6 Affordable European Destinations Where You Can Retire on $1,500 Per Month

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Although it’s true that living in Europe can be expensive, some cities in Portugal, Spain and France can allow you to live comfortably on a budget, according to a report from International Living.

If you’re ready to become an expat, consider these European destinations where you can make affordable retirement a reality for around $1,500 a month.

Braganca, Portugal

In northern Portugal near the border of Spain, you’ll find Braganca, which offers mountain views, medieval architecture and charming cobbled streets. It’s home to around 34,000 people and has modern amenities like a shopping mall and private hospital.

Furnished apartments are $400-$500 per month. After accounting for additional expenses like healthcare, utilities and food, a couple can still live comfortably on a $1,500 monthly budget.

Covilha, Portugal

Covilha sits in central Portugal and features beautiful river beaches. It also offers easy access to the Serra da Estrela mountains, home of the country’s only ski resort. Like Braganca, the town is home to around 34,000 people and offers modern conveniences like a mall and healthcare facilities.

Renting a one-bedroom apartment in the city center runs about $500 per month and once other essential expenses are added in, a $1,500 budget is still within reach for a couple. 

Oviedo, Spain

If a European city featuring a mild climate and a walkable center with plenty of historic architecture sounds like a perfect place to retire, consider Oviedo, the capital of Asturias. It’s located less than 20 miles from Spain’s northern coast. 

Although it’s a larger city with a population of 220,000, it’s still affordable. A one-bedroom apartment with modern features rents for about $630 a month, allowing a couple to easily cover the rest of their expenses and stay within a $1,500 budget.

Alicante, Spain

Alicante, located on Spain’s southeastern coast, is a larger city of more than 350,000 with plenty of beaches and a Mediterranean climate. Like other cities on this list, it offers both historic sites and modern amenities.

A centrally located apartment rents for about $700 per month. Even so, the remaining $800 can cover other essentials for couples sticking to a $1,500 budget.

Granada, Spain

Granada, which has a population of around 234,000, is well-known for the Alhambra fortress and its deep Moorish roots. However, it’s also an affordable place to enjoy retirement. It’s located in southern Spain, near the Sierra Nevada mountains and has a thriving local culture with a lower cost of living than other larger Spanish cities. For example, rent for a one-bedroom apartment starts at $450. 

Bergerac, France

Although France might seem out of reach as a retirement destination, the smaller town of Bergerac — population less than 30,000 — can make it a reality. Located in the Dordogne region, Bergerac features river views, vineyards and traditional French charm without the high prices of cities like Paris, Nice or Lyon. 

A couple can cover housing and living costs for about $1,500 per month. The area is also known for its slower pace and tranquility, making it a good pick for retirees looking to enjoy a quieter lifestyle.

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