13. Algarve, Portugal
Cost of living index: 49.19
According to Investopedia, Portugal has consistently made it to most lists of the best retirement countries in the world. This is mainly due to the low cost of living rates, great climate, and the potential for investments. The Algarve area in Portugal is popular for its vacation and retirement-ready sceneries, including their amazing beaches. With great restaurants around the area that do not break the bank plus really inexpensive homes you can buy, it sure is among the cheapest places to live in the world on the beach.
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