5 Reasons Why You Should Move or Retire in Budapest, Hungary

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September 29, 2022
5 Reasons Why You Should Move or Retire in Budapest, Hungary

It is only natural that you want to enjoy a comfortable life during your retirement. Afterall, you have worked hard for most of your life, and it is finally time you get some rest. This article discusses why you should add Budapest, Hungary, to your list if you’re looking for the best retirement destination.

Taxes and living costs make a significant retirement expense. In that case, leaving London and moving to a low cost and tax-friendly country is an option to consider. In doing so, you can lower your retirement costs and enjoy a better life. Additionally, retiring abroad allows you to experience a new culture and explore a new community.

If you’re contemplating the best countries for retirement, consider adding Hungary to the list. It is one of the most welcoming and beautiful retirement destinations that offer multiple benefits for expats and retirees.

What Makes Budapest, Hungary, a Great Retirement Destination?

Budapest is the capital of Hungary, and where can you experience Hungarian life at its best than the capital of the county itself? The city allows expats and retirees to reinvent their lives and enjoy a higher standard of living.

You can take advantage of several benefits by moving to Budapest, including a low cost of living, a pleasant environment, and much more.

Cost of Living

Retiring abroad in Budapest, Hungary is ideal for those looking to reduce costs and expand their retirement fund. The country is famous for its low costs and high-quality life. London citizens that pay a vast amount of money for an average quality of life can significantly improve their lifestyle here.

Way cheaper than the UK, the family rent in Hungary is $605 compared to the UK’s $1906. Similarly, thetransport expenses are $58.7 and $164 in Hungary and Uk, respectively. The cost of living in Budapest, Hungary, is only $995/ month compared to London’s $2956/ month. Moreover, you only need $299k to retire inthe city, whereas $887k is required to retire in London. What else? You can retire 13 years earlier in Budapest, Hungary, than in London.

You can compare the cost of living inBudapest, Hungary, with your current location and other cities on MoveNation.

Weather

Hungary fallsunder the continental region when it comes to year-round climatic conditions. The country has overall low humidity levels. The region is generally warm and experiences frequent showers and cold winters.

Summers in Budapest are warm, whereas the winters are typically cold and snowy. The city is partly cloudy throughout the year. The average annual temperatures in Budapest, Hungary range between 26 and 81 degrees Fahrenheit. The temperatures rarely fall below 12 degrees and 91 degrees Fahrenheit.

Safety

The country is a safe and peaceful place for traveling and living. Solo female travelers testify thatHungary is also safe for women.

The over all crime rate in Budapest is pretty low, but one must take safety precautions against petty crimes like pickpocketing and bag snatching. After all, no place in the world can be entirely safe.

Additionally, you should avoid walking alone at night.

Friendliness

The beautiful country offers tourists and foreign residents a safe and friendly environment.Generally, Hungarians are considered to be quiet and introverted people. But that doesn't mean they are not kind to strangers.

When you move to the city, you will find that the people of Hungary are straight forward and helpful. Expats and retirees do not have a hard time adjusting to new places and environments as they soon find helpful neighbors.

English Proficiency Level

Hungary scores 17 out of 112 on the EP English Proficiency Index 2021. According to Statista, the city of Budapest has an English language proficiency score of 628.

Across the country, only twenty percent of people can fully understand and speak fluentEnglish. You can access basic amenities like healthcare, asEnglish is common among professionals.

Bottom Line

Although quite underrated, Hungary is one of the world’s best countries for retirement. Particularly for the citizens of London, it offers a high standard of living at an affordable rate. In addition, Budapest, Hungary, is safe and friendly for expats and retirees.

If you want to compare other cities with your own, check the MoveNation app today.