Cost of Living in Funchal, Portugal

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How Much Does It Cost to Live In Funchal?

Funchal is the capital and main city of the autonomous region of Madeira, on the island of Madeira, situated in the south of the country.

It has huge historical importance, because it was an important shipping center during the 15th-17th century.

To date, is one of the most beautiful cities in Portugal.

Many people actually call the island where this city is located “the Hawaii of Portugal”, and there’s a bonus – the city is actually cheaper in many ways than many other major cities in Portugal.

Just be careful when spending, because you may get carried away and overspend!

RESTAURANTS

In a city like this, it would be a sin not to stop and have a lunch at local restaurants and taste some Madeira wine which is made on the island of Madeira only. Here, you can have a three-course lunch for two people at a mid-range restaurant for around 35$, which is not too much for such a pleasure. Eating at an inexpensive restaurant will cost you around 6$ per person.

MARKETS

In Funchal, go to the market and see the amazing variety of tropical fruit and other goods. Try the pineapple, the papaya and the tiny Madeiran banana, which are the best bananas in the world – these are the simple pleasures of many open markets throughout Funchal. There are also many supermarkets where you can load up on goodies and cook at home.

TRANSPORTATION

This is a gorgeous city on a southern island in Portugal – which is why it’s safe to say that you’ll probably want to go everywhere on foot – or at least, cruising on a bike. If you have to use the public transport, it’s relatively affordable. A one-way ticket here costs 2.30$ while a monthly pass is around 50$.

UTILITIES (MONTHLY)

Utilities, generally speaking, are cheaper than anywhere in Portugal – especially since most people would expect Portugal’s prices to be through the roof, not to mention prices in one of Portugal’s islands! In an apartment for two people, of about 85m2 in size, all basic utilities like electricity, gas, heating, cooling, garbage services and water cost just a bit above 75$. Internet is rather inexpensive too, costing around 35$.

SPORTS & LEISURE

Funchal has special charm – it’s a city in one of Portugal’s island, so there are many opportunities for outdoorsy activities. There are also many cinemas, theaters and other leisure opportunities, and a ticket for a movie in a cinema will cost you around 7$. If you’re more into practicing sports indoors, fitness club membership is a bit expensive – around 50$.

CLOTHING & SHOES

Don’t worry, it’s not all about Funchal’s outdoor beauties – it also has many shops where you can stroll into and take a glance at some gorgeous pieces of clothing, maybe even buy some? It has many independent shops where you can buy unique clothes. However, the prices aren’t low. You’ll have to pay up to 95$ for quality jeans, while running sneakers of quality brands cost around 90$ too.

RENT PER MONTH

A decent one-room apartment with a 20–25 minutes commute to the center of the city, will cost you around 400$ a month. It will, of course, be more expensive in the heart of the city – around 500$ and more. If you’re a student and want to rent a room, that will cost you around 230–280$ a month. But if you’re a foreigner wondering whether to move to this city – the best thing you can do is rent a place for several months – just to try it out! You won’t be sorry!

Cost of Living Averages Table for Funchal

How Does the Average Person Spend Their Money in Funchal?

Food is, like in most countries and cities, the biggest expense for the people of Funchal, and this is understandable since it’s pretty necessary and you can’t live without it.

Taking into consideration that rent is the single most expensive aspect of living in Portugal, it’s no wonder that it’s the second biggest expense for those living in this gorgeous island city.

Transportation is next on the list, with as much as 17% of one’s income being spent on means of public and private transportation.

Utilities take up less money than indulging in sports and leisure: that says a lot about the prices of utilities!

Average Costs Breakdown

Funchal: Average Salary, Minimum Wage & Mortgages

In Funchal, the minimum monthly wage is just a little over 700$ – which only makes sense: since the prices are lower – the wages are lower, too.

This value is net and is paid 14 times a year – that’s right, they have as much as two additional salaries per year!

The salaries in Portugal (and Finchal) are paid 14 times: 13th month is usually paid in August and the 14th in December – what a great aspect of living in this country!

The standards here are high, and with an average salary of around 700$, you can easily manage all your expenses, cover them all, be able to travel and even save some money without having to worry about your existence.

Cost of Living by City in Funchal