Buenos Aires, Argentina
An economic meltdown in 2002 drove down the cost of living in this scenic, oddly European, South American city, so it would be the perfect place for a retiree looking for a bustling city at a bargain. This city, often known as the "Paris of South America," boasts a rich night life and culture, with various opera houses and restaurants that are open until 7:00 a.m.. For those wishing to live here, there are numerous neighborhoods, or "barrios," that are prime for foreign citizens looking for a bargain, including the high-class Palermo. You can find nice, furnished apartments in these neighborhoods for $2,000 a month or you can find a bargain on a house.
Watch a Buenos Aires slide show to your left.