A growing number of British expats are choosing to live, work, or study in Germany. This is no surprise, given that the country is known for its breath-taking scenery, strong work ethic, technological, scientific, and educational advancement, and lively culture. The reasonable cost of living in Germany also makes it an appealing place to live.

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The currency in Germany

The currency in Germany is the Euro (€). The official currency code is EUR, which is how you will find it represented at Moneycorp. One Euro is divided into 100 cents. Banknotes are available in denominations of €5, €10, €20, €50, €100, €200, and €500, while coins are available in denominations of 1c, 2c, 5c, 10c, 20c, 50c, €1, and €2. £1 is worth €1.12 at 10.45 am on 6 February 2023.

 

Where to live in Germany

While cities such as Berlin, Frankfurt, Munich, and Aachen are popular among British expats, Germany’s superb roads and autobahns as well as its excellent public transportation system make it easy to live in a suburb, village, or small town and commute to work. It’s important to remember that salaries as well as the cost of living in Germany vary from city to city and region to region, even if differences in some costs are negligible. According to the 2023 Mercer Cost of Living Survey, Munich is the world’s 33rd most expensive city to live in, while Berlin is number 46 on the list and Hamburg and Frankfurt are in the 59th and 62nd spots, respectively.

 

How much does accommodation cost in Germany?

The cost of accommodation in major cities such as Berlin, Frankfurt, and Munich tend to be similar and more affordable than what you would pay in London. Rental and property prices are cheaper in smaller towns and villages. The table below offers an overview of average accommodation prices in various cities, which can help you consider the average cost of living in Germany. All figures were taken from Numbeo.com and exchange rates were calculated at 10.15 am on 6 February 2023.

 

Berlin

Monthly rent for 1 bedroom apartment (city centre)	£1176.88 (1315.53 €)
Monthly rent for 1 bedroom apartment (outside centre)	£814.93 (910.94 €)
Monthly rent for 3 bedroom apartment (city centre)	£2066.71 (2310.19 €)
Monthly rent for 3 bedroom apartment (outside centre)	£1433.92 (1602.85 €)
Price per square meter to buy apartment (city centre)	£7234.13 (8086.37 €)
Price per square meter to buy apartment (outside centre)	£4870.34 (5444.11 €)

 

Frankfurt

Monthly rent for 1 bedroom apartment (city centre)	£1014.02 (1133.48 €)
Monthly rent for 1 bedroom apartment (outside centre)	£758.47 (847.83 €)
Monthly rent for 3 bedroom apartment (city centre)	£1870.79 (2091.19 €)
Monthly rent for 3 bedroom apartment (outside centre)	£1356.82 (1516.67 €)
Price per square meter to buy apartment (city centre)	£8012.20 (8956.11 €)
Price per square meter to buy apartment (outside centre)	£5450.60 (6092.73 €)

 

Munich

Monthly rent for 1 bedroom apartment (city centre)	£1191.38 (1331.73 €)
Monthly rent for 1 bedroom apartment (outside centre)	£912.11 (1019.56 €)
Monthly rent for 3 bedroom apartment (city centre)	£2226.98 (2489.34 €)
Monthly rent for 3 bedroom apartment (outside centre)	£1695.79 (1895.57 €)
Price per square meter to buy apartment (city centre)	£10850.73 (12129.04 €)
Price per square meter to buy apartment (outside centre)	£8170.77 (9133.36 €)

 

How much does transport cost in Germany?

Transport costs are another important factor to consider when looking at the cost of living in Germany. Overall, prices are not too different from what you would pay in the UK.

Single bus ticket	£2.55 (2.85 €)
Monthly public transport ticket	£62.62 (70.00 €)
Petrol (1 litre)	£1.81 (2.02 €)
Volkswagen Golf	£22365.18 (25000.00 €)
Toyota Corolla	£22779.75 (25463.40 €)

 

What is the cost of living in Germany compared to the UK

The cost of living in Germany compared to the UK is similar. You will not find much difference in the prices of many essentials and basic groceries. Some items may be slightly cheaper, and others slightly more expensive. This means you will have similar living costs in Germany to what you would have in the UK.

Milk (1 litre)	£0.92 (1.03 €)
Bread (500g loaf)	£1.58 (1.77 €)
Eggs (12pk)	£2.42 (2.71 €)
Water (1.5 litre bottle)	£0.51 (0.57 €)
Chicken Breast (1kg)	£7.18 (8.03 €)
Cappuccino (regular, in a restaurant)	£2.73 (3.05 €)
Beer (500ml, in a restaurant/pub)	£3.58 (4.00 €)
Cinema ticket	£10.74 (12.00 €)
Gym membership (monthly)	£29.09 (32.52 €)
Preschool/Kindergarten (monthly)	£309.10 (345.52 €)
Primary School (yearly)	£10633.77 (11886.52 €)

 

Sign up for a personal account with Moneycorp

Sending money is part and parcel of moving to another country, whether you move for business, study, or another reason. This can be an expensive and unreliable process if you choose the wrong way to do it. Sign up for a personal account with Moneycorp and send money to Germany securely and conveniently.