Exploring the Cheapest Countries in Europe To Live

Kate Sukhanova

from The Tech Report on 2023-09-11 11:02 (#6ENAA)

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Thinking about living abroad but not sure where to start? You're not alone.

Depending on your finances, languages, and skills, your immigration options may be restricted. Moving to another country isn't a cheap venture, especially if you're moving with your family or as a nomad without a job offer.

If you're set on immigration and have your heart set on Europe, though, there are a number of options that won't break the bank in the long term. In this guide, we provide an overview of the cheapest countries in Europe to live in and what your money can get for you in each of them.

Cheapest Countries in Europe to Live

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Most of these countries aren't in the Eurozone, which is a big reason why they're cheap. If you're making a salary in USD or EUR as a digital nomad, you'll be just fine in most of them.

Let's take a look at the 10 cheapest countries to live in Europe.

Poland

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Source: Statista

Average rent in Warsaw: 700-900 per one-bedroom apartment

As you might expect, Poland's capital, Warsaw, is the priciest city in the country, but there are plenty of other beautiful Polish cities like Krakow and Gdansk where you can save money. For example, rent in Krakow could be as much as 10% lowerthan in Warsaw.

In terms of consumer shopping, Polish food prices are 32% cheaper than UK prices and 50% cheaper than US prices. Transport is also more affordable, and you can visit local gems like Krakow from Warsaw for as little as 12 by train.

The country has many expats, and there's a high level of English spoken. If you're looking for a job in IT managementin Poland, you could earn 45,000 zloty (9,500) a month. If engineering or manufacturing is your forte, you could earn as much as 20,000 zloty (4,300) per month as a project manager.

Serbia

Source: Expatistan

Average rent in Belgrade: 600-800 per studio

The capital of Serbia is its most expensive city. However, you can save a lot of money if you're not tied to a specific location in Serbia by living in Novi Sad or other smaller cities.

In 2022-2023, the country received over 200,000 migrants. Many of them are digital nomads or have received a local residence card by opening a company in Serbia, and the cost of living is cheaper than in most countries in the EU.

Many of those immigrants get their income from outside of the country, which is a good way to live a comfortable life in Serbia, where local salaries are quite low.

If you're living on 1,000-1,500 per month outside Belgrade, your money will go a long way, especially when converted into RSD. Food and housing in Serbia are, respectively, 41% and 55% cheaper than in the US, and rent is 60% cheaper than in neighboringCroatia- the most expensive country in the Balkans.

Georgia

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Source: Statista

Average rent in Tbilisi: 600-800 per one-bedroom apartment

As with most countries on this list, the capital of this Caucasus gem, Tbilisi, is the most expensive city - but it's still one of the cheapest places to live in Europe. And if you move to Batumi or Kutaisi, you might not have to pay more than 300 a month in rent.

Georgia (the country, that is, not the US state) has seen a large influx of immigrants in the last couple of years. Many of them opened companies or are using the country as a base for their lives as digital nomads, as in Serbia, and the English language is spoken widely.

So, if you're a digital nomad from a Western country, you'll fit right in - not least because the internet in Georgia is very affordable.

In terms of other living costs, food in Georgia is 41% cheaper than in the US and 30% cheaper than in Germany. Eating out is also very affordable - you'll be hard-pressed to find a restaurant in Tbilisi that charges more than 40 Lari (14) per bowl of pasta.

Hungary

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Average rent in Budapest: 500-600 per one-bedroom apartment

Hungaryis home to over 100,000 expats and thousands of international students, thanks to its affordability and location. Budapest is more expensive than the rest of the country, but it's still cheaper than most other EU capitals. And in other cities in the country, you're unlikely to pay more than 500 for rent per month.

However, the country does have some of the lowest salaries in the region, with residents having low purchasing power. So, if you want to live an upper-middle-class lifestyle in Hungary, your best bet is to make an income remotely, paid in USD or EUR rather than forints, or get a well-paid job in an international company.

Compared to the US, most aspects of life in Hungary are cheaper. For instance, food is 48% cheaper, and entertainment costs 36% less than in the US, on average.

Latvia

Source: Statista

Average rent in Riga: 500-600 per one-bedroom apartment

The only country on this list that uses EUR as its official currency, Latviais nevertheless one of the cheapest European destinations. Rent will rarely go over 600 in Riga-and the capital is a real hub given that half the country's population resides there.

Many international companies use Riga as a base for their Baltic presence. If you have the necessary language skills to secure a job in one of them, you'll have a comfortable life in Latvia. The same goes for digital nomads who choose Latvia as a remote work destination, thanks to its great transport links with the rest of Europe.

The average monthly salary in the country in 2022 was 1,400. Food prices are 38% lower in Latvia than in the US, andgiven that housing and bills in Latvia are61% cheaper than in the US and 50% cheaper than in the UK,your money will go far in Riga.

Romania

Source: Statista

Average rent in Bucharest: 500 per one-bedroom apartment

A middle-class lifestyle is easy enough in Romania if you're living on 1,000-1,500per month as an employee or freelancer. Keep in mind, though, that the average salary in Romania was under 700 (3,400 lei) in 2021,though that's since gone up.

On the other hand, if you're a remote worker for a British or American company with a USD or EUR salary, you'll do very well in Bucharest, as you'll likely only need to spend a fraction of your salary on rent. If you work in IT, you'll also enjoy some of the speediest Internet connections in the world, in cities and beyond.

Food and transport costs in Romania are 50% less than in the US.Meanwhile, housing and transportation are also 16% cheaperthan in neighboring Hungary.

Albania

Source: Trading Economics

Average rent in Tirana: 400-500 per one-bedroom apartment

This picturesque Balkan country is one of the cheapest in the region - but only if you're a foreign expat. Local salaries are quite low (around 600 or 64,000-66,000 leke per month, on average), so Albania is a good choice if you have foreign sources of income rather than a job in the country.

Albania is a popular budget alternative to Greece or Italy for expats who want to enjoy the climate but don't like the EU prices. Plus, residents of most countries can stay in Albania for up to a year without a visa, like in Georgia.

In terms of the cost of living, food and housing in Albania cost more than 40% less than in the United States. Transport costs are also quite low - 50% lowerthan in neighboring Croatia, for instance.

Bulgaria

Source: Statista

Average rent in Sofia: 400 per one-bedroom apartment

Getting an apartment in the beautiful capital of Bulgaria will rarely cost you more than 400 per month.And if you want to live closer to the sea, Varna is a great choice for expats, with much lower costs than Sofia.

However, it can be challenging to find a job in Bulgaria that will allow you a comfortable standard of living. With over 30% of the country being at risk of poverty, jobs are hard to come by.

For that reason, Bulgaria is a good choice if you're earning an income outside the country - either by working remotely for a Western company or as a freelancer with clients all around the world.

If that describes you, and you're considering Bulgaria, you'll be pleased to know that its housing prices are over 70% lowerthan those of the US, while food costs are 47% lower.

Moldova

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Average rent in Chisinau: 300-400 per studio

Moldova is probably the cheapest country on the list, but it's a pretty niche one. If you want your expat life to be all about sipping cocktails on the beach while writing code, Moldova probably isn't for you, unfortunately.

However, if you're drawn to it - perhaps you love the local wine - you'll have very high purchasing power if you're working remotely for a Western company.

Bear in mind, though, that the high levels of corruption in the country mean that you may have to spend more than you might expect if you want to live in an affluent area like Soroka, for instance.

In terms of costs, food in Moldova is over 50% cheaper than in the US and 8% cheaper than in Bulgaria.

References

The post Exploring the Cheapest Countries in Europe To Live appeared first on The Tech Report.

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