Affordable Living in Europe: Top 5 Cheapest Countries in 2023

Are you dreaming of a life in Europe, but concerned about the high cost of living? Look no further! In this article, we will unveil the top affordable destinations in Europe for 2023, where you can enjoy a better quality of life without breaking the bank. Whether you’re seeking sun-soaked beaches, charming cities, or breathtaking landscapes, these budget-friendly locations offer a harmonious blend of affordability and opportunity.

From Portugal’s laid-back lifestyle and Croatia’s stunning coast to Lithuania’s enchanting forests and Slovenia’s natural splendour, we will explore the unique charms and cost of living in these destinations. You’ll discover how far your money can stretch when it comes to everyday expenses, such as meals, groceries, utilities, and rent.

So, if you’re ready to embark on a new adventure and enjoy the benefits of a cheaper cost of living in Europe, keep reading to find your ideal destination. Whether you’re seeking career growth, family proximity, or simply a better quality of life, these affordable European destinations are waiting to welcome you with open arms.

Cheapest Countries to Live in Europe in 2023

This article highlights some of the cheapest places to live in Europe in 2023, providing insights into the cost of living and unique opportunities available in these destinations.

1. Portugal

A Delightful and Cost-Effective Haven

Portugal boasts one of the lowest costs of living compared to many other European countries. Along with its delicious cuisine, relaxed lifestyle, and stunning beaches, Portugal is an attractive option for expats seeking affordability.

With a rating of 45.3 on the Numbeo cost of living index (compared to New York City’s baseline of 100), Portugal offers a significantly cheaper lifestyle. Basic expenses in Lisbon, the vibrant capital, include an inexpensive meal for €12, 1 litre of milk for €0.90, and a monthly utility bill of €128.34.

Portugal’s Golden Residence Permit Program further enhances its appeal, providing opportunities for residency and future citizenship eligibility with a minimum investment of €280,000.

• Numbeo cost of living index rating: 45.3
• An inexpensive meal in Lisbon: €12, 1 litre of milk: €0.90, monthly utility bill: €128.34
• Golden Residence Permit Program offers residency and future citizenship eligibility with a minimum investment of €280,000

2. Croatia

A Coastal Gem with Reasonable Costs

With its breathtaking Adriatic shores and popular “Game of Thrones” filming locations, Croatia is another captivating choice for expats seeking affordability. Although slightly higher in cost compared to Portugal, Croatia still offers a compelling option for budget-conscious individuals.

In the capital city of Zagreb, you can savour an inexpensive meal for about €9.96, purchase 1 litre of milk for around €1.17, and anticipate a monthly utility bill of approximately €201.87.

Croatia’s recent introduction of special visas for digital workers from outside the EU adds to its appeal. This initiative provides an attractive opportunity for those seeking a cost-effective lifestyle while working remotely or pursuing entrepreneurial endeavours.

• Numbeo cost of living index rating: 46.7
• An inexpensive meal in Zagreb: €9.96, 1 litre of milk: €1.17, monthly utility bill: €201.87
• Special visas for digital workers from outside the EU
• Attractive opportunity for expats seeking affordability

3. Lithuania

Natural Beauty at a Lower Cost

For those looking for a less conventional but equally captivating destination, Lithuania is worth considering. As the largest of the Baltic states, Lithuania boasts enchanting landscapes characterized by forests, lakes, and rivers. The country offers a unique experience with a cost of living index rating of 48.8.

In Vilnius, the Lithuanian capital, you can enjoy an inexpensive meal for around €10.00, purchase 1 litre of milk for approximately €1.34, and expect a monthly utility bill of about €198.75.

Moreover, Lithuania’s Start-Up Visa Program provides a one-year residence permit for skilled non-EU investors and their families, encouraging entrepreneurship and contributing to the country’s dynamic business environment.

• Numbeo cost of living index rating: 48.8
• An inexpensive meal in Vilnius: €10.00, 1 litre of milk: €1.34, monthly utility bill: €198.75
• Start-Up Visa Program for skilled non-EU investors and families

4. Slovenia

A Tranquil Oasis with Reasonable Prices

Renowned for its natural beauty, bustling cities, rich history, and culture, Slovenia strikes an ideal balance between affordability and high quality of life. With a cost of living index rating of 50.8, Slovenia offers an appealing destination for those seeking affordable living in Europe.

In the capital city of Ljubljana, basic expenses remain reasonable. Enjoy an inexpensive meal for around €10.00, purchase 1 litre of milk for approximately €1.13, and anticipate a monthly utility bill of about €258.89.

Slovenia’s residency options provide opportunities for potential naturalization and obtaining a Slovenian passport within 10 years, further enhancing the appeal for those seeking long-term stability and EU citizenship.

• Numbeo cost of living index rating: 50.8
• An inexpensive meal in Ljubljana: €10.00, 1 litre of milk: €1.13, monthly utility bill: €258.89
• Residency options leading to potential naturalization and EU citizenship

5. Spain

Vibrant Culture and Affordable Living

Spain, renowned for its cuisine, arts, architecture, and captivating landscapes, is a vibrant country that offers diverse experiences. In the bustling and inclusive capital city of Madrid, you can enjoy a cost of living that is approximately half that of New York City, with a Numbeo index rating of 50.6.

In Madrid, you can relish an inexpensive meal for around €12.00, purchase 1 litre of milk for just €0.90, and expect a monthly utility bill of approximately €168.02.

Spain’s Golden Visa Program provides opportunities for residency, and freedom to live, work, and study within the EU, making it an attractive option for those seeking an affordable cost of living and the benefits of European citizenship.

• Numbeo cost of living index rating: 50.6
• An inexpensive meal in Madrid: €12.00, 1 litre of milk: €0.90, monthly utility bill: €168.02
• Spain Golden Visa Program offers residency and freedom within the EU

Conclusion

In conclusion, Europe offers a range of affordable destinations that allow individuals to enjoy a high quality of life without straining their budgets. Portugal, Croatia, Lithuania, Slovenia, and Spain stand out as excellent choices, each offering its own unique attractions and opportunities.

Whether you seek a relaxed coastal lifestyle, natural beauty, or vibrant city living, these budget-friendly European destinations are ready to welcome you with open arms.