Pensioners can retire in Europe for under £1,150 a Month – Top six 'shockingly good' affordable destinations
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With the right planning, pensioners can turn their European retirement dreams into reality, proving that financial limitations don’t have to stand in the way of a fulfilling life abroad
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Retiring in Europe might seem like a luxury reserved for the wealthy, but in reality, it’s more affordable than many think.
A new report from InternationalLiving.com reveals that retirees can enjoy a comfortable, high-quality lifestyle in Europe for around $1,500 a month (under £1,150) per month.
With lower living costs, affordable rent, and excellent healthcare, these destinations offer an opportunity to stretch retirement savings further while experiencing rich culture, scenic landscapes, and a relaxed pace of life.
“The idea that you need a fortune to retire in Europe simply isn’t true,” says Jennifer Stevens, Executive Editor of International Living.
She added: “In cities across Portugal, Spain, and France, a couple can comfortably cover rent, dining, transportation, and healthcare for as little as £1,150 per month. The values can be almost shockingly good.
"These destinations 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. These locations allow retirees to stretch their income much further.”
Here are six budget-friendly European retirement spots where retirees can make their dream lifestyle a reality.
Bragança, Portugal
- Average Monthly Budget: Under $1,500 a month (around £1,150)
- Furnished Apartment Rent: $400 to $500 (around £310-£395)
Bragança, in northern Portugal, is a medieval city of 34,000 residents surrounded by mountains and natural parks. Furnished apartments range from just £310 to £395 monthly, allowing couples to live comfortably for under £1,150 per month.
Covilhã, Portugal
- Average Monthly Budget: Under £1,150
- City Center Apartment Rent: $500 per month (around £385)
Covilhã, nestled in central Portugal at 2,359 feet altitude, sits near the Serra da Estrela mountains and Portugal's only ski resort. A one-bedroom city centre flat costs approximately £385 monthly.
Both locations offer modern amenities including shopping centres and quality healthcare facilities. Residents enjoy rich cultural heritage, from Bragança's 12th-century castle to Covilhã's scenic river beaches.
Spain offers three diverse locations where retirees can thrive on modest budget
| NISSI BEACHSpain offers three diverse locations where retirees can thrive on modest budgets:
Oviedo, Spain
- Average Monthly Budget: Under £1,150
- Furnished Apartment Rent: about $630 per month (aprox £498)
Oviedo, the capital of Asturias, enjoys a mild marine climate and houses 220,000 residents. A furnished one-bedroom flat costs around £490 monthly, with total expenses fitting comfortably within £1,150.
Alicante, Spain
- Average Monthly Budget: Under £1,150
- City Center Apartment Rent: around $700 (£553)
Alicante, on Spain's eastern Mediterranean coast, offers central apartments from £550 monthly. The city combines historic charm with stunning beaches and modern amenities.
Granada, Spain
- Average Monthly Budget: Under £1,150
- Furnished Apartment Rent: as low as $450 (around £350)
Granada, nestled beneath the Sierra Nevada mountains, provides exceptional value with one-bedroom flats from just £350. Retirees can enjoy the historic Alhambra palace, vibrant flamenco performances, and Granada's unique free tapas culture.
All three Spanish destinations deliver cultural richness alongside affordability.
Bergerac, France
- Average Monthly Budget: Under £1,150
- Affordable Apartments & Quaint Village Homes
France also offers an affordable retirement haven, defying its reputation for high living costs. Bergerac, situated in the Dordogne region, is a picturesque town known for medieval architecture and exquisite wines.
Couples can live comfortably here on £1,150 monthly. The town provides peaceful riverside living amidst vineyards and historical sites.
Retirees enjoy a quintessential French experience without the hefty price tag typically associated with French living. Bergerac's tranquil atmosphere offers a perfect balance of cultural richness and affordability.
With careful planning, a comfortable continental retirement isn’t just for the wealthy. These affordable escapes offer a high quality of life, making it possible for ordinary pensioners to enjoy an extraordinary retirement abroad.