Cheapest Country To Live In Europe
Discover the hidden gem among Europe’s dazzling array of countries—the undisputed champion of affordability, where frugality is not only a sensible choice but a delightful way of life. Yes, you read that right! In a continent often associated with opulent castles and haute cuisine, there exists a haven for budget-conscious individuals seeking a slice of European enchantment without breaking the bank. Get ready to travel with us on a captivating journey to unveil the cheapest country to live in Europe, where dreams of scenic landscapes and cultural adventures become an affordable reality. Brace yourself for a tale of extraordinary affordability, where every penny saved is a passport to endless possibilities. Let our guide illuminate the path to your European budget utopia.
Cheapest places to live in Europe in 2023
The Numbeo cost of living index collates data from all European countries showing the average cost of groceries, rent, utilities, and more. The indices represent a percentage of the country’s cost compared to New York City, which is Numbeo’s baseline.
Let’s explore five European countries which strike the balance between quality of life and a cheap cost of living.
Portugal
Portugal has one of the lowest costs of living compared to many other European countries, and along with its delicious food, laid-back lifestyle, and stunning beaches, it’s an attractive option for many expats.
Numbeo gives it a rating of 45.3. For comparison, Europe’s most expensive country, Switzerland, has an index of more than double at 114.2. This means that Portugal is just 45.3 per cent of the prices in the big apple, whereas the prices in Switzerland are 14.2 per cent higher.
Below are some costs of basic groceries, entertainment and living in Portugal’s vibrant capital, Lisbon:
Meal (inexpensive restaurant): €12
Milk (1 liter): €0.90
Bread (500g): €1.35
Basic Utilities (monthly): €128.34
Rent (1 bedroom outside of City Center): €780.50
With the Portuguese Golden Residence Permit Program, you and your family can relocate to Portugal and take advantage of a cheaper cost of living and a better quality of life.
With a minimum investment of €280,000, investors enjoy visa-free travel within the remaining 26 EU states, a fast-track route to live, work and study in Portugal, and future citizenship eligibility after 5 years.
Croatia
Croatia’s dazzling Adriatic shores is just a touch more expensive than Portugal’s Atlantic coastline with a rating of 46.7.
Coastal cities such as Dubrovnik and Split bring the average costs of living up due to their famed ‘Game of Thrones’ filming locations. Nonetheless, the crescent-shaped country with its sparkling waters and red-capped towns is still a strong contender in the low-cost options available to expats.
Prices below are from Zagreb, Croatia’s capital:
Meal (inexpensive restaurant): €9.96
Milk (1 liter): €1.17
Bread (500g): €1.11
Basic Utilities (monthly): €201.87
Rent (1 bedroom outside of City Center): €439.44
In January 2021, Croatia launched its offer of special visas for digital workers from outside of the EU, enabling them to stay for up to a year exempt from income tax.
Lithuania
Lithuania, the largest of the Baltic states and land of mineral springs, amber, and sand dunes is a popular choice for those looking to relocate abroad for a cheaper cost of living. Though not the most conventional destination to relocate to, its enchanting forested landscape dotted with lakes and rivers gives many would-be expats a reason to stay.
Almost all of Lithuania’s beaches have exemplary safety and cleanliness. It is a sport and beer-loving nation with a mixed society of Bohemian youth culture and conservative residents. Numbeo gives it an index score of 48.8.
Cost of living in Vilnius, Lithuania’s capital:
Meal (inexpensive restaurant): €10.00
Milk (1 liter): €1.34
Bread (500g): €1.40
Basic Utilities (monthly): €198.75
Rent (1 bedroom outside of City Center): €495.03
Lithuania’s Start Up Visa Program offers a temporary fast-track one-year residence permit to skilled non-EU investors and their families who want to start a company in Lithuania and employ locals. Unlike other programs, applicants are only eligible by making a business investment (minimum €50,000) and are unable to qualify by purchasing real estate.
Slovenia
Slovenia, with its natural splendor, bustling urban atmosphere, rich history, and culture has a cost of living index score of 50.8.
Famous for stunning landscapes, dramatic scenery, and shimmering lakes it is the perfect place for those seeking to relocate abroad. With some of the lowest crime rates in the EU, it makes the perfect place for children. On average, rent in Slovenia is 64.3% lower than in the United States.
Costs from Ljubljana, Slovenia’s capital:
Meal (inexpensive restaurant): €10.00
Milk (1 liter): €1.13
Bread (500g): €1.68
Basic Utilities (monthly): €258.89
Rent (1 bedroom outside of City Center): €548.55
There are two ways to become a Slovenian citizen, starting with residency – by investing in real estate or by establishing a company. Once you are a resident, in most cases you can then apply for naturalization and obtain a Slovenian passport within 10 years.
Spain
Spain is famous for its mouth-watering cuisine, Flamenco music and dance, arts and literature, architecture, and bullfights. From enchanting little towns with intriguing winding cobbled streets, quaint stone houses and breathtaking scenery, to white-sand beaches and shimmering blue waters, and the picturesque paradise of the North, Spain has much to offer.
Spain’s vibrant, open and inclusive capital city, Madrid, is given an index score of 50.6 from Numbeo, making it more around half the cost of living in New York city.
Compared with other European cities, in Madrid, utilities and groceries are among the cheapest. With its vibrant culture and spirit and some of the world’s finest museums, luxury shopping, and delicious tapas, people looking for a cheaper cost of living will also enjoy a high standard of living here.
Prices in Madrid, Spain:
Meal (inexpensive restaurant): €12.00
Milk (1 liter): €0.90
Bread (500g): €1.15
Basic Utilities (monthly): €168.02
Rent (1 bedroom outside of City Center): €791.18
Along with your family, relocate to Spain via the Spain Golden Visa Program choosing a minimum investment of €500,000 or other investment options including business, government bonds, and a bank deposit.
With processing in just 60 days, freedom to live, work and study anywhere within the EU, and visa-free travel within the Schengen zone, relocating to Spain for a cheaper cost of living and much more is a truly attractive option.
1. “Discover the Hidden Gem: Unveiling the Cheapest Country to Live in Europe!”
Are you looking for the perfect destination in Europe where you can live comfortably without breaking the bank? Look no further! We have uncovered the hidden gem that offers the most affordable lifestyle in all of Europe. Prepare to be amazed as we unveil the cheapest country to live in!
Imagine waking up every morning to breathtaking landscapes, charming cobblestone streets, and friendly locals. This hidden gem has it all! Not only does it boast stunning natural beauty, but it also offers a low cost of living that will make your savings stretch further than you ever thought possible. Here are just a few reasons why this country is the ultimate budget-friendly haven:
- Affordable Housing: In this country, you’ll find a wide range of housing options that are extremely budget-friendly. Whether you’re interested in renting an apartment in the bustling city center or living in a cozy cottage in the countryside, you’ll be pleased to discover that your housing expenses will be significantly lower compared to other European countries.
- Cost-Effective Cuisine: Food lovers rejoice! Indulging in delicious local cuisine doesn’t have to break the bank in this country. From mouthwatering street food to traditional dishes
2. “Unlocking Euro-Thrifty Secrets: The Unbeatable Charms of Europe’s Most Affordable Destination!
Portugal
Located in Western Europe, Portugal is one of the cheapest European countries to live in. In general, expats have declared that you need at least $1,000-1,500 per month in Portugal for two adults.
Lisbon, being Portugal’s capital, has the biggest number of expats in Portugal however other cities such as Porto, Braga, and Castelo Branco are cheaper. Although it has increasingly been gaining popularity (and therefore an increase in prices), it is still considered cheap compared to other countries in Western Europe (Germany, France, Switzerland, etc.)
Average costs of living in Portugal:
Rent (in Lisbon) $1,013.02
(outside of Lisbon) $500-700Meals Meal at an inexpensive restaurant $10
Meal for two at a relatively expensive restaurant $45Utilities (on average) $91.75 Public transport (single public transport ticket) $1-5 Minimum salary $718.72 See how to apply for a national (long-term) visa to live in Portugal.
Additionally: Portugal has national health coverage and provides free healthcare to children below the age of 18 and adults over 65 years old. Portugal also has one of the lowest crime rates; in 2020, it was ranked as the third safest country in the world.
Turkey
Turkey tops the list of the cheapest countries to live in Europe. Just about everything, from prices of food, public transport to accommodation, is very affordable. You can get around in Turkey by buses, minibuses, ferries, or trams. Food is also quite cheap. For example, eating out is equivalent to cooking at home. Generally, you need at least $600 for two adults per month in Turkey.
Average costs of living in Turkey:
Rent (in Ankara) $234
(outside of Ankara) $140Meals Meal at an inexpensive restaurant $3.30
Meal for two at a relatively expensive restaurant $15.40Utilities (on average) $22-80 Public transport (single public transport ticket) $0.34 Minimum salary $223 See how to apply for a Turkish visa and residence permit.
Romania
Romania is one of the cheapest European countries to live in, and Bucharest, Romania’s capital city, is fairly cheap in comparison with many other capital cities in Europe. In general, the total amount for a month spent in Romania is $700 for one individual.
Rent (in Bucharest) $351
(outside Bucharest) $250Meals Meal at an inexpensive restaurant $6.95
Meal for two at a relatively expensive restaurant $30.68Utilities $70-100 Public transport (single public transport ticket) $61 Minimum salary $471.71 See how to apply for a Romanian residence permit.
Poland
Compared to its counterparts, Poland is considered one of the cheapest countries in Europe to live in. It is also one of the most economically developed countries in Eastern Europe. The quality of life in Poland is of comparable standards, plus it is low-cost. Rent in Krakow, which is Poland’s second-largest city, ranges from $315 to $500 for a one-bedroom apartment. However, if you decide to live in Olsztyn, for example, which is a city in Northern Poland, things will be cheaper. It is the perfect place for those who enjoy nature as well as the vibrant nightlife.
The capital city of Poland, Warsaw, is generally 10% more expensive than Krakow, but it is still affordable.
Rent (in Warsaw) $517.41
(outside Warsaw) $438.48Meals Meal at an inexpensive restaurant
$6.30
Meal for two at a relatively expensive restaurant $31Utilities (on average) $183.97 Public transport (single public transport ticket) $0.85 Minimum salary $650.37 See how to apply for a Polish temporary residence permit.
Hungary
Hungary is home to more than 180,000 expats who have chosen Hungary as their long-term destination. The reason is Hungary’s low-cost living conditions, as well as its great quality of life. It is no surprise that Hungary is one of the cheapest European countries to live in. Naturally, in Budapest (the capital), the cost of living will be higher; generally by 10% to 30%. Yet rarely does anyone pay more than $600 in rent in Budapest, and the same cannot be said about other capital cities in Europe. Rent for a relatively large apartment costs $396 per month, while $150-250 for smaller apartments.
Healthcare is free for all residents. Hungary also covers first aid assistance and emergency treatment for all expats.
Rent (in Budapest) $400
(outside Budapest) $280Meals Meal at an inexpensive restaurant $6.04
Meal for two at a relatively expensive restaurant $33.85Utilities (on average) $123 Public transport (single public transport ticket) $0.88 Minimum salary $501.66 See how to apply for a permanent visa to Hungary.
Slovakia
Expats all around the world are increasingly choosing to call Slovakia their home. Its rich and diverse cultural heritage, affordable living conditions, and so much more have made Slovakia the place to go, as it is one of the cheapest countries to live in Europe. While Bratislava can be more expensive, the countryside is quite affordable.
Rent (in Bratislava) $494
(outside of Bratislava) $397Meals Meal at an inexpensive restaurant $6
Meal for two at a relatively inexpensive restaurant $30.00Utilities (on average) $181.01 Public transport (single public transport ticket) $0.90 Minimum salary $580 Check how to apply for a Slovakian residence permit here.
Czechia
The Czech Republic is the second richest Slavic-speaking country. It is, as well, one of the cheapest European countries to live in. Living costs range from $350 to $750 per month, but it all depends on where it is that you are moving to. Prices normally go down when you go out of the capital and move to a smaller city or town. Public transport and food are affordable, no matter where in the country.
The quality of life is excellent, and the job market is very favorable for expats, as Prague and other cities in Czechia offer plenty of English-speaking jobs.
Rent (In Prague) $350 up to $800
(outside Prague) $250Meals Meal at an inexpensive restaurant $6.87
Meal for two at a relatively expensive restaurant $33.04Utilities (on average) $217.56 Public transport (single public transport ticket) $1.24 Minimum salary $672 See how to apply for a residence permit for the Czech Republic.
Montenegro
Located in Southeastern Europe, Montenegro is listed as one of the cheapest European countries to live in. Prices remain relatively cheap, even though tourism in Montenegro has been at an all-time high in the past couple of years.
Rent (in Podgorica) $500
(outside of Podgorica) $150-200Meals Meal at an inexpensive restaurant $6
Meal for two at a relatively expensive restaurant $27.00Utilities (on average) $100 Public transport (single public transport ticket) $1 Minimum salary $331.33 See how to apply for a visa to Montenegro.
Latvia
Latvia, located on the Baltic Sea, is one of the cheapest countries in Europe to live in. Expatriates moving to Latvia usually face no issues when trying to find a job, as there is a shortage in the language and IT sectors. Therefore, knowledge of additional languages and especially English will be of great help, and foreigners commonly fill in these positions.
Taxes, though, are cheap, and that is one of the reasons why Latvia is a common destination for expatriates. The residence permit can either be temporary for a limited time or long-term.
Rent (in Riga) $454
(outside of Riga) $324Meals Meal at an inexpensive restaurant $9.96
Meal for two at a relatively expensive restaurant $49.81Utilities (on average) $251 Public transport (single public transport ticket) $1.15 Minimum salary $500
