Cost of living in Monaco is 37% more expensive than in Tórshavn, Faroe Islands (Faroe Islands)
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WARNING! This comparison is based on only a few data points. At this point it is only a guess. It is based on 72 prices entered by 8 different people.
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Currency:
| Food | - 14% | |||
|---|---|---|---|---|
| Food in Monaco is 14% cheaper than in Tórshavn, Faroe Islands (Faroe Islands) | ||||
| Update prices | Update prices | |||
| Monaco | Tórshavn, Faroe Islands | Diff | ||
| Basic lunchtime menu (including a drink) in the business district | €24 (kr181) | kr163 | + 11% | |
| Combo meal in fast food restaurant (big mac meal or similar) | €11 (kr83) | kr94 | - 12% | |
| 500 gr (1 lb.) of boneless chicken breast | €6 (kr48) | kr70 | - 31% | |
| 1 liter (1 qt.) of whole fat milk | €1.30 (kr10) | kr12 | - 22% | |
| 12 eggs, large | €4.69 (kr35) | kr33 | + 5% | |
| 1 kg (2 lb.) of tomatoes | €3.25 (kr24) | - | - | |
| 500 gr (16 oz.) of local cheese | €8 (kr57) | kr86 | - 33% | |
| 1 kg (2 lb.) of apples | €3.32 (kr25) | kr37 | - 33% | |
| 1 kg (2 lb.) of potatoes | €5.69 (kr42) | kr36 | + 19% | |
| 0.5 l (16 oz) domestic beer in the supermarket | €2.81 (kr21) | kr48 | - 56% | |
| 1 bottle of red table wine, good quality | €11 (kr82) | kr148 | - 45% | |
| 2 liters of coca-cola | €3.31 (kr25) | kr38 | - 36% | |
| Bread for 2 people for 1 day | €2.52 (kr19) | kr15 | + 21% | |
| Housing | + 202% | |||
| Housing in Monaco is 202% more expensive than in Tórshavn, Faroe Islands (Faroe Islands) | ||||
| Update prices | Update prices | |||
| Monaco | Tórshavn, Faroe Islands | Diff | ||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | €9,280 (kr69,194) | kr9,094 | + 661% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | €7,025 (kr52,382) | kr7,000 | + 648% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | €264 (kr1,967) | - | - | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | €4,069 (kr30,340) | - | - | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | €2,802 (kr20,896) | - | - | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | €123 (kr919) | - | - | |
| Internet 8 mbps (1 month) | €38 (kr286) | - | - | |
| 40” flat screen tv | €639 (kr4,766) | kr2,881 | + 65% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | - | - | - | |
| Laundry detergent (3 l. ~ 100 oz.) | €9 (kr66) | kr120 | - 45% | |
| Hourly rate for cleaning help | €17 (kr127) | - | - | |
| Clothes | - 45% | |||
| Clothes in Monaco is 45% cheaper than in Tórshavn, Faroe Islands (Faroe Islands) | ||||
| Update prices | Update prices | |||
| Monaco | Tórshavn, Faroe Islands | Diff | ||
| 1 pair of jeans (levis 501 or similar) | €93 (kr697) | kr937 | - 26% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | €44 (kr325) | kr814 | - 60% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | €90 (kr674) | kr1,016 | - 34% | |
| 1 pair of men’s leather business shoes | - | - | - | |
| Transportation | - 4% | |||
| Transportation in Monaco is 4% cheaper than in Tórshavn, Faroe Islands (Faroe Islands) | ||||
| Update prices | Update prices | |||
| Monaco | Tórshavn, Faroe Islands | Diff | ||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | €24,489 (kr182,602) | - | - | |
| 1 liter (1/4 gallon) of gas | €1.70 (kr13) | kr15 | - 15% | |
| Monthly ticket public transport | €30 (kr227) | - | - | |
| Taxi trip on a business day, basic tariff, 8 km. (5 miles) | €34 (kr255) | - | - | |
| Personal Care | + 4% | |||
| Personal Care in Monaco is 4% more expensive than in Tórshavn, Faroe Islands (Faroe Islands) | ||||
| Update prices | Update prices | |||
| Monaco | Tórshavn, Faroe Islands | Diff | ||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | - | - | - | |
| 1 box of antibiotics (12 doses) | €6 (kr48) | - | - | |
| Short visit to private doctor (15 minutes) | €78 (kr578) | - | - | |
| 1 box of 32 tampons (tampax, ob, ...) | - | kr50 | - | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | - | kr28 | - | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | - | kr32 | - | |
| 4 rolls of toilet paper | - | kr19 | - | |
| Tube of toothpaste | - | kr23 | - | |
| Standard men's haircut in expat area of the city | €48 (kr358) | kr283 | + 26% | |
| Entertainment | + 5% | |||
| Entertainment in Monaco is 5% more expensive than in Tórshavn, Faroe Islands (Faroe Islands) | ||||
| Update prices | Update prices | |||
| Monaco | Tórshavn, Faroe Islands | Diff | ||
| Basic dinner out for two in neighborhood pub | €71 (kr527) | - | - | |
| 2 tickets to the movies | €22 (kr166) | kr208 | - 20% | |
| 2 tickets to the theater (best available seats) | €432 (kr3,223) | - | - | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | €100 (kr746) | kr600 | + 24% | |
| 1 cocktail drink in downtown club | €19 (kr141) | kr100 | + 41% | |
| Cappuccino in expat area of the city | €4.67 (kr35) | kr30 | + 16% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | €5.88 (kr44) | kr70 | - 37% | |
| Ipad wi-fi 128gb | €865 (kr6,448) | kr4,513 | + 43% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | €0.32 (kr2.37) | - | - | |
| 1 month of gym membership in business district | €94 (kr704) | - | - | |
| 1 package of marlboro cigarettes | €7 (kr53) | kr73 | - 26% | |
 |
TOTAL | + 37% | ||
WARNING! This comparison is based on only a few data points. At this point it is only a guess. It is based on 72 prices entered by 8 different people.
These prices were last updated on September 28, 2023.
Exchange rate:
7.456
DKK
/
EUR
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For example, you would need at least kr34,152 (€4,580) in Monaco to maintain the same standard of living that you can have with kr25,000 in Tórshavn, Faroe Islands.
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