Retiring in Europe: Where’s best?

After years of enduring a hard work life when finally retiring you want to relax and make the most of life. Retiring abroad has become a popular option for retirees as it means a change of scenery, new people, new experiences and can even mean a lower cost of living.

So, if you fancy breakfast in the sun and a late morning stroll along the beach you might want to consider retiring somewhere in Europe.

Here are just a few of the best countries to retire to in Europe:

Portugal

If the sunny days, stunning beaches and a plethora of activities on offer in Portugal isn’t enough to win you over the cost of living certainly will be. It’s on average 30% lower than the cost of living in any other country in the region. Property, food, wine and bread are all better priced in Portugal in comparison to other countries and rent in the centre of Lisbon is only a third of what you would expect to pay in London.

As well as a good cost of living, Portugal also has beautiful summer weather, the friendliest people, little road traffic and some of the best seafood. There’s lots to see and do so you most certainly won’t be bored when retiring to Portugal.

France

More people are moving to France every year making it another popular expat destination. The majority of people that permanently move to France are over retirement age and are attracted to the European country because of its delicious food, beautiful weather, amazing roads, excellent healthcare and reasonable living costs.

The cost of petrol and alcohol are significantly cheaper to the cost of the UK, which lures people to settle down in the gorgeous historic towns. The healthcare is also another temptation for many and is referred to by the French as the best healthcare system in the world.

Slovenia

Slovenia has long been a hidden gem of Europe but has become increasingly popular in recent years due to its pure natural beauty and renowned Lake Bled. The country’s lush green landscape which is backed by towering snow-capped mountains make it a retirement haven.

The clean and peaceful living, epic scenery and diverse cuisine are just a few reasons why so many retirees are choosing to move over to the picturesque country. The fact that it’s one of the safest countries in the world and has great healthcare facilities also helps to persuade retirees that it’s a good place to settle.

Italy

It’s not hard to see why Italy is such a desired retirement destination. The country has a mild climate and is packed full of historic walled towns, quaint villages, wondrous architecture and Mediterranean beaches. Not only this but the World Health Organisation ranks the country number two for quality of healthcare.

In addition to this, the many UNESCO World Heritage Sites and activities that are available across the country make it a perfect place to spend your retirement exploring. If plenty of wine and delicious food with a side of rich culture is how you want to spend your retirement then Italy is the place to go.

Malta

Malta has been a popular holiday destination for a while, but an increasing amount of people are now choosing to settle down there.

The country has one of the best climates in Europe and English is spoken as the second official language making it appealing to many, but great weather is just the start.

Malta is bursting with charm and is home to stunning historic cities and sparkling waters making it easy on the eye. It’s also an affordable place to live with basics such as rent and groceries being inexpensive. Public transport and eating out at restaurants are other things that won’t break the bank in Malta so enjoying life over there won’t be difficult.

There’s lots to do in Malta such as trekking and watersports and there’s also a large established expat community out there, so you won’t be alone.

What to consider when retiring abroad?

If you’re thinking about retiring abroad and one of these countries has tempted you, don’t waste any time in kicking off the process.

Here are a few things you need to think about:

• Know and understand the visa requirements for your new country of residence
• Decide whether to rent or buy a property (renting is advised at first)
• Consider the effects retiring abroad may have on your finances e.g. pension
• Choose a European removals company
• Sort out international health insurance
• Make sure you know what your tax requirements are in both your home country and new country of residence
• Consider other financial planning such as opening a bank account in your new home country