Bulgaria’s buzzing capital is the best city in Europe to retire per new study
Moving to Europe for retirement can be the dream of a lifetime for some. But whether you’re seeking a serene coastal town or the cultural buzz of a historic city, choosing the ideal location can be difficult. This is where a new survey by business solutions company Moneypenny might come in handy. It has ranked the best locations in Europe to retire based on a number of factors that include the average cost of living, retirement savings needed, and a variety of amenities.
Moneypenny compared the 50 most populated European Union cities to come up with the ranking. Factors taken into account include retirement age, average rent cost, amount of free space, healthcare access, number of fitness clubs, number of cafes and number of gold courses.
Sofia, Bulgaria, ranks in first place as the best city to retire in Europe. The average retirement age in Sofia is lower than the other cities included in the ranking, with men typically retiring at 64, and women at 62. The city is a particularly great option for retirees looking to make their savings stretch further, with the minimum retirement savings needed to live comfortably being €148,590 ($163,035) with other cities in the ranking requiring double the amount if not more.
Budapest, Hungary, lands in second place, scoring modestly across all factors in the study. Other than boasting stunning architecture and landmarks, the city offers a great variety of recreational activities for retirees to take part in.
Budapest, Hungary, lands in second place, scoring modestly across all factors in the study.
Those relocating to the city can take their pick from 691 cafes, providing a relaxed environment to meet friends and keep up with socializing. Additionally, Budapest is home to 31 fitness centres and four golf clubs, which provide opportunities for retirees to maintain their mobility and stay healthy.
In third place, Zagreb, Croatia, offers retirees the most nature to explore, with 53.77% of the city officially declared as green space. The capital city is renowned for its abundant and well-maintained green space, making it a great destination for nature lovers and retirees seeking tranquillity and recreational opportunities. Some of the city’s most popular spots to explore include Maksimir Park, Zrinjevac Park, and Bundek Park.
Bucharest, Romania, ranks in fourth place thanks to its low monthly rental costs, averaging at €358 ($392) per month. The city has a relatively high 74% access to healthcare but only 16.44% green space (the second lowest out of the 50 EU cities researched). Still, men in Bucharest retire at 65 and women at 62, at which point they can make full use of the city’s 6 fitness clubs, 1 golf course and 311 cafés.
Rome, Italy, comes in fifth place and excels for its variety of amenities for retirees to explore. The Italian capital is home to 79 fitness centres, 13 golf clubs, and 1,052 cafes on top of the rich history that comes along with the city, with many iconic historical landmarks such as the Colosseum and St. Peter’s Basilica on the doorstep.
