A recent study by Moneypenny, a business solutions firm, has identified Sofia, the capital of Bulgaria, as the top city for retirement in Europe.
The comprehensive analysis, which surveyed the 50 most populous cities in the European Union, evaluated various factors to determine the most suitable locations for retirees.
The study considered elements such as the average cost of living, required savings for a comfortable retirement, and the overall quality of life.
Sofia emerged as the leading city due to its relatively low average retirement age and the modest amount needed for a comfortable retirement.
According to Moneypenny, retirees in Sofia can manage with approximately 148,590 euros, a figure considerably lower than what is required in many other European cities.
Sofia’s affordability is a significant draw for retirees. The city offers a blend of historical charm and modern amenities, with a cost of living that allows retirees to enjoy a comfortable lifestyle without the financial strain often associated with retirement in Western Europe.
The availability of affordable housing, combined with accessible healthcare services and a range of recreational options, contributes to Sofia’s top ranking.
In second place is Budapest, Hungary. Known for its striking architecture and rich cultural heritage, Budapest provides a vibrant environment for retirees.
The city boasts a lively social scene with 691 cafes, 31 fitness centers, and four golf clubs, ensuring that retirees have ample opportunities to engage in social activities and maintain their health.
Budapest’s mix of historical charm and modern conveniences makes it a popular choice for those seeking a dynamic retirement experience.
Following Sofia and Budapest in the rankings are Zagreb, Bucharest, and Rome. Zagreb, the capital of Croatia, offers a lower cost of living compared to other major European cities, along with a growing array of amenities and a welcoming atmosphere.
Bucharest, Romania’s capital, combines affordability with a range of cultural and recreational options, making it an attractive option for retirees seeking a balance between cost and quality of life.
Rome, Italy’s historic capital, while more expensive than the top-ranked cities, remains a favored destination due to its rich history, cultural offerings, and pleasant climate.
Moneypenny’s study highlights the importance of evaluating various factors when choosing a retirement location.
Access to healthcare, cost of living, availability of recreational activities, and overall lifestyle quality play crucial roles in determining the best places for retirees to settle down.
As the search for the ideal retirement destination continues, Sofia’s prominence at the top of the list underscores the growing trend of retirees looking for affordable yet enriching places to spend their golden years.
With its combination of cost-effectiveness and quality of life, Sofia sets a new standard for retirement cities in Europe.