Lisbon, Portugal’s city on the Tagus, one of the oldest in Western Europe, was originally settled as a Phoenician trading post. But it was in the 15th and 16th centuries that Lisbon flourished. Awe-inspiring landmarks were constructed during this golden age of discovery, including the Jerónimos Monastery, the Tower of Belém and the Praca do Comercio.
[See: 50 Affordable Places to Buy a Retirement Home in 2016.]
Compared with other West European capitals — Paris, London, Madrid, Dublin and Rome — Lisbon offers the same Old World cosmopolitan flavor, but better weather, more affordable property prices and a lower cost of living. And few other destinations in Europe or the world can boast the sophistication as well as a clean, swimmable beach.
For those dreaming of a Continental lifestyle, it’s the cost that draws retirees to Lisbon. This city boasts one of the most affordable costs of living in Western Europe. Lisbon’s cost of living is an extraordinary bargain when you consider the quality of life it buys.
Featuring a vibrant downtown dotted with colorful houses and small, walkable neighborhoods, Lisbon is known as the White City thanks to the ochre stone that has been used here for construction for centuries. When the sun shines bright, as it often does in this part of the world, the stone shimmers and glistens white.
From elegant townhouses and apartments in centuries-old, classic-style buildings to new luxury condos, Lisbon offers lifestyle choices for all tastes and budgets. Top neighborhoods to consider for expat retirement living include Campo de Ourique, Lapa, Avenidas Novas, Alvalade, Avenida De Roma and Parque das Nações.
Anywhere in the city, you would have access to one of the world’s best health care systems. And medical care costs much less than comparable care in the United States. Most doctors speak English, and a specialty consultation can cost just 7.75 euros. An emergency room visit can be 25 euros.
[Read: 15 Places to Retire in Europe.]
In addition, Portugal is ranked as one of the safest countries in the world, and Lisbon in particular boasts one of Europe’s lowest crime rates. This is a healthy and safe place to live that is also friendly and welcoming. The cultural and recreational amenities and options on offer make it also one of the most interesting places in the world to call home.
Every time you step outside your door, you can find something new. This city of 2.8 million inhabitants boasts a cultural life that is rich and busy, with concerts, theater and art museums with collections spanning several centuries. Music is important to Lisboners. Every year the city hosts several summer festivals, and this summer Lisbon hosted one of the largest international music festivals of all time, Rock in Rio.
Lisbon is one of the few European cities surrounded by white sandy beaches and crystal clear waters. You’ll find 54 Blue Flag beaches in and around Lisbon and the Tagus, including some on the river banks. A Blue Flag is awarded by the Foundation for Environmental Education to beaches that meet standards of excellence for cleanliness, safety, amenities and environmental conditions.
The expat community in Portugal is well established, with 100,000 expats calling the country home full time, 50,000 of these British nationals. One of the primary attractions for Anglophone expats is that English is the second most spoken language in the country. Portugal is a welcoming haven currently looking to attract foreigners, including foreign retirees. The country is working to make the process of qualifying for residency easier.
But it’s the cost of living that makes the idea of retiring to this unsung city in the Old World such an appealing idea. A couple could live here comfortably on a shoestring budget of as little as 1,000 euro per month. Right now, that’s not a lot more in U.S. dollars, meaning that retirement in Lisbon could be more affordable than retirement in many Central American or Caribbean destinations. A more reasonable budget for comfortable retirement living would be 1,600 to 1,800 euros per month, including 650 euros per month for rent.
[See: 10 Affordable Places to Retire Overseas in 2016.]
Invest in a Lisbon pied-a-terre of your own, and you could live a better-than-comfortable life for not much more than 1,000 euros per month. Lisbon’s property market has been depressed since 2008, but is showing signs of recovery. It’s possible to buy a two-bedroom apartment in an appealing location for as little as 200,000 euros. If you buy an apartment using today’s strong dollar, your housing cost in one of Europe’s most appealing cities would be covered for life.
Kathleen Peddicord is the founder of the Live and Invest Overseas publishing group.
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Affordable Retirement in Portugal’s Cosmopolitan Capital originally appeared on usnews.com
