Retiring in Europe might seem like a luxury reserved for the wealthy, but in reality, it’s more affordable than many think.
A new report from InternationalLiving.com reveals that retirees can enjoy a comfortable, high-quality lifestyle in Europe for around $1,500 a month (under £1,150) per month.
With lower living costs, affordable rent, and excellent healthcare, these destinations offer an opportunity to stretch retirement savings further while experiencing rich culture, scenic landscapes, and a relaxed pace of life.
“The idea that you need a fortune to retire in Europe simply isn’t true,” says Jennifer Stevens, Executive Editor of International Living.
She added: “In cities across Portugal, Spain, and France, a couple can comfortably cover rent, dining, transportation, and healthcare for as little as £1,150 per month. The values can be almost shockingly good.
“These destinations don’t just offer lower costs, they provide a rich, fulfilling lifestyle—whether you’re wandering through medieval streets in Portugal, enjoying tapas by the sea in Spain, or soaking up the relaxed charm of a French village. These locations allow retirees to stretch their income much further.”
Here are six budget-friendly European retirement spots where retirees can make their dream lifestyle a reality.
Bragança, Portugal
- Average Monthly Budget: Under $1,500 a month (around £1,150)
- Furnished Apartment Rent: $400 to $500 (around £310-£395)
Bragança, in northern Portugal, is a medieval city of 34,000 residents surrounded by mountains and natural parks. Furnished apartments range from just £310 to £395 monthly, allowing couples to live comfortably for under £1,150 per month.
Covilhã, Portugal
- Average Monthly Budget: Under £1,150
- City Center Apartment Rent: $500 per month (around £385)
Covilhã, nestled in central Portugal at 2,359 feet altitude, sits near the Serra da Estrela mountains and Portugal’s only ski resort. A one-bedroom city centre flat costs approximately £385 monthly.
Both locations offer modern amenities including shopping centres and quality healthcare facilities. Residents enjoy rich cultural heritage, from Bragança’s 12th-century castle to Covilhã’s scenic river beaches.
Spain offers three diverse locations where retirees can thrive on modest budget
NISSI BEACH
Spain offers three diverse locations where retirees can thrive on modest budgets:
Oviedo, Spain
- Average Monthly Budget: Under £1,150
- Furnished Apartment Rent: about $630 per month (aprox £498)
Oviedo, the capital of Asturias, enjoys a mild marine climate and houses 220,000 residents. A furnished one-bedroom flat costs around £490 monthly, with total expenses fitting comfortably within £1,150.
Alicante, Spain
- Average Monthly Budget: Under £1,150
- City Center Apartment Rent: around $700 (£553)
Alicante, on Spain’s eastern Mediterranean coast, offers central apartments from £550 monthly. The city combines historic charm with stunning beaches and modern amenities.
Granada, Spain
- Average Monthly Budget: Under £1,150
- Furnished Apartment Rent: as low as $450 (around £350)
Granada, nestled beneath the Sierra Nevada mountains, provides exceptional value with one-bedroom flats from just £350. Retirees can enjoy the historic Alhambra palace, vibrant flamenco performances, and Granada’s unique free tapas culture.
All three Spanish destinations deliver cultural richness alongside affordability.
Bergerac, France
- Average Monthly Budget: Under £1,150
- Affordable Apartments & Quaint Village Homes
France also offers an affordable retirement haven, defying its reputation for high living costs. Bergerac, situated in the Dordogne region, is a picturesque town known for medieval architecture and exquisite wines.
Couples can live comfortably here on £1,150 monthly. The town provides peaceful riverside living amidst vineyards and historical sites.
Retirees enjoy a quintessential French experience without the hefty price tag typically associated with French living. Bergerac’s tranquil atmosphere offers a perfect balance of cultural richness and affordability.
With careful planning, a comfortable continental retirement isn’t just for the wealthy. These affordable escapes offer a high quality of life, making it possible for ordinary pensioners to enjoy an extraordinary retirement abroad.
