Personal Finance

Retiring overseas is just a beautiful daydream for most of us. But if you’re lucky enough to have the time, either as a retiree or someone with a flexible work schedule, why not try living in an enchanting European city for a month? It can be more affordable than you think.

Many cities on the Continent offer furnished apartments available for rental for a week or a month at a time. You can save money by cooking some meals at home. Factor in your other costs, such as transportation and the occasional meal out, and dust off your passport. You can wake up in a romantic Old World city and have your coffee while you stroll along the Thames or the Tiber.

As a starting point, we’ll look at three benchmark costs: The average cost of a three-course meal for two at a mid-range restaurant, one month’s rent for a one-bedroom apartment (in both a cheaper part of the city and the [usually pricier] center of town), and a one-month transportation pass. Prices are in euros, except for London, which uses pounds sterling. One euro currently equals about $1.16 and the pound is trading at $1.30.

Costs come from Numbeo, a website that details a range of prices for about 8,500 cities around the world.

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