The Top 5 Countries in Europe to Retire

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Best European Countries to Retire as an Expat

The diversity and beauty of Europe have many people considering the move – and, ultimately, the commencement of retirement planning. Based on a report by Live and Invest Overseas, the top 5 suggested European countries to retire have been discussed.

When you are moving to Europe, there are many selection criteria to consider, such as:

We have tried to do some of the heavy lifting for you, so here are what we think are the top five best countries to retire in Europe: Portugal, France, Slovenia, Italy, and Montenegro.

Countries in Europe to retire

1. Portugal

Portugal has been deemed a secret hot spot for a European retirement. With a relatively low cost of living (with respect to other European countries), beautiful sunny weather, and an array of vast coastlines, Portugal can offer just about any retiree the life they want.

Portugal offers the appeal of having a tremendous amount of local water sports, golf courses, and scuba diving regions if you are the adventurous type or the laidback lifestyle of relaxing by the beach for those looking for some downtime. You can even check out the Nazare surfing hot spot and see daredevils race down 100-foot waves.

As for retirees trying to decide where to go, Portugal has established a retirement program that allows expatriates residency in the country if they are able to prove a monthly combined income of €1,500 (~$1,651/month USD). Other factors, such as good health care system in Portugal and low crime rates, are other reasons why Porgutal has continued to be on the rise for expatriates retiring abroad.

Top Places for Retires in Portugal:

  • Lisbon – if you love being in the capital city with all the access to nightlife, shopping, food, ease of transportation and much more, then Lisboa is a great place to at least start your journey in Portugal. I spent a few months back in the 1980s during a work placement with AISEC, and it was great then, but much has changed. The cost of living in Lisbon has definitely gone up and has become much more crowded than you would expect. Still, the charm of the city is still ready for future expats.
  • Porto – this is an amazing city that is much smaller and located north of Lisbon. It has amazing food and more housing options for expats.
  • Algarve – This is the southern strip of Portugal that most foreign retired expats probably head to because of the beaches and weather. You will absolutely love retiring in any one of the many expat hot spots in the Algarve region.

2. France

The close second to Portugal for retirees came to France. France offers those planning on retiring abroad a wide range of lifestyle options. Whether you see yourself living in Paris and experiencing a life of shopping at famous boutiques, attending art galleries and eating at world-renowned restaurants or choose to move to Annecy to live a slower, more humble retirement, the options are endless.

Here are five quick reasons why you should consider retiring in France:

  • Accessible – A great reason why you would move to France is that everything in the European Union is easily accessible because of the country’s location, as well as its amazing transport systems, such as the TGV high-speed trains, airports, and road network.
  • Excellent Climate – Whether you are into the sun, beaches, coastline or mountains, France has it all when it comes to climate. The southern part of France, such as Nice, is a great place for ex-pats who want excellent weather almost year-round
  • Culture – Of course, France has some of the best cultural experiences on the continent. It is a dream destination for those who love history, art and culture. Each section of the country has its own unique experiences and traditions.
  • Top Healthcare System – France is well known for providing excellent healthcare to locals and expats alike. Doctors and staff are very well trained, and hospitals and clinics are very well run and serviced with up to date technology. Once you’ve been a resident for three months, you might be able to apply for the French state healthcare system, known as “Protection Universelle Maladie” (PUMA).
  • Quality of Life – As you probably know, France is known for its high quality of life. Of course, the food is excellent, as you would expect, but the French way of life also stresses leisure, family and friends with a little wine, which has a great impact on your lifestyle and health. Whether you are in Paris or a small town, France is an enchanting place for expats who value a great lifestyle.

Regardless of where you decide to live in France, you will have fresh food and endless wine available at your fingertips, adequate medical care coverage and a low crime rate. Depending on where you are in the country, expatriates may experience some difficulties with the language barrier, as many small towns are not commonly bilingual. Language barriers, however, don’t seem to be as big of a problem in larger cities such as Paris.

best places to retire in Europe

3. Slovenia

Making its way close to the top of the list for countries in Europe to retire went to Slovenia. As a more discreet and less travelled country, Slovenia offers many retirement advantages that other European countries can’t provide. Offering a Mediterranean coastline over 30 miles long and medieval architecture designs, Slovenia has a beautiful aesthetic appeal.

A few top-rated factors that granted Slovenia the third-place position were its exceptional environmental factors, low crime rates and low real-estate restrictions for foreigners attempting to buy.

Three Quick Reasons to Consider Solvenia for Retirement

  • Low Cost of Living – Many people consider this a quaint country because the cost of living there is quite reasonable. Daily expenses such as housing, food, transport and utilities are quite reasonable. Even living in the capital city of Ljubljana will not be that much more than a smaller town like Maribor or Bled. Expats there definitely enjoy a comfortable lifestyle without breaking the bank.
  • Natural Beauty – Slovenia is a haven for those who love nature and outdoor lifestyle. The nation has natural landscapes which can give you experience of the outdoors as a central part of life.  You can expect to experience the country, which has picturesque lakes, lush forests, and majestic mountains.
  • Safety and Security – Slovenia is well regarded as a safe country to live in Europe. The country is very clean and organized with private and public healthcare. The people there are known for their hospitality and friendliness. You can also expect that most locals will know at least a little English.

Slovenia is also one of the few countries that can offer a diversity of mountain-top ski regions for the winter months and warm, lakeside scenery in the warm summer months. It is important to note that Slovenia also has well-established medical coverage plans; however, living as an expatriate in a foreign land, obtaining global medical care is highly recommended.

4. Italy

Italy is one of the best countries if you are looking for a great diversity of art, culture and scenery. Whether you are living in Rome and visiting the Colosseum, getting involved in the fashion world in Milan,  or admiring the wineries in the Tuscan Valley, Italy is definitely an expatriate favourite. With phenomenally low crime rates, little to no real estate restrictions, and an above-average health care system in Italy, Italy has an ample number of advantages for foreigners who want to retire. Living in Italy will require a bit of a learning curve when it comes to learning the local language and familiarizing it with its local expat community, as they tend to be slightly more exclusive in those domains.

Countries in Europe to retire

5. Montenegro

Considered a hidden gem, Montenegro is located between Croatia and Albania in Southern Europe. With its unique and ancient architecture coupled with its mountainside terrains and beautiful views of the Adriatic Sea, Montenegro is high on the list of desirable countries in Europe to retire.

Two Essential Reasons to Retire in Montenegro

  • Low-Cost Housing – You should consider Montenegro because your fixed retirement income will definitely go far when it comes to housing. Property prices, particularly in inland areas or smaller towns, are considerably lower than in neighbouring countries like Croatia or Italy.
  • Calm Lifestyle – The country definitely has a more laid back lifestyle with a slower pace that some really like. You can join the locals in going to the beach, having a nice meal or exploring the local trails.

Montenegro offers retirees a favourable tax environment, competitively low real estate opportunities and a low cost of living compared to its neighbours (such as the UK, Croatia, and Germany). Montenegro also offers expats the opportunity for permanent residency through the purchase of a home and its new citizenship-by-investment program, allowing the process of retirement to be much easier than in comparison to other countries.

Some Final Thoughts for Retired Expatriates in Europe to Consider

As an expatriate moving abroad for retirement, it is crucial to remember to obtain Global Health Insurance before departure. Global health insurance is the safest and most reliable option for long-term global medical care. International health insurance has the ability to travel with you from country to country. This is extremely important for expat retirees who plan on visiting family back home for the holiday season. Contact Expat Financial for expert advice and to discuss your international insurance needs and requirements. To know about healthcare system in Croatia check out our healthcare region page.