'20 Cheap Places for Retirees in Europe'

This piece looks at the 20 cheapest places to retire in Europe. We can skip the detailed analysis of European real estate and retirement options and move on to the 5 cheapest places to retire in Europe.

Real estate in Europe

With a series of recent banking crises in Europe, investors are asking questions about the state of its real estate market. Due to high interest rates, lending costs have risen, real estate sector valuations have fallen and there is speculation that Europe's real estate sector could be the next to collapse. There were "clear signs of vulnerability," as the European Central Bank noted, concerning the real estate sector. While January saw inflows of European funds,''investing directly in real estate to the tune of 300 million pounds (about $380 million), then in February outflows totaled 172 million pounds (about $188 million), CNBC points out. In addition, as the impact of rising interest rates spreads, analysts believe that real estate stocks in Europe could decline by 20-40%. On the contrary, Brookfield Corporation (NYSE:BN), one of the largest real estate investors in the world, thinks otherwise. Brookfield Corporation (NYSE:BN) suggests that we should pay attention to the fact that the real estate market may offer many opportunities in the future. This is because Europe has become a leader in environmental, social and corporate regulations, providing opportunities for value creation and strong''demand for sustainable properties. According to Brookfield Corporation (NYSE:BN)'s analysis, household formation will continue despite slowing population growth in the medium term. In addition, as mortgage rates are rising, this further increases the cost of purchasing a home.

Pension options in Europe

Many renters in Europe are moving to the continent for a variety of reasons, such as free healthcare, affordable housing and favorable exchange rates. Some of the best places to retire in Europe''include Cascais, Portugal; Alicante, Spain; Algarve, Portugal; Lisbon, Portugal; and Berlin, Germany, to name a few. Many of these countries also made our list of the easiest countries to retire in, such as Bulgaria, Portugal and Malta. For those worried about language barriers and the difficulty of learning a new language, there are many English-speaking countries in Europe that they can retire to. Some of these top retirement destinations in Europe for English speakers include Portugal and Malta. Even in places where English is not the official language, a large percentage of people speak the language, especially in expat communities. Finally, to retire in Europe, people must apply for a European visa depending''pension countries. Each country sets financial requirements and criteria that EU/EEA citizens and non-EU citizens must meet, depending on where they wish to settle. Some European countries with recognized retirement visas include Ireland, Albania, Switzerland, Latvia and Portugal. To help you explore your options regarding retirement in Europe, we have compiled a list of all the cheapest places to retire in Europe.