Spain is one of the countries with the lowest cost of living in Western Europe and, as such, a favourite retirement destination for US retirees. And yes, although almost anywhere in the Iberian country can offer a less expensive lifestyle than in the US, that doesn't mean that Spain doesn't have options for all budgets. Whether it's a villa with sea views or an urban studio, a Michelin-starred restaurant or a $10 menu del día, Spain has an option for every situation.

Below, let's explore three destinations favoured by many of our clients. Each of them ideal for the retirement of a couple over 60 but with very different standards of living.

See: Success Story: Real Estate Investment in Spain

MARBELLA: luxury for 9.665$ per month (8.239,27 € per month)

Marbella is a town on Málaga's Costa del Sol, a high-end destination for the international jet-set. Football stars, Saudi princes and Russian oligarchs have their playground in Marbella, and the marina is the best definition of the town: luxurious yachts, designer boutiques, chic restaurants and cocktail lounges.

Marbella's climate is ideal thanks to the proximity of the Sierra Blanca, a mountain range that protects the city from the wind and modulates its temperature. But, of course, enjoying all that goodness doesn't come cheap. It takes a rent of around 3650 dollars a month (3.111,57 €) to afford a penthouse with sea views, three bedrooms, five bathrooms, a terrace, a balcony and two parking spaces in a complex with two swimming pools and private gardens.

Also included in our budget of $9665 are utilities - about $210 per month - dining out eight times a month for about $900 and a cleaning service five days a week for $1.200.

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VALENCIA: average standard of living for $3.348 per month (2.854,12 €)

Valencia is an ideal destination for millions of tourists every year. It has it all: mild Mediterranean climate, urban beaches, green spaces, lots of culture, post-modern architecture and a very attractive historic centre. Not only that, but during the Falles (Les Falles), the city throws itself into a huge party, suitable for people of all ages.

In short, for anyone looking for their own private home in Europe, Valencia offers everything you want and more: lifestyle, urban amenities, real estate. All for a ridiculously low price compared to what you would pay in Madrid or Barcelona.

In Valencia you can choose to skimp more or splurge, but our budget is based on an in-between approach. 851 USD (725.46 €) for the monthly rent of a furnished three-bedroom, two-bathroom flat in the trendy Ruzafa neighbourhood, with balcony, air conditioning and lift. Utilities for about $134 per month. A $75 gym membership and twice-monthly maid service for $61.

And the best part: enjoy good paellas eating out twice a week for $390 a month.

ALICANTE: economic retirement for 2.010 $ per month (1.713,49 €)

Alicante is lively, sunny, cheap; charming yet sophisticated. The Costa Blanca's climate is possibly the best in Europe, with 325 days of sunshine a year and low humidity. The city boasts miles of beaches - eight in all - palm trees, a classical castle and a beautiful tiled promenade by the sea. And in a way, Alicante is Europe's bargain because it offers it all for little money.

That is why, although Alicante's permanent population is 350,000 - including a strong expatriate community - during the summer it swells to one million people.

The one offered here is a basic budget. A rent of 547 dollars (466.31 €) gets you a one-bedroom flat in Alicante, furnished, exterior, with balcony, air conditioning and lift. Also included are utilities for US$97 per month, dining out twice a week for US$156 and a round of golf for US$29.

Conclusion

In short, the best thing Spain offers retirees from all over the world is that, whether they live luxuriously or simply, the country allows them to design a lifestyle to suit their budget. Food, lifestyle, history, architecture, fiesta. And of course, the sun and fun, which are free for all.