Europe's Top 5 Affordable Retirement Havens in 2021--InternationalLiving.com
A retirement in Europe is a dream for many folks--but it can be a reality more easily and more affordably than most people realize. And with Europe opening again to foreign travel, a newly updated report from International Living reveals five great-value European destinations that put the charm and culture of the Old World within reach of North American retirees.
BALTIMORE, July 28, 2021 /PRNewswire-PRWeb/ -- "People often assume that day-to-day life across Europe costs as much as a high-end vacation in Paris can—but that's just not the case," says Jennifer Stevens, Executive Editor, International Living.
"Yes, the most affluent neighborhoods in the most cosmopolitan cities will cost more. But all sorts of lesser-known escapes exist where the quality of life is very high, but the price tag is remarkably low. Coastal getaways, hilltop towns, even proper cities—once you're out of the tourist center, your options expand."
Europe packs in so much diversity that the perfect retirement destination exists for almost everyone. Here are five countries in particular where an affordable retirement is within reach for North American retirees.
The appealing lifestyle and gorgeous scenery of Italy draw many expats to the peninsula and offers each their own tailor-made dream.
IL Italy Correspondent Valerie Fortney Schneider says, "Italy really offers so much and has something for everyone. It satisfies every geographic preference—from hills to mountains to seaside; and any urban preference, from welcoming small towns to medium cities with lots of life, to bigger city action.
"Best of all, Italy can fit any budget, too. There are habitable homes for sale in many places for less than the average cost of a new car. The beauty and laid-back lifestyle doesn't have to be expensive here; in fact, our living expenses are lower in Italy than they were in the U.S."
Expat Theresa Conti moved to Trieste, Italy, at age 64, solo.
"My vision was to live close to both the sea and mountains, in a walkable city that was safe, clean, and quiet with outdoor activities and an active life, and Trieste has it all. It's a city with beautiful parks and beaches, good bus transportation, and a fantastic seafront promenade. I'm not saying it's right for everyone, but it fits my needs and lifestyle. It's peaceful and quiet, the way I like it, but has a lot to offer.
"My rent is $831 a month, all-inclusive. Try finding a roomy two-bedroom in Brooklyn for that!" she said.
Aside from housing costs, the living expenses in Italy are fairly consistent around the country. In the right spot, a couple can live well for as little as $1,830 per month.
IL Portugal Correspondent Terry Coles and her husband moved abroad ten years ago, first settling in Panama. There they enjoyed life for five years before taking their first-ever trip to Europe and fell in love with it.
"Europe has so much history and culture and we wanted to be part of it. We sold all except what would fit into two small suitcases and traveled full-time for the next two years looking for our next home. Portugal captured our hearts and minds and we knew that we had found the perfect fit. And since Portugal is one of the easiest countries in Europe for North Americans to obtain residency it made perfect sense."
Terry and her husband, Clyde, are one example of the many U.S. expats that visit Portugal and fall in love with the Portuguese people, the lifestyle, and the stunning vistas of golden sandy beaches.
"Every time I look out the window I smile," said Diedre Miller. "I always dreamed of having a house with a sea view, but it was never affordable back in California."
"We bought our house in Portugal sight unseen," Diedre explained. "My husband, Bart, came to Portugal alone at first with a job offer that didn't work out." On his flight back to California, Diedre was online looking at property. She spotted the perfect house and made an offer that was accepted.
Both Diedre and Bart were able to walk away from the working world at age 51 and begin their new lives in Portugal. They found the perfect spot for a guest house in Old Town Albufeira, in the central Algarve region. They bought a six-bedroom, three-bathroom, furnished townhouse for $333,000. The spacious house has two kitchens, two terraces and sits just a few blocks from the beach. "We never thought we could have this much house for this little money," Diedre said. The house is close to shops, restaurants and more importantly, the beach.
"Here I have a reason to smile," she says. "Back in California, all we did was work to pay the bills. There is no comparison to our lives here and there, it's like night and day."
Including rent, a couple can live comfortably in Portugal's interior, or in small cities, from about $1,700 a month. A couple's budget in Lisbon starts at about $2,100 or $2,200 a month. Singles should plan on a budget of about two-thirds that of a couple.
Large, diverse, and visually stunning, Greece is an enthralling mixture of sun-drenched islands, towering mountains, buzzing cities, and timeless traditions. Wrapped in the warm embrace of the Aegean Sea, it's vibrant, welcoming, and full of surprises.
"Greece is a great choice for expats because of its amazing weather, hospitable people, its relatively low cost of living, and its location, giving visitors easy access to travel to a wide range of other countries," says IL contributor Lynn Roulo.
"I moved without a local job or a significant relationship waiting for me in Athens, so it was a big step into the unknown," she says. "But it didn't feel scary or anxiety-provoking. The idea of moving and starting a fresh new life energized me. That was in 2012, and I still feel a sense of excitement that I get to live here.
"The cost of housing in Athens is significantly less than what it is in the U.S. You can rent a comfortable, one-bedroom apartment in the city center for under $650 per month. A nice taverna meal for two with wine is under $30 and you can stock up on your fruits and vegetables at the open-air markets for about $30 for the week. Taxis charge a standard rate of $1.30 per mile so most of the time, you can get around town for under $10."
A budget-conscious expat can live comfortably in Greece for $1,830 a month or less.
More information on these, and two more affordable European retirement destinations, can be found at Europe's Top 5 Affordable Retirement Havens.
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Since 1979, InternationalLiving.com has been the leading authority for anyone looking for global retirement or relocation opportunities. Through its monthly magazine and related e-letters, extensive website, podcasts, online bookstore, and events held around the world, InternationalLiving.com provides information and services to help its readers live better, travel farther, have more fun, save more money, and find better business opportunities when they expand their world beyond their own shores. InternationalLiving.com has contributors traveling the globe, investigating the best opportunities for travel, retirement, real estate, and investment.
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