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Currency and Cost of Living

Germany - Currency and Cost of Living


The unit of currency in Germany is the Euro (EUR), made up of 100 cents. EUR1 was equivalent to GBGBP0.67 and US$1.18 in December 2005.

Germany's cost of living is reportedly quite high, although there are variations between different regions and between the cities and more rural areas. Eastern Germany is still cheaper, although the cost of living here is rapidly catching up with the west of the country.

It is estimated that at least EUR1000 per month is needed for a single person to live fairly modestly, covering housing costs and bills, food and entertainment. Typical prices are EUR1 for a 1-litre bottle of drinking water, EUR1 for a small bottle of beer, and between EUR15 and EUR40 per person for a three-course meal with wine.

Housing prices are very high, particularly in the cities, and a relatively small proportion of Germans own their own homes compared with their British or American counterparts.


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