According to Forbes, choosing the perfect city for retirement in Europe can be challenging, but a recent study by business solutions firm Moneypenny has shed light on the best locations. The study ranked the top cities for retirement across Europe based on various factors such as the average cost of living, required savings, and other relevant details.

Moneypenny analyzed the 50 most populous cities in the European Union, considering factors like retirement age, average rent prices, availability of free space, access to healthcare, and the number of amenities such as gyms and cafes.

The results of this study placed Sofia, the capital of Bulgaria, at the top of the list as the best city for retirees in Europe. Sofia stands out due to its lower average retirement age and the relatively modest amount needed for a comfortable retirement, which is 148,590 euros—significantly less than required in other European cities.

Budapest, Hungary, ranks second in the study. The city offers a range of recreational activities, making it a great option for retirees. With its impressive architecture and landmarks, Budapest also boasts a vibrant social scene, featuring 691 cafes where retirees can socialize. Additionally, the city is equipped with 31 fitness centers and four golf clubs, which support retirees in maintaining their health and mobility.

Following Sofia and Budapest in the rankings are Zagreb, Bucharest, and Rome.