Cost of living and average salaries in Balkan countries in 2022

In this article, we will look at the average salaries in the Balkan countries in 2022. Data on the average salary allows you to determine the approximate cost of living. Many Balkan countries offer lucrative programs for obtaining a residence permit (residence permit) in exchange for investment in real estate.

Montenegro is very popular among investors, where in order to obtain the status of a residence permit, it is enough to buy real estate for any amount, as well as confirm the presence of a minimum income of €3,650 per year per person. Similar programs for obtaining a residence permit operate in Serbia, Albania, Bosnia and Herzegovina.

How much money is needed to live in the Balkan countries in 2022? Of course, living expenses will depend on personal needs. To compile a comfortable amount for life, you need to focus on the average salary. Average salaries in the Balkan countries range from €500 to €900. True, we should not forget that migrants need more money for a comfortable life than local residents.

Average salaries in the Balkan countries in 2022

Balkan countries, listAverage salary in September 2022Average salary growth from 2019 to 2022 in percent.
Bosnia and Herzegovina€893+24%
Serbia€880 +39%
Montenegro€885 +14%
North Macedonia€780 +29%
Albania€522 +19%

Foreigners bear additional costs. It is necessary to pay for medical insurance, renting an apartment (if you are not going to buy a property). Do not forget about the costs of renewing a residence permit and paying for private schools/kindergartens (if your family has children). It turns out that €1,500 per person is enough for a comfortable life in many countries of the Balkan Peninsula. A foreigner is unlikely to have enough average local salary for a comfortable life. It is better to have an amount that is 1.5-2 times the average salary in the country.

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