6 Best Places To Retire in Europe for Less Than $1,500 a Month

Many of us dream of retiring abroad in Europe, but might feel like it’s simply unaffordable for us. However, there are several European locales where you can retire comfortably for less than $1,500 a month — which is less than the average Social Security check — according to a new report from International Living.

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Here are the European retirement destinations to consider if you want to live well on a limited budget.

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Braganca, Portugal

Located in northern Portugal, the medieval city of Braganca is surrounded by picturesque mountains and natural parks. Modern amenities include a private hospital and a shopping center.

Furnished apartments range from $400 to $500 per month, and other costs are low too — electricity, water and internet cost roughly $150 per month, a transportation pass costs $30 per month and private health insurance costs $100 per month. A couple can expect to spend $400 for food each month, with mid-range restaurant meals costing around $15.

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Covilha, Portugal

If you’re hoping for a retirement that includes skiing, central Portugal’s Covilha might be your ideal place. Covilha is close to the Serra da Estrela mountains, the location of Portugal’s only ski resort. Other local amenities include a modern shopping mall, river beaches and quality healthcare facilities.

A one-bedroom apartment in the city center rents for about $500 per month, while utilities cost around $175. Meals range from about $9 to $35 for two people, and you can buy a a liter of milk, a loaf of bread, a dozen eggs, a pound of beef, a pound of cheese and a bottle of wine for roughly $15 total.

Oviedo, Spain

Located less than 20 miles inland from the Bay of Biscay, Oviedo boasts a mild climate with cool winters and summers with an average temperature of 75°F. The city is known for its historic architecture, including a 9th-century pre-Romanesque church that is a UNESCO World Heritage Site.

A furnished one-bedroom apartment in a modern building rents for about $630 per month, utilities cost around $184 per month, a transportation pass costs $34 per month, and with plenty of affordable dining options, it’s easy to stay within budget when retiring here.

Alicante, Spain

The coastal city of Alicante offers a blend of historic charm and modern amenities. From beaches to historical sites to a thriving food scene, there’s no shortage of things to do during a retirement in this Mediterranean destination.

Monthly expenses, excluding rent, average around $700 for two, while the average rent is $700, making it easy to stay within a $1,500 budget.

Granada, Spain

Known for its Moorish heritage and vibrant Spanish culture, Granada offers an ideal setting for a culturally rich retirement. Pay a visit to the historic Alhambra palace, take in flamenco performances and enjoy the unique free tapas culture.

Rents for a one-bedroom apartment start as low as $450. Other costs, including groceries, transportation and utilities, average around $1,000 for two.

Bergerac, France

While France is known for its high living costs, Bergerac bucks the trend. Located in southern France, the town boasts medieval architecture, excellent local wines and relaxed riverside living. There are also a number of events to enjoy throughout the year, including an annual jazz festival in May, book fairs, classical music performances and a gastronomic festival.

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