old city buildings at night

The article was written by Kathleen Peddicord for the prestigious Forbes magazine and highlights the five cities in the world that are considered the safest and cheapest to live in during retirement. Between Panama, Greece, Mexico and Spain… comes a Portuguese city.

“Portugal has never been so popular with foreigners – especially Americans,” reads the article in the American business and economics magazine.

“From 2021 to 2022, the number of Americans living here increased by more than 34% – the largest increase of any continental group in that period,” says Peddicord, noting that “most expats in Portugal are concentrated in the Algarve, Lisbon and Porto, which, as a result, have seen increases in the cost of living and real estate prices in recent years.”

“That’s part of the reason why I recommend Braga, a little-known city in the north of Portugal,” the columnist points out, describing the Minho capital as “elegant and well-equipped” but still “affordable by most people’s standards”.

The author also calculates the cost of living in the city, estimating that “a monthly budget of 2,855 dollars (the equivalent of 2,608 euros) is enough for a couple to live well in Braga”, known as the “Rome of Portugal due to its many churches and cathedrals and the almost constant sound of bells”.

The Forbes article also states that “Braga has an attractive historic center, many cafés, restaurants, stores, churches, hotels, businesses and houses”, and notes that Portugal has lost some of its appeal as a “retiree’s paradise” with the end of the Gold Visa and the tax reduction program for foreign retirees.

Chitré (Panama), Crete (Greece), Mazatlán (Mexico) and Valencia (Spain) are the other cities mentioned in the text.

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