats, financial services professionals, and online gaming industry workers.

‍

Regional Comparison

‍

Housing Costs in Gibraltar

Housing in Gibraltar is notably expensive due to its limited land availability and high demand from both locals and international workers. A one-bedroom apartment in the city center typically costs between £1,000 and £1,500 per month, while three-bedroom apartments range from £2,000 to £3,000. Outside the city center, prices drop slightly, with one-bedroom apartments ranging from £800 to £1,200. Purchase prices are similarly high, with apartments costing anywhere from £300,000 to over £1 million depending on location and size. Many residents choose to live in neighboring La Línea, Spain, where housing costs can be 40-50% lower.

Summary:

• Rent, 1-bedroom apartment (city center): £1,000-£1,500/month
• Rent, 3-bedroom apartment (city center): £2,000-£3,000/month
• Purchase price: From £300,000

‍

Food Costs in Gibraltar‍

Food costs in Gibraltar reflect its unique position as a small territory reliant on imports. A meal at an inexpensive restaurant costs around £15-20, while a three-course meal for two at a mid-range restaurant typically runs £60-80. Coffee shops charge about £3-4 for a cappuccino. Grocery prices are higher than in neighboring Spain but similar to UK prices, with a monthly grocery bill for one person averaging £300-400. Many residents do their bulk shopping in Spain to save money, though this requires crossing the border.Summary:

• Meal at inexpensive restaurant: £15-20
• Three-course meal for two: £60-80
• Monthly groceries (1 person): £300-400

‍

Transportation Costs in Gibraltar

‍Gibraltar's small size means public transportation costs are relatively low, with bus services covering most areas of the territory. A single bus ticket costs £1.50, while a monthly pass is approximately £30. Many residents walk or cycle due to the compact nature of the territory. Taxis start at £4 with approximately £2.50 per kilometer. Car ownership can be expensive due to high parking costs and limited space, with monthly parking fees ranging from £80 to £150.Summary:

• Bus ticket: £1.50
• Monthly bus pass: £30
• Taxi start: £4
• Monthly parking: £80-£150

‍

Healthcare Costs in Gibraltar

‍Healthcare in Gibraltar operates under the Group Practice Medical Scheme (GPMS), similar to the UK's NHS. For those covered by the scheme, most medical care is free or heavily subsidized. Private health insurance is available and recommended for faster access to specialists, with monthly premiums ranging from £50 to £150 depending on age and coverage level. Dental care is mostly private, with a basic check-up costing around £40-60.Summary:

• GPMS: Free for eligible residents
• Private health insurance: £50-£150/month
• Dental check-up: £40-60

‍

Utility Costs in Gibraltar

‍Utility costs in Gibraltar are moderate compared to other Western European locations. A typical monthly bill for basic utilities (electricity, heating, water, garbage) for an 85m² apartment ranges from £150 to £250. Internet service typically costs £30-40 per month for high-speed fiber connections. Mobile phone plans with data start from £20 per month. Air conditioning usage during summer months can significantly increase electricity costs.Summary:

• Basic utilities (85m² apartment): £150-£250/month
• Internet: £30-40/month
• Mobile phone with data: From £20/month

‍

Cost of Living vs Quality of Life Correlation

‍

If you want to know more about Gibraltar and the cost of living there you can also check out the Gibraltar page.