In Calabria the cost of living is significantly lower than in Northern Italy or Northern Europe. This, together with the 7% reduced taxation, constitutes a significant saving for foreign retirees, who want to transfer, or for Italian retirees who had decided to live abroad and who, in this way, can enjoy tax relief while returning to their own country. The cost of living is given by a set of factors, such as consumer prices, statistical indices and economic indicators. In Calabria the cost of living is very low, among the lowest in Italy. It has been calculated that a pension of 1,500 euros in Germany is worth around 3,000 euros in Calabria. For purely simplification purposes, the houses of the small towns have a cost that can vary, on average, from 30,000.00 to 70,000.00 euros. The rental of a property varies, on average, from 250.00 to 500.00 euros per month. A lunch, on average, from 15.00 to 25.00 euros.