OK, I found this re Madeira;
Cost of living.
The cost of living in Madeira is considerably lower than the rest of Europe. The majority of goods are much cheaper than in the other European Union countries, including the price of property, renting, food, drinks and entertainment. It is difficult to calculate the average cost of living in Madeira since it depends on the circumstances and type of life led by each person. The fact of the matter is that the majority of foreigners living in Madeira coming from
Western European countries
consider the cost of living to be up to 50% lower than in the country of their birth.Some typical costs:
rented
quality apartment located in Funchal: EUR 20/m2/month
purchased quality apartment located in Funchal: EUR 1,250/m2
meal in a mid- to high-quality restaurant: EUR 20/meal
purchased offices in the centre of Funchal: EUR 1,750/m2
rented offices in the centre of Funchal: EUR 20/m2/month
Labour costs:
Minimum wage in Madeira: EUR 515,10/month
Salary of a newly graduated professional without work experience: EUR 750/month
Salary of a university graduate (engineer, accountant, economist, lawyer) with two years’ work experience: EUR 1,500/month Salary of a highly qualified top-level manager with more than five years’ work experience: EUR 3 000/month
Rightmove has this 2 bed flat for sale:
http://www.rightmove.co.uk/overseas-pro ... 42093.html Try getting one of those for £59k in the UK.
Let's stop comparing apples and pears shall we?
The EU is not a uniform economy, but neither are Germany, Sweden, the UK, USA, Canada, Australia.... Nowhere is giving benefits to the level of their own university graduates (engineer, accountant, economist, lawyer) with two years’ work experience and that includes Madeira.