Lisbon rated “least accessible European capital to live in”

Lisbon has won so many titles, and awards, but this one isn’t one that anyone will want to brag about. The capital has been rated the “least accessible European capital to live in”.

Considering the relative ‘wealth of the country’, and its position on the global stage, this is not good news.

A study, by Tradingpedia, has shown that the cost of living in Lisbon is now 121.4% of the average salary.

The trend is Europe-wide: all capitals are becoming more expensive to live ‘comfortably’ in. But when one considers that Berne, in Switzerland, is considered one of the most accessible capitals in the bloc, then the ‘failings’ become clear. In Berne, in a country that is known for being ‘expensive’, people can live comfortably because the local average salary is so much higher than that of Lisbon’s (Portugal’s). Here, the average salaries are essentially making life for locals extremely challenging.

Back in 2018, stories were already swirling about the cost of living in LIsbon – even of dying in Lisbon – but now it’s an absolute given. Living in Lisbon is beyond the means of most nationals, whether they live alone, or in a family.

In fact, the study shows Lisbon also takes the ‘prize’ for being the least accessible to families of four people (parents and two children). “Monthly expenses absorb 95.8% of the combined earnings of two average salaries, leaving a very reduced margin after essential expenses”, explain reports.

Tradingpedia published its study after comparing the living expenses and salaries in 37 European countries, with focus on their respective capitals. The analysis took in basic monthly expenses, including food, housing, transports, healthcare and entertainment. From this data, it was able to estimate how much people needed to ‘live comfortably’.

So, where are the cheapest capitals, in absolute terms? These can only be found in eastern Europe: Sarajevo, Minsk, Chisinau, Skopje and Podgorica

Source: Executive Digest

Natasha Donn

Journalist for the Portugal Resident.