York named Europe's most liveable city thanks to low rent costs, good salaries and superb healthcare - while Italian and Greek cities disappoint

If you're fantasising about ditching Britain for elsewhere on the Continent as winter draws in, it's crucial to consider your prospects for a good quality of life.And while employment, culture and transport links all play a significant part in choosing where to set up shop, cost of living is another key factor to consider.One of the top tools available to help you decide where to live is Wise's Cost of Living Index, which has compiled liveability and cost data for 41 locations across Europe and ranked them to reveal the places with the best standard of living.The rankings are based on a 'liveability score', calculated as the average of three factors: Quality of life, safety and healthcare.The index tracks the average price of a standardised basket of everyday goods and services – including housing, food, healthcare, transportation and education – and has a top score of 100.The results reveal some interesting contenders, with many UK spots in the mix. Here we take a closer look at the findings. York has been revealed as Europe's most liveable city, according to Wise's Cost of Living index This year, York has emerged as the top choice in Europe, with a liveability score of 85.This is largely down to the fact that residents are left with an average monthly surplus of £872 after essential expenses, with rent accounting for a manageable 35 per cent of take-home pay.Munich in Germany takes second place, with a score of 84.3 and a monthly salary surplus of £1,225.Rotterdam in the Netherlands completes the top three, with a high liveability score of 84 and a salary surplus of £892, combined with an excellent healthcare service.According to the study, Vienna in Austria comes in fourth place. In fifth place are two joint winners: Norwich and Amsterdam. In second place, scooping up the silver medal, is Munich, GermanyZürich (£2,698 salary surplus), Geneva (£2,159) and Frankfurt (£1,444) pair high liveability with the largest financial cushioning. Frankfurt has the lowest rent burden, at 29 per cent. Higher-cost UK and European capitals score similarly: London (63), Paris (63) and Rome (63.3) are level on liveability. However, while London and Paris maintain a positive salary surplus, Italy's capital falls short.In fact, 11 of the 30 European cities show a negative monthly surplus, all of which are in southern Europe: Porto in Portugal; Valencia, Spain; Split, Croatia; Lisbon, Portugal; Barcelona, Spain; Florence, Italy; Rome, Italy; Milan, Italy; Thessaloniki, Greece; Athens, Greece and Naples, Italy. This financial deficit occurs on account of low average local salaries, which are too small to cover a single person's average costs – including a city-centre one-bed home.Overall, northern and central Europe cities provide the most generous financial cushioning, while Switzerland has the most spare cash.France, however, has the lowest rent burdens: Lyon and Bordeaux sit at 31 per cent and Marseille at 34 per cent. Paris scores 63 on liveability, but with a £787 surplus.Spain and Portugal score well on liveability but are tight on cash. Eastern and south-eastern Europe sit mid-table, with thin margins. Rotterdam in the Netherlands takes home the bronze medal for Europe's most liveable city Florian Ramos, marketing director for Europe at Wise, said: 'A good city isn't only about the salary on the payslip. It's about what's left once rent and everyday bills are paid. Wise's Cost of Living Index puts those numbers side by side, so people can compare cities clearly before they make a move.'Our analysis suggests UK pay generally stretches further nationwide than in many major European cities, where living in the centre can be hard on local salaries. In many of those places people share a home or live further out.'At Wise, we're working to make managing money across borders cheaper and simpler, so more of what people earn goes where they want it to. The Wise Account lets you hold and manage over 40 currencies, get paid internationally and spend abroad with the card, so settling into a new city is simpler from day one.'Click here for the Wise Cost of Living Index calculator, which compares cities and countries around the world