Saving money for retirement is always many people’s goal, whether you are a single young worker or just building a family. Make sure you live somewhere with a fair cost of living as it is one of the most economical methods to free up money. To assist you to avoid costly relocations, there is a compiled list of the cheapest places to live in Europe.
There is no other place on the planet like Europe. Its magnificent monuments disclose layers of history after layers of heritage and culture, and its gorgeous natural beauty is diverse. Its countries, which range from wild to exquisite, bring together a rainbow of ethnicities, and its scenery is as fascinating as its history.
Europe may be one of the smallest continents, but it makes up for its lack of size with a range of different cultures. The most stunning destinations in Europe include magnificent beaches, bluebell meadows, spectacular scenery, and some of the world’s best majestic mountains. The possibilities seem limitless, which makes planning to travel or relocating here difficult and time-consuming.
Because of low healthcare costs, a declining euro currency, and moderate inflation, Europe enjoys a cheaper cost of living overall. Europeans, on the other hand, tend to pay a higher percentage of their income in taxation and have lower average incomes than people from other continents. You can also have a look at the Cheapest Countries in Europe and plan your stay.
Europe is widely regarded as one of the most expensive continents around the world, featuring some of the world’s most expensive cities. This is not totally accurate, as most countries throughout the world have both costly and affordable housing options. This article lists the cheapest places to live in Europe which have fantastic weather, many job opportunities, are incredibly cheap, and also have all the western amenities you must be looking for.
Choosing to live in one of the cheapest places to live in Europe listed below could lead to significant savings. Listed below are the cheapest places to live in Europe with the least cost of living in the continent, based on the average gross rental and estimated annual expenditures for mortgage-paying residents in each metro area.
8 Cheapest Places to Live in Europe
1. Lisbon in Portugal
Lisbon is the hilly, seafront capital of Portugal. The vista from the majestic So Jorge Castle includes the pastel-colored monuments of the ancient city, like the Ponte 25 de Abril suspension bridge and the Tagus Estuary. The Royal Azulejo Museum, located nearby, contains colorful ceramic tiles from five centuries.
From Estoril to Cascais, a line of Atlantic shores may be seen just across from Lisbon. Lisbon is among the most picturesque and multicultural cities in Europe. It’s a region intrinsically connected to the coast, set over a range of hills near the edge of the River Tagus, and is a bright and colorful location.
Lisbon is a very safe and peaceful city. It is a relatively safe city even for women who live alone, with a low level of crime and only a few cases of violent crime. Muggers and valuables left unprotected in cafes, coffee shops, taxis, and other public places should be avoided, as they should also be in most European capitals.
For people who just moved here, walking at night in downtown Lisbon is completely safe as well, but caution is advised in some places at night and when commuting alone, like in any other big city.
Lisbon, especially in the north and west of Europe, offers outstanding quality food, fantastic accommodations, and vibrant nightlife at half of the expense of some of Europe’s major metropolitan areas.
What is the Cost of Living in This Major City?
The good thing is that, unlike many other European capital cities, Lisbon is inexpensive and one of the cheapest places to live in Europe. However, Lisbon is the capital of the European Community’s poorest nation. Portugal has a 20% inflation rate and a higher than 10% rate of unemployment. Its gross domestic product per capita is at $2,000, slightly higher than Panama’s.
Lisbon was destroyed by an earthquake in 1755. Regardless of the fact, it is one of the most attractive and sophisticated cities in Europe.
2. Sofia in Bulgaria
Sofia is the capital city of Bulgaria, a Balkan country. It is located in the nation’s west, just below Vitosha Mountains. The city’s monuments depict more than 2,000 years of tradition, encompassing administration by the Greeks, Romans, Ottomans, and Soviets.
Sofia is abode to the Ballet of Bulgaria, National Opera, the National Center of Cultures, the National Stadium Vasil Levski, the Ivan Vazov National Theatre, National Archaeological Gallery, and the Serdica Theatre. All of this has cultural relevance in Southeast Europe. Even with all this beauty, it is amongst the cheapest places to live in Europe.
Experience of Living in This Cheap European Country
There are many parks and scenic mountains, the food, beer, and wine are of excellent quality and reasonably priced, and even the residents are pleasant. Another advantage to considering relocating to Sofia is that this is one of Europe’s most affordable cities, with even travelers able to enjoy a little luxury.
Sofia’s foods and beverages are very affordable by European standards, and even more so when compared to similar cities in erstwhile Eastern Europe. In terms of housing, Sofia is ranked 92nd out of 105 nations, hence, saving a spot for itself on the list of the cheapest places to live in Europe.
However, to compensate, the approximate minimum salary is around 260 euros a month, which is one of the lowest in Europe. Bulgarian households have around half the economic output of those in other European nations.
3. Warsaw in Poland
Warsaw is known for its dazzling neon signs, which date back to the revolutions, and the Neon Museum is a great place to see these, as well as some remarkable electro-graphic creations from the Cold War period, all in one well-lit area. Warsaw is Poland’s largest and capital city, formally known as the Capital City of Warsaw.
The metropolitan is located on the Vistula River in the east-central part of the nation, and its populace is currently assessed at 1.8 million people, with a broader metropolitan region of 3.1 million people, making Warsaw the European Union’s 7th most populated capital. \
Warsaw is a global leader, a significant cultural, social, and economical center, and the nation’s capital. It has a UNESCO World Heritage Site in its ancient Old Town.
Lead a Happy Life at a Low Cost in Warsaw
Warsaw, as Poland’s biggest city and one of the cheapest places to live in Europe, is the most liberal and welcoming metropolis in the nation. It is the place where younger folks flock in quest of a better and more fulfilling life, and the area’s LGBTQ+ scene reflects this.
Excluding rent, a typical family will spend around $2,048 ($8,249z) every month. Excluding rent, a single person’s projected monthly expenses are approximately 610$ (2,457z). Residents in Warsaw enjoy the historical and architectural life and entertainment facilities, which they consider to be the city’s greatest asset.
While not entirely safe, downtown Warsaw is one of the safest neighborhoods in the city. Residents are advised to travel in groups and prevent being alone late in the evening. It is important to stay in tourist-friendly regions even if you heed these warnings. Pozna and Warsaw were ranked as the second and third safest cities, respectively.
As per the research, the general improvement of public areas helps security, as does the fact that every city has CCTV cameras in addition to police and local guards monitoring the sidewalks, parks, and squares. They also value the inexpensive living costs, well-developed amenities, and easy access to public transit.
4. Bari in Italy
Bari is a beautiful coastal city on the Adriatic Sea and the center of the Puglia province in southern Italy. Bari Vecchia, the maze-like ancient town, is on a promontory amidst two bays. The eleventh-century Basilica di San Nicola, a famous pilgrimage destination, houses a few of St. Nicholas’ relics and is flanked by small alleyways.
Bari has the biggest port on the nation’s Adriatic coast, and it is the area’s second-largest commercial center after Naples, thanks to its accessibility to several shipping lanes. Bari, on the other hand, is much more than a port. It is a less-traveled off-the-beaten-path getaway with outstanding food, palaces, cathedrals, and welcoming people.
The Murat sector, located to the south, features magnificent 19th-century buildings, a boardwalk, and pedestrianized shopping zones.
Adventurous Living in a Cheap Country with Rich History
With connectivity to Greece and north to Croatia, Bari is becoming increasingly popular among those wishing to relocate to a city with greater career options and more greenery. Fortunately for many people, this implies that it is now in the ideal limbo between becoming a low-cost, off-the-grid destination with amazing tourist destinations. This makes it the ideal city for affordable shifting and one of the cheapest places to live in Europe.
You can also save transportation costs in Bari as there are railway links to the Bari Airport and vehicles that run around the city, the main center of Bari is conveniently walkable. There are numerous parks in the area, and the entire city is active and welcoming.
5. Bucharest in Romania
Next on the list of the cheapest places to live in Europe is Bucharest, the nation’s capital and economic center located in southern Romania. The large, national socialist era Palatul Parlamentului public building is the city’s most famous landmark. The ancient Lipscani district, which includes the modest Eastern Orthodox Stavropoleos Monastery and the 15th-century Curtea Veche Castle, has a vibrant nightlife and social scene.
In contrast to many other large European cities, Bucharest has a low rate of violent crime and significant threats. Unfortunately, in Bucharest, petty crimes can be a concern, and residents should be mindful of the risks of minor crimes.
Around the 1900s, Bucharest was labeled ‘Little Paris,’ not only because of its magnificent architecture, but also because inhabitants embraced one another in French, dressed in the newest Paris trends, and frequently traveled to and studied in France’s buzzing capital.
Vibrant yet Lively and Cheap Country
Bucharest is well-known for boasting one of Europe’s quickest internet access. The same may be said about a significant advancement in the realm of information technology. Because Romanians are very competent programmers, several multinational businesses, such as IBM, establish offices in Bucharest. Romanian is Microsoft’s second predominant language, following English.
Many individuals are continually astounded by how far their income can extend by living in Bucharest. Entertainment and leisure activities are likewise extremely inexpensive. Overall, it is less costly than Western countries, but apparently more so than the rest of the globe. Bars, restaurants, nightclubs, public transit, and housing are all far less expensive than in Continental Europe.
6. Kyiv in Ukraine
Kyiv is often referred to as Kiev, it is Ukraine’s capital and largest city. It is located alongside the Dnieper Creek in north-central Ukraine. Kyiv had a population of 2,962,180 people on January 1, 2021, ranking it Europe’s ninth most populated urban city. It is among the most stunning cities in the world, with a plethora of world-famous tourist attractions.
Kyiv is considered Europe’s hidden pearl as well as the most beautiful place among all post-Soviet nations. It is a universe within itself, attracting visitors from Russia, Europe, the United States, and other countries of the globe.
This beautiful city is an outstanding Eastern European commercial, economic, cultural, and social hub, still, you will be shocked how inexpensive it is and how it is one of the cheapest places to live in Europe. Many high-tech companies, institutions of higher learning, and historic sites are based here.
Kyiv became Ukraine’s capital after the Soviet Union collapsed and the nation gained independence in 1991, and it saw a continuous influx of indigenous Ukrainian immigrants from other parts of the nation.
Kyiv was a crucial home for the Christianization of Kyivan Rus and the ancient cultural center of East Slavic heritage. It has preserved its cultural significance over the decades, and even in periods of near collapse, it has stayed the center of Eastern Orthodox Christianity’s principal significance.
Live a Life You Love in Stunning yet Cheapest City
Kyiv is not only a very safe city, but it is also a very cheap city. It is perhaps the cheapest capital city in Europe, with rates that are typically comparable to those found in popular holiday destinations in Asia, such as Thailand, with Kyiv possibly being even lower. Excluding rent, a typical family will spend approximately $1,616 ($45,794) per month.
Excluding rent, an individual person’s projected monthly expenses are approximately 468$ (13,261). In 2022, the average wage in Kyiv is expected to be roughly 20000 UAH per month. Kyiv has the greatest average income in the nation and is home to the majority of foreign company jobs.
7. Ljubljana in Slovenia
Ljubljana is Slovenia’s capital and biggest city. It is recognized for its group of university students and extensive open spaces, such as Tivoli Park. The city’s ancient town and economic center are separated by the Ljubljanica Stream, which is surrounded by outdoor cafes.
The National Gallery of Slovenia, which hosts historical exhibits, and the Museum of Modern Art, which houses 20th-century Slovene artworks and sculpture, are among the many galleries in Ljubljana.
It is the nation’s cultural, intellectual, financial, political, and regulatory hub and one of the cheapest places to live in Europe. It is not as large or well-known as Prague, but it is cozy and charming. It has a historic quarter, a hilltop castle, numerous restaurants, cafés, cathedrals, and waterways.
Reside in Central Europe at Low Cost
Ljubljana is another beautiful little European capital city with a charming Old Town and a few other must-see monuments. The notion that it is a little capital city that is inexpensive and attractive is just a treat.
Ljubljana is the lush country’s green capital. The central market and the neighborhood on each bank of the water with its lovely bridges add more to its beauty. The metropolis of tens of thousands of festivals is flanked by parks and nature preserves. Excluding rent, a person’s approximate monthly expenses are 782$ (691€).
Ljubljana is an absolutely secure city to visit. Although thieves and bag snatchers are common, small theft must be your chief concern, so keep an eye out for them.
8. Budapest in Hungary
The Danube River runs through Budapest, Hungary’s capital city. The Chain Bridge, built in the nineteenth century, links the steep Buda region with the flat Pest area. The Budapest Museum of natural history covers city life from Roman times forward, and a railway goes up Castle Hill to Buda’s Old Town.
Budapest is one of Europe’s most beautiful cities and is one of Europe’s most stunning cities, overlooking the Danube. It is not only picturesque, but it is also rich in history, culture, exciting things to do, high-quality and reasonably priced wine, and delicious food.
Budapest is famous across the world for its amazing natural hot springs, some of which have been utilized to provide locals and visitors with the leisure to rest and revitalize in thermal baths.
Amazing Culture in a Charming City
Budapest is regarded as an ‘affordable’ place to live, but this, of course, varies on your specific requirements. The city is cheaper than most European capitals, with a large range of exciting activities for both budget travelers and luxury jet-setters. In Budapest, the median earnings in 2022 are roughly 300,000 HUF (or €817 euros) after taxation.
Budapest wages are significantly higher than those in the rest of Hungary. Although the fact that the average pay in Budapest appears to be modest, there are numerous chances for ex-pats. Though Budapest is known for its inexpensive housing, it is a wonderful area to live, as per city rankings, with high scores in living costs, business independence, and safety.
It is a secure place, especially for residents, with a location score of 76, minor criminal activities do occur, but you can stay secure with just a few common-sense precautions. Even the tourists are not subjected to any violent criminal acts. People just need to prevent locations where strolling alone at night is dangerous.
In the Continental or Central European culture, people in Budapest are highly courteous. They are also very gallant in an old-fashioned sense, lifting their hats, kissing ladies’ hands, and opening doors for you. Hungarians, majorly, on the other hand, are upfront and honest in their criticisms.
Why Living in Cheap European Countries is the Best Choice?
Many people think about European countries as an expensive place to travel, much less they consider leading extravagant lifestyles by finding the cheapest places to live in Europe. There are many affordable countries in Europe with major cities which make for the best and cheap destinations you can live happily in, with your family or even alone.
Moving to a foreign country to live in can be scary, so make sure whilst you are checking out the cheapest places to live in Europe, also check out about the culture, safety statistics, and food prices, as many things can lead to making your stay difficult.
If you are a young professional, check out 10 Cheapest Countries to Live and Work in Europe to develop an insight about certain cheapest places in Europe where you can live and work without much stress.
If you want to relocate to the cheapest places to live in Europe with your loved one and maintain a low cost of living, you will need to be innovative and think outside of the box.
If you think about relocating to Paris or London, your pockets need to be heavy. If not, you can choose to live in any of the cheapest places to live in Europe mentioned above, they are equally lovable and stunning, have great food, and friendly neighborhoods, just at a lower cost.