A comfortable retirement works out cheaper in Bulgaria — around £1,200/month for a couple, versus £2,500 in Spain (about 52% more).
Cost of living, side by side
| Bulgaria | Spain | |
|---|---|---|
| Modest (couple/mo) | £780 | £1,800 |
| Comfortable (couple/mo) | £1,200 | £2,500 |
| Premium (couple/mo) | £1,900 | £4,000 |
Indicative monthly estimates for a couple — real costs vary by location, lifestyle and exchange rates.
Bulgaria: Foreigners can freely buy apartments and buildings in their own name, but under the constitution non-nationals cannot directly own the underlying land — a house with a garden is usually held via a Bulgarian company, or the building is bought separately from its plot. (EU citizens face fewer limits.)
Spain: Foreigners can buy property freely in Spain, with full ownership.
Bulgaria: Retirees typically apply for a long-stay (type D) visa and a renewable residence permit, showing a stable pension, adequate savings and Bulgarian health cover; buying property alone does not confer residency.
Spain: The non-lucrative visa is the usual route for retirees with sufficient income and health cover.
Bulgaria: Public healthcare is basic but very cheap, so most expats rely on affordable private clinics or insurance for quality and speed; UK state pensioners can register an S1 for public cover. Sofia and the larger cities have the best facilities.
Spain: Spain has excellent healthcare; legal residents can access the public system (retirees often via a UK S1 form or a paid convenio especial after a year), while the Non-Lucrative Visa requires private cover in the meantime, typically £100-150 a month at older ages.
Bulgaria: Bulgaria has a flat 10% income tax, the EU's lowest, applied to pensions and other income of residents, which makes it very simple and light for a retiree. It adopted the euro on 1 January 2026, replacing the lev.
Spain: Spanish tax residents (183+ days) pay progressive income tax on worldwide income, combining state and regional bands from about 19% up to roughly 47%, so a UK private pension is taxable in Spain under the treaty (UK government and Crown pensions stay taxed in the UK); rates vary by region, so take advice.
Bulgaria: Four distinct seasons, with hot summers, cold snowy winters ideal for the ski resorts, and pleasant spring and autumn. The Black Sea coast is noticeably milder. Bulgaria is generally safe and inexpensive; they drive on the right, English is spoken by younger people and in tourist areas but less so among older locals, and the Cyrillic alphabet takes a little getting used to.
Spain: Warm Mediterranean climate on the coasts with hot summers and mild winters, and the Canaries mild year-round; spring and autumn are ideal. Very safe and well set up for retirees; English is widely spoken along the costas, driving is on the right, and daily life is straightforward.
Bulgaria: Total buying costs are usually around 5-6% (nearer 8-10% with a buyer's agent): a 3% municipal transfer tax, notary fees of about 0.4-1.5%, and a 0.1% registration fee. Foreigners buy buildings freely but hold the underlying land via a company; completion takes a few weeks.
Spain: Budget around 10-14% in one-off costs, resale transfer tax (ITP) of roughly 6-10% depending on region, or 10% VAT plus 1.5% stamp duty on new builds, plus notary, registry and legal fees; note the Golden Visa closed in April 2025.
Bulgaria: Bansko for mountain and ski living at low cost; the Black Sea coast around Varna and Burgas for summer sun; historic Veliko Tarnovo for character; and Sofia for city amenities and healthcare.
Spain: The Costa Blanca (Alicante, Torrevieja, Jávea) and Costa del Sol (Fuengirola, Estepona, Nerja) for sun and big British communities, the Balearic and Canary Islands for scenery, and cities like Valencia for culture at lower cost.
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