5 Cheapest Places to Retire in Europe

This article will look at the 5 cheapest places to retire in Europe. You may check out our detailed analysis on Europe’s real estate and it’s retirement options by going to 20 Cheapest Places to Retire in Europe instead.

5. Belgrade, Serbia

Insider Monkey Score: 36.5

Retirees love Belgrade for its cost-effective lifestyle, rich cultural heritage, and excellent cuisine. Its prime location in the heart of the Balkans makes it ideally located for weekend getaways to countries such as Hungary, Greece, and even Bulgaria. The cost of living is, on average, 45.8% lower (around $800) than in the United States.

4. Vlorë, Albania

Insider Monkey Score: 37.8

Those seeking a relaxed beach lifestyle can explore the unspoiled beaches in the mid-sized city of Vlorë. Vlorë, Albania, is a unique destination for retirement, revered for its coastal location, relaxed lifestyle, and its famous Olive Orchards. An individual can live easily on $600 a month. On average, the cost of living is 43.2% lower than in the United States.

3. Sarajevo, Bosnia and Herzegovina

Insider Monkey Score: 38.17

Retirees in Sarajevo, Bosnia and Herzegovina experience a rich and diverse culture. Compared to other European cities, it has a low cost of living, with expats reporting monthly living expenses to be as low as $400-$500. The locals are known to be very warm and friendly, with stunning natural landscapes. The relaxed, laid-back lifestyle is also a plus.

2. Chisinau, Moldova

Insider Monkey Score: 40

Bursting with beautiful vineyards, green spaces, and wineries, Chisinau, Moldova, is a cheap destination to retire to. Retirees get to experience the rich Moldovan wine culture, festivals, and events, as well as varying natural attractions. The monthly cost of living is around $630, which is 51.1% lower than in the United States.

1. Ohrid, North Macedonia

Insider Monkey Score: 40.5

Located on the shores of Lake Ohrid, Europe’s deepest and oldest lake, retirees can comfortably retire on $445 (monthly) in Ohrid. Renting a fully furnished studio costs $200, while a one-bedroom apartment costs $200. The city is a UNESCO World Heritage site itself, with a history dating back to thousands of years. Lakes, mountains, and natural healing springs are the top features of this city.

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also take a peek at 15 Easiest Countries to Retire To and 25 Most Powerful Passports in the World.