Being in Europe, it is expected that the cost of living in Tenerife is high. As a major tourist destination not just in the country but the world as well, expatriates should anticipate the expenses that come with living in the island.
A bedroom chalet which can cater to a family of 3 costs around €400 or about £307.70. This does not include rubbish collection which will cost you €72 on average. Metered water and electricity are relatively expensive costing at approximately €96 and €900, respectively. Gas which you can use for cooking and heating water is priced at €180.
If you are doing your grocery, expect to spend an average of €120 every week. The cost for 33cl bottle of beer is €1, while a liter of bottled mineral water is at €0.90. If you are to eat in a dining establishment prepare at least €12, which is already food for the three-course meal served with a glass of wine or a bottle of beer.
Going to and fro your job in the island, you must also consider the Tenerife transport fare. A single ticket for tram is worth €1.30, while a roundtrip ticket costs €2.45. That stated, you would obviously be saving at least €.15 if you buy a roundtrip ticket. However, since you will be transporting frequently, getting a monthly travel card which is worth €40.00 would be a wise decision.
Getting yourself prepared with Tenerife cost of living will help you anticipate the expenses and budget your earnings.