Best European cities for pensioners to retire to with less than £1,000 a month | Personal Finance | Finance

Britons can retire abroad for less than £1,000 a month in these European cities.

GOBankingRates sourced data from WorldPopulationReview, Numbeo and the 2023 Global Peace Index to rank the top 500 cities in terms of population.

To determine which are the best places where people could retire on a budget, the data took into consideration a combination of their overall cost of living, level of safety and security, quality of life and monthly rent, with quality of life receiving the highest weighting.

As the cost of living continues to bite, Britons looking to escape the country could live abroad for less than £1,000 a month.

Data has shown that important factors for retirees looking to move include healthcare access, green space, proximity to local leisure activities and low crime levels.

Plovdiv, Bulgaria

If you’re looking for a European city where you can retire on the cheap, Plovdiv might be near the top of your list. With a one-bedroom apartment averaging just $287.05 (around £235) in monthly rent, $2,500 (around £2,000) will be plenty of money to get you by.

The city’s quality-of-life index of 143.72 is among the lowest in the top 10, but the city still has its charms, including the longest pedestrian street in Europe and plentiful Roman ruins.

Burgas, Bulgaria

Burgas is the second Bulgarian city to crack the top 10, mainly on the back of its extreme affordability. Even a three-bedroom apartment in the city rents at just $553.77 (around £460) per month, while a one-bedroom clocks in at just $302.21(around £250).

The city is actually popular due to its close location to the resort town of Varna along the Black Sea coast, but Burgas also has its own seashore location and a host of charms, from its vibrant gardens to its pink lake.

Debrecen, Hungary

Hungary is rising in popularity in the travel and retirement community, and Debrecen is one of the most affordable options. Tourism has been rising in the city, especially since Lonely Planet put Debrecen on its list of top-10 value destinations in the world in 2017.

A one-bedroom apartment in the city still averages just $369.38 (around £300) per month, while its quality-of-life index sits at 154.79.

Szeged, Hungary

Szeged may fly under the radar of many American retirees, but that’s a shame. The beautiful city near the Serbian border is an architectural wonderland, and its university culture means there’s an ample supply of outdoor cafes, restaurants and entertainment venues to provide for an exciting retirement.

While overall costs are low, rents are particularly affordable, with a one-bedroom running just $314.02 (around £250) on average.

Klaipeda, Lithuania

Compared to some other countries in the survey, Lithuania doesn’t receive a lot of attention, but Klaipeda is definitely a hidden gem. Boasting forests, rivers, lakes and sand dunes, Klaipeda is also home to two UNESCO World Heritage sites: the Vilnius Old Town and the Curonian Spit.