Eastern European Countries for Cost-Effective Retirement You Should Consider

Although you might think of the Eiffel Tower and Big Ben when envisioning the backdrop of life in Europe, these four affordable European countries demonstrate that looking east can offer the perks of Europe without the high costs of London or Paris.

Bulgaria, Croatia, Romania, and Montenegro offer the culture, scenery, and cafe lifestyle of Europe at a fraction of the price. Here's what you need to know about retiring in some of the continent's most affordable destinations.

How We Chose These Destinations

We selected these four Eastern European countries based on criteria that matter most to American retirees looking to stretch their savings without sacrificing quality of life:

• Affordability: Monthly cost of living under $1,400 for a single person, including rent, food, and transportation.
• Health care access: Available medical services at a lower cost than the U.S., with options for both public and private care.
• Visa pathways: Realistic routes to legal residency for American retirees, whether through D visas, temporary residence permits, or property ownership.
• Livability: Walkable cities, established expat communities, English accessibility, and cultural richness.

Bulgaria

Located along the Black Sea, Bulgaria is at the top of the list of affordable European countries for retirees to settle down for their golden years. Bulgaria’s capital city, Sofia, is home to architectural wonders, including extraordinary cathedrals, and UNESCO Heritage Sites can be found throughout the country.

Retirees are drawn to walkable seaside towns like Sozopol and Varna, where cafes dot the spaces along the water and daily errands are easily done on foot. English is widely spoken in major cities, and the expat community is well established, especially along the Black Sea coast.

Bulgaria’s four distinct seasons—warm summers, mild springs and falls, and snowy mountain winters—appeal to retirees who want variety without extremes.

Health care in Bulgaria is fully covered for Bulgarian nationals, but tourists have reported being overcharged for medical services. However, expats who are able to show that they are living in the country are able to get health services at lower prices and a fraction of U.S. health care costs. 

Americans looking to stay need to first obtain a D Visa by providing proof of health insurance, a police clearance that meets Bulgarian standards, and proof of housing in Bulgaria.

Croatia

Along the Dalmatian Coast, Croatia can be a perfect spot for your golden years.

Each major town has good health care facilities, but if you’re in need of specialist care, then Zagreb is your best bet. Whatever your situation, it's best to have private health insurance.

For retirees who want beach days and history in one locale, Split delivers. The coastal city gets over 2,800 hours of sunshine per year, and its ancient Roman core—alive with restaurants, shops, and locals going about their day—offers a lifestyle that's hard to match anywhere in Western Europe at this price point.

Outside the peak summer months, coastal cities slow down considerably, offering retirees a quieter, village-like rhythm without losing the cafe culture and modern amenities.

The process for retiring in Croatia is similar to that in other Eastern European nations. Americans can apply for a temporary residence permit at a Croatian consulate or at a local police station if already in the country.

You'll need to show proof of health insurance, have secured a place to stay, have a clean criminal record, and enough income to support yourself (about $540 per month for the passive income permit).

Romania

Romania may too often be reduced in Hollywood to the setting for Dracula's castle, but there's nothing scary about its cost of living. At around $935 per month, it offers retirees Gothic architecture, Carpathian mountain views, and a low cost of living that's hard to beat in Europe.

Cities like Oradea, Brașov, and Sibiu offer compact historic centers, affordable dining, and a relaxed café culture that makes it easy to settle into a routine. Romania’s food scene—hearty soups, fresh bread, local wines, and a strong coffee that'll make you sit up straight—adds to its appeal for foodies on a budget.

Many retirees choose smaller regional cities over Bucharest for their slower pace, cleaner air, and lower housing costs.

Health care in Romania combines a nationally subsidized system with private medical options.

Romania doesn't have a dedicated retirement visa, but Americans can apply for a long-stay visa under an "other purposes" category. You'll need to show proof of income (about $1,200 per month), evidence that you have private health insurance, a one-year lease or proof of accommodation, and a clean criminal record.

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Montenegro

Montenegro appeals to retirees who want Mediterranean scenery without the crowds. A small country, Montenegro nevertheless offers a striking variety: beaches on the Adriatic, medieval towns, and dramatic mountain landscapes.

English is commonly spoken in coastal areas, and expat communities are growing steadily, especially in towns like Herceg Novi.

Your retirement budget stretches further in Montenegro than almost anywhere else along the Mediterranean. A single person can live well on about $1,400 a month, though the typical cost is closer to $1,000, and a doctor's visit typically sets you back about $30.

The catch is that tourist magnets like Budva and Kotor run 40% to 50% higher than inland cities, and ultra-luxury developments can rival Western European prices. However, affordable coastal destinations—such as Herceg Novi, Bar, and Ulcinj—make for lovely, quieter alternatives.

Montenegro doesn't offer a dedicated retirement visa, but property ownership has long been a popular path to residency. New rules require the property to be worth at least €200,000 (approximately $235,000), up from no minimum requirement previously. The permit is valid for one year and can be renewed as long as the property remains in your ownership.

Montenegro's tax rates remain among the lowest in Europe: 9% to 15% on income, a 9% capital gains tax, and annual property taxes ranging from 0.25% to 1% of the market value.