Top 15 Cheapest Countries To Live In Europe

Explore the charm of Europe without breaking the bank! While Paris, London, and Rome might be costly, consider these 15 affordable European gems for...
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Top 15 Cheapest Countries To Live In Europe

Explore the charm of Europe without breaking the bank! While Paris, London, and Rome might be costly, consider these 15 affordable European gems for your next adventure. From the picturesque landscapes of Albania and Bosnia to the historic charm of Hungary and Poland, there’s a budget-friendly paradise waiting. Discover the magic of Europe with cost-effective Europe tour packages. For seamless travel, choose the best travel agency in Dubai offering cheap Europe tour packages from Dubai. Embark on a memorable European tour from Dubai without worrying about expenses. Uncover the hidden treasures of this diverse continent without compromising your budget.

Bulgaria

Bulgaria is hands-down one of the most affordable countries not just in Europe but the world. The cost of living in Bulgaria is around 40-50% lower than the EU average. Some key things that make Bulgaria so cheap include:

  • Low cost of housing – You can rent a one-bedroom apartment even in the capital Sofia for as little as €200-300 per month.
  • Inexpensive food and entertainment – Eating out, going to the movies, etc. can be done on a modest budget. Groceries and utilities are also very cheap.
  • Lower cost of private transportation – Fuel prices are lower compared to most of Europe. Cars are also generally more affordable to buy.
  • Budget travel within the country – Domestic flights, buses, and Airbnbs also cost much less than in Western European countries.

Romania

Romania is another very affordable European country to live in thanks to: 

  • Some of the lowest rents and property prices in the EU
  • Cheap utility costs and public transportation
  • Good value for money when eating out and for entertainment
  • Inexpensive domestic travel

Though salaries tend to be lower on average than EU standards, your money can go a long way in living in urban areas like Bucharest, Brasov, Sibiu, and more.

Poland

Poland has developed rapidly over the last couple of decades, though living costs remain lower than in many parts of Western Europe. Some pointers:

  • Reasonable rents even within big cities like Warsaw, Krakow, Wroclaw and Gdansk
  • relativity affordable to buy property compared to much of Europe
  • Cheap public transport, utilities, grocery shopping bills
  • Good value for money dining and recreation

With plenty of economic opportunities and lower taxes, Poland is an interesting choice for expats looking to settle down.

Greece

Despite recent financial troubles, the cost of living in Greece remains cheaper than in countries like the UK, Germany, and France. Key factors making Greece budget-friendly are:

  • Low rents, affordable property prices outside of Athens
  • Discounted entertainment, and dining due to lower taxes
  • Cheaper grocery and utilities expenses
  • Inexpensive domestic travel by ferry or flights

Greece is also picturesque and offers a great quality of life to boot!

Lithuania

Lithuania has among the lowest costs of living in the European Union buoyed by:

  • Very affordable housing rents and property rates
  • Cheap(er) grocery, clothing and entertainment costs
  • Low taxes that help reduce living costs
  • Budget domestic travel across cities and nature

Lithuania offers great value whether you’re looking to simply save money or achieve a better work-life balance.

Latvia

Latvia shares a lot of similarities to Lithuania when it comes to the cost of living in Europe:

  • Some of the most reasonable housing rents in Europe
  • Cheap amenities, food, clothing, and budget recreation
  • Lower taxes that reduce expenses on basics
  • Very affordable domestic trips

If you looking for adventure on a frugal budget, Latvia deserves serious consideration!

Hungary

Hungary rounds out the Baltic trio of European countries that offer bargain living options namely:

  • Very affordable 1-bedroom apartments even in Budapest
  • Cheaper groceries, transportation, and recreation options
  • Lower taxes that help save money
  • Inexpensive travel across Hungarian cities and countryside

Hungary is culturally vibrant, brimming with history and nature – all available at discount European prices!

Montenegro

Montenegro has evolved into one of southeast Europe’s most popular expat and retiree destinations thanks to: 

  • Some of the lowest-cost housing in Europe
  • Cheap food and entertainment costs compared to other Mediterranean countries
  • Lower car prices and affordable healthcare
  • Inexpensive travel across Montenegro

Montenegro offers value, natural beauty, and a slower pace of life near the Adriatic Sea.

Turkey

Turkey has likely seen the highest inflation across Europe recently but it remains cheaper than most of the continent because of:

  • Reasonable property rates and affordable long-term rentals
  • Good value on dining, entertainment, and domestic travel
  • Lower cost of living away from biggest cities
  • Cheaper aspects like transportation and healthcare

If you earn foreign currency, Turkey offers good living value given its natural beauty, ruins, cuisine, and more.

Serbia

Serbia is rising as an expat destination thanks to attractive living costs such as:

  • Very affordable apartment rents even in Belgrade
  • Cheap amenities and food costs compared to Europe
  • Lower taxes that reduce expenses
  • Inexpensive travel across different Serbian cities

History, nature, and culture can all be enjoyed at a lower cost by living in Serbia.

North Macedonia

Despite its small size, N. Macedonia packs a punch when it comes to affordable living featuring:

  • Low-cost rentals and affordable property prices
  • Cheap entertainment costs and domestic travel
  • Everyday discounts on food, groceries, transportation, etc
  • Lower taxes that enable savings
  1. Macedonia offers good value whether you want to settle down or use it as a base to explore the rest of Southeast Europe.

Moldova

Moldova is arguably Europe’s most affordable country thanks to:

  • Ridiculously cheap apartment rates
  • Very low grocery, amenity, and transportation costs
  • Tax advantages for ex-pats and foreign retirees
  • Dirt-cheap domestic travel

If you want to stretch your dollar to the max, Moldova has historically offered some of Europe’s lowest living costs.

Ukraine

While the conflict has created uncertainty, Ukraine has historically offered very affordable living conditions namely:

  • Inexpensive cost of housing
  • Cheap amenities, food and entertainment
  • Budget domestic travel options
  • Lower taxes that reduce expenses

Hopefully, peace can return soon so Ukraine can regain stability and redevelop its reputation as an exceedingly budget-friendly country.

Belarus

Belarus often gets overlooked but has been home to one of Europe’s lowest costs of living because of: 

  • Highly affordable rentals and property purchases
  • Cheap food, amenity, and entertainment costs
  • Lower taxes that help reduce expenses
  • Budget domestic transport and travel

Political issues have isolated Belarus but it had emerged in recent years as an interesting affordable destination before conflict cast doubt across the region.

Bosnia and Herzegovina

Lastly, Bosnia should be highlighted as a historic, natural wonder offering affordable living conditions namely:

  • Inexpensive cost housing across many cities
  • Cheaper amenities and food bills compared to Europe
  • Lower taxes that enable savings
  • Budget travel to enjoy culture, forests, and more

Political instability has hindered Bosnia’s tourism and economic potential. Yet it remains an exceedingly affordable corner of southeast Europe.