Six destinations to retire in Europe made it to a new report by the International Living (IL) organization ranking the 16 most affordable and desirable alternatives to move to in the world.
From medieval Bragança in Portugal and the sunny shores of Alicante in Spain to picturesque Bergerac in the south of France, the six European destinations offer “a high-quality lifestyle for under $1,500 a month,” according to IL.
The new ranking “prove that an affordable European retirement isn’t just possible—it’s surprisingly attainable.”
“The idea that you need a fortune to retire in Europe simply isn’t true,” says Jennifer Stevens, Executive Editor of International Living. “In cities across Portugal, Spain and France, a couple can comfortably cover rent, dining, transportation, and healthcare for as little as $1,500 a month.”
These destinations, according to Stevens, “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.
It’s expensive to live in the U.S., and when you look to the right spots overseas, you’ll find your dollars stretch so much further than they do at home.”
Here are the places they identify:
Retire in Europe: Bragança, Portugal
Nestled in northern Portugal, Bragança is a medieval city surrounded by majestic mountains and natural parks. With a population of 34,000, it offers modern amenities, including a private hospital and a contemporary shopping center. Furnished apartments range from $400 to $500 per month, and with additional expenses including utilities, transportation, health insurance and food, a couple can live comfortably on $1,500 or less per month.
“Meander along cobbled lanes, admire the 12th-century castle and practice your Portuguese at the local mercado while picking up the freshest produce, meats, seafood, and artisanal products,” International Living recommends. “Bragança is just the right size, where neighbors know each other, and every corner of the medieval streets tells a story,”
Throughout the year, Bragança comes alive with festivals, from the Medieval Fair to cultural celebrations and religious holidays. Dining out is affordable, with mid-range restaurant meals costing around $15 and quick bites at cafés available for less.
For outdoor enthusiasts, there are leisurely strolls in the city’s parks or more challenging hikes in Parque Natural de Montesinho, a vast natural reserve in the mountains nearby.
Bragança has a continental climate, with hot, dry summers reaching 86°F and cold, wet winters, where temperatures can dip to freezing. Rainfall keeps the landscape lush and green, with rolling hills, forested parkland and breathtaking vistas.
Foreigners choosing to settle in Bragança will find that learning Portuguese makes daily life much easier. The Portuguese government offers free language courses at the A1/A2 and B1/B2 levels.
Covilhã, Portugal
Built within medieval fortified walls, included in Portugal’s Historical village route, Covilhã is located in central Portugal at an altitude of 2,359 feet. It is close to the Serra da Estrela mountains, home to Portugal’s only ski resort.
Despite the mountainous setting, the Mediterranean climate ensures comfortable summers, averaging 75° Fahrenheit, and mild winters, around 45°.
With a population of some 34,000, it boasts a modern shopping mall, quality healthcare facilities and affordable living.
Cost-wise, Covilhã is within easy reach. A meal at an inexpensive restaurant costs around $8.50, while a three-course dinner for two runs about $35.
Housing is another major draw. A one-bedroom apartment in the city center rents for about $500 per month, while a three-bedroom unit slightly outside the center is available for $735 and a couple’s total monthly expenses can comfortably fit within a $1,500 budget.
The city also offers scenic river beaches and a rich cultural heritage.
Oviedo, Spain
As the capital of Asturias, Oviedo is located less than 20 miles inland from the Bay of Biscay, enjoying a mild marine climate with cool winters and pleasant summers averaging 75°F.
With a population of 220,000, it offers historic architecture, including a 9th-century pre-Romanesque church (a UNESCO World Heritage Site), and affordable living.
Given its vibrant university scene, with more than 30 faculties and professional schools, Oviedo is a lively city that blends history, culture, and affordability.
A furnished one-bedroom apartment in a modern building rents for about $630 per month, and a couple’s total monthly expenses can comfortably fit within a $1,500 budget. The city also boasts a vibrant cultural scene and affordable dining options.
Alicante, Spain
Located on Spain’s eastern Mediterranean coast, Alicante is a vibrant city that offers a blend of historic charm and modern amenities.
The city houses a diverse population of about 330,000 residents, creating a tapestry of cultural influences reflected in its traditional cuisine, countless festivities, and day-to-day interactions. This blend of Spanish heritage with a cosmopolitan flair makes it a place to live and thrive.
A couple can enjoy a comfortable lifestyle here for under $1,500 a month, with rent for a central apartment starting at around $700. The city boasts stunning beaches, a rich cultural scene, and a pleasant climate making it an ideal destination for those seeking both relaxation and culture.
Granada, Spain
Nestled at the foot of the Sierra Nevada mountains in Andalusia, Granada is renowned for its rich Moorish heritage and vibrant Spanish culture.
With a population of 230,000, Granada boasts a vibrant community where the youthful energy from its university mingles with the traditions of the local Andalusian culture. This fusion creates a lively yet laid-back atmosphere,
The tradition of free tapas with every drink turns each outing into a delightful culinary adventure. For just over $1, you can indulge in an aromatic café con leche or experience the local cuisine at a traditional restaurant, where a meal for two can be enjoyed for about $25.
Granada’s allure lies not only in its historical grandeur and cultural vibrancy but also in its affordability and quality of life, all within the budget of $1,500 a month for a couple.
The city offers affordable housing options, with rents for a one-bedroom apartment starting from as low as $450.
Retire in Europe: Bergerac, France
Situated in the Dordogne region, also known as Perigord, in the southwest, part of the huge region of Aquitaine, Bergerac is a picturesque town known for its medieval architecture, exquisite wines and tranquil riverside living.
For many prospective expats, this is quintessential France, the dream place to go shopping for a little maison de village, or a honey-colored stone farmhouse. Everywhere here seems just pastorally perfect, right down to the clouds of bright-blue butterflies and the lines of fluffy ducklings paddling down the river.
The city of Bergerac is one of the region’s commercial centers, known for producing some of the area’s 17 varied wine appellations.
The second most-populated city in the Dordogne, it’s classified as a center of art and history. Residents enjoy a wide range of activities, including an annual jazz festival in May, book fairs, classical music celebrations and gastronomic gastronomic events.
Bergerac is an easy point to explore the rest of southwestern France before heading to the French Riviera.
Despite France’s reputation for high living costs, the city offers affordable options, with couples able to live comfortably on $1,500 a month. The town provides a peaceful lifestyle amid vineyards and historical sites, ideal for those seeking a quintessential French experience without the hefty price tag.
Along with the best places to retire in Europe, the full report of the 16 best affordable locations across Europe, Latin America, and Southeast Asia can be found here.
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