Retire Abroad on a Budget: 9 European Spots Where Your Money Goes Further

In recent years, more seniors have been choosing to retire abroad, with Europe emerging as a particularly popular destination.

According to recent data, over 700,000 Americans receive Social Security payments while living in foreign countries.

🇪🇺 Europe’s appeal is multifaceted, drawing retirees with its rich culture, history, affordable living costs, and high quality of life.

Europe offers numerous options, whether it’s the desire to connect with ancestral roots, enjoy a favorite vacation spot long-term, or find a comfortable and pleasant place to live their golden years.

For those ready to embark on this new chapter, here’s a look at some of the best places to retire in Europe.

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1. Algarve, Portugal

The Algarve, Portugal’s southernmost region, is a top destination for retirees seeking a mix of natural beauty, pleasant climate, and affordability.

Known for its stunning white-sand beaches, warm Atlantic waters, and year-round sunshine, the Algarve offers a healthy Mediterranean lifestyle with a low cost of living.

The region is also home to historic towns like Silves, featuring beautiful Moorish architecture. It is easily accessible, with a local airport and proximity to Lisbon.

✅ Why Move to the Algarve

Legal residents in the Algarve can register with the National Health Service, granting them access to public hospitals and health centers on a pay-as-you-go basis.

Retirees need private health insurance, a valid passport, and proof of income to obtain a residence permit. These permits are valid for five years, after which they can apply for a permanent license.

The Portugal D7 visa, also known as the Portugal Passive Income visa or Retirement visa, is a route to Portuguese permanent residency aimed at non-EU/EEA citizens who do not need to rely on an active, salaried income

2. Bordeaux, France

Bordeaux, a picturesque riverfront city in southwestern France, is an attractive option for retirees. With its warm summers and mild winters, proximity to the Atlantic Ocean, and famous wineries, Bordeaux offers a high quality of life.

The city boasts numerous cultural attractions, including museums, galleries, concert halls, restaurants, cafes, and outdoor markets.

A modern system of high-speed trains connects Bordeaux to other major cities in France and Europe, making travel convenient.

✅ Why Move to the BORDEAUX

France’s health care system, considered one of the best globally, is accessible to noncitizens under specific conditions.

Retirees can apply for public health care after living in the country for three consecutive months and spending at least 183 days per year there.

A long-stay visa is required for stays exceeding 90 days, which must be obtained while still in the United States.

3. Budapest, Hungary

Budapest, Hungary’s capital, is increasingly popular among retirees for its affordability, vibrant culture, and stunning architecture.

The city offers various activities, from dining in excellent restaurants to relaxing in historic thermal baths.

Despite rising prices, Budapest remains relatively inexpensive, with affordable rent and dining options. The city’s location along the Danube River and its rich cultural heritage make it a desirable place to live.

✅ Why Move to the BUDAPEST

Foreign retirees in Budapest can purchase property and enjoy a generally well-regarded healthcare system.

Retirees can apply for permanent residency after three years of continuous residence, provided they meet specific criteria, such as maintaining a stable home in Hungary.

4. Ljubljana, Slovenia

Ljubljana, the capital of Slovenia, is an emerging favorite among retirees. This small city offers a blend of old and new architecture, a walkable urban core, and a vibrant cultural scene.

With its rich history, diverse natural environment, and proximity to other European destinations, Ljubljana provides a unique living experience.

The city’s location allows easy access to Adriatic beaches, Alpine ski resorts, and even Venice.

✅ Why Move to the LJUBLJANA

Retirees can stay in Slovenia for up to 90 days without a visa, but those planning a longer stay will need a temporary residence permit.

Those with Slovene heritage may find the process expedited. Slovenia’s health care system is adequate, and many retirees opt for private health insurance.

Proper IRS filing can help avoid double taxation on income.

5. Split, Croatia

Croatia’s second-largest city, Split, is a growing retirement destination thanks to its beautiful coastline, warm climate, and rich history.

The city’s Roman heritage is evident in its UNESCO-listed Diocletian’s Palace. The local culture is vibrant, with plenty of restaurants, bars, and cultural venues. English is widely spoken, making the transition easier for American retirees.

✅ Why Move to the SPLIT

U.S. citizens planning to stay in Croatia for more than 90 days must apply for a temporary residence permit.

After five years of residence, they can apply for permanent residency. Croatia’s health care system is considered adequate, with English-speaking doctors available.

6. Alicante, Spain

Alicante, located on Spain’s southeastern coast, is famous for its sunny climate, beautiful beaches, and lively cultural scene.

The city offers a variety of dining options, from casual eateries to gourmet restaurants, with a focus on fresh seafood.

Alicante’s Central Market is a particular highlight for food lovers.

✅ Why Move to the ALICANTE

Despite its popularity, Alicante remains affordable, with reasonable rental prices and the possibility of purchasing property at competitive rates.

Spain’s health care system is renowned for its quality, and retirees can access public health care by obtaining a long-stay visa, which can lead to permanent residency after five years.

7. Valletta, Malta

Valletta, the capital of Malta, offers a unique retirement experience in a city steeped in history and culture.

Situated on a peninsula between two harbors, Valletta is known for its 16th-century architecture and picturesque coastal views.

The city’s small size, strong public transit system, and walkability make it easy to live in.

✅ Why Move to Valletta

English is one of Malta’s official languages. Valletta has a significant expatriate community. It is affordable, has low rental costs, and reasonably priced groceries and dining.

Non-EU expatriates are advised to obtain private health insurance, which is both highly rated and inexpensive. Malta also has a tax treaty with the U.S., preventing double taxation on income.

8. Kinsale, Ireland

Kinsale, a historic town on Ireland’s southern coast, is an excellent choice for retirees who love the outdoors. The city offers beaches, fishing, boating, cycling, hiking, and horseback riding opportunities.

Kinsale is also home to Old Head, one of Ireland’s most beautiful golf courses. It offers stunning views and fresh sea breezes.

✅ Why Move to the KINSALE

English is the primary language, and the town is known for its excellent restaurants and fresh seafood.

Kinsale’s proximity to Cork, just 30 minutes away, provides easy access to rail travel and international flights. Retirees must demonstrate adequate income and savings to obtain a visa, which can be renewed annually.

Health care in Ireland is considered good, with private health coverage recommended.

9. Prague, Czech Republic

Prague, the capital of the Czech Republic, is a captivating city known for its historic architecture and vibrant cultural scene.

The city’s Old Town is a UNESCO World Heritage site, and its modern amenities make it a comfortable place to retire.

Prague is also a gateway to exploring Europe, thanks to its central location and excellent transport links.

✅ Why Move to the PRAGUE

Affordable rents are available just outside the city center, and Prague’s healthcare system is among the best in Europe.

Health insurance is mandatory but reasonably priced, and many doctors speak English.

Retirees must apply for a long-term visa and can seek permanent residency after five years.

Final Thoughts: Retiring in Europe

Retiring in Europe offers a diverse range of options, from the sunny coasts of Portugal to the historic cities of Central Europe.

Whether you seek a vibrant cultural experience, stunning natural landscapes, or a peaceful retreat, Europe has something to offer every retiree.

With various climates, lifestyles, and affordability levels, finding the perfect place to enjoy your golden years in Europe is possible and incredibly rewarding.