Live and Invest Overseas has published a ranking of the best places in Europe to retire, based on average monthly living costs. It is aimed mainly at US citizens aged 65 and over, who spend an average of USD 4,818 a month at home.
The study found that, contrary to popular belief, Europe has plenty of places where retirees can live comfortably. Valencia made the top five, alongside Braga in Portugal, the Greek island of Crete, the French province of Gascony and the Bay of Kotor in Montenegro.
Live and Invest Overseas describes Valencia as the “city of oranges”, the “city of arts and sciences”, the “world design capital”, the “European capital of smart tourism”, the “green capital of the future” and a “gastronomic mecca”. In its favour are the pleasant climate (more than 300 days of sunshine a year), nearby sandy beaches, well-developed infrastructure, a high quality of life and a rich cultural and historical heritage. To enjoy life in Valencia, a retired couple will need just USD 2,477 a month, 49% less than in the US.
In Braga, which is more affordable than Lisbon, Porto and the Algarve, the figure for two people is USD 2,855 a month (-41%). In the towns on the Bay of Kotor, known as the “Secret Riviera of Europe”, you will need USD 2,658 (-45%), and in the picturesque villages of Gascony USD 1,952 (-59%). The cheapest option for retirees is the island of Crete, at USD 1,865 a month (-61%).
