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8 Best Countries to Retire in Europe

8 Best Countries to Retire in Europe

If you are looking to invest as an expat or high-net-worth individual, which is what I specialize in, you can email me (advice@adamfayed.com) or use WhatsApp (+44-7393-450-837).

Introduction

We compiled a list of best countries to retire in Europe if you’re pursuing an entirely different continent and wish to settle in the center of trade and commerce.

Best Countries to Retire in Europe: Portugal

Portugal’s gorgeous, sunny environment, diversity of long coasts, and relatively low cost of living in contrast to other European nations could give you the retirement lifestyle you desire.

For those who prefer a more active way of life, the nation has a ton of local golf courses, scuba diving spots, and water sports to offer. Of course, those in need of some downtime when retiring in Portugal always have the option of choosing the carefree lifestyle of lounging on the beach.

As long as they can prove a combined monthly income of 1,200 euros, expat retirees are allowed to settle in Portugal. The country’s outstanding healthcare system and low crime rate are only two of the factors that have contributed to an increase in the number of expats selecting Portugal as their retirement location.

The overall monthly cost of living in the country for one person can hit 547 euros on average (as of the time of writing), while it can cost about 1,922 euros for a family of four, both excluding rent.

Portugal always comes up on lists of best countries to retire in Europe.

best countries to retire in europe portugal
Sunset in Algarve, Portugal

Best Countries to Retire in Europe: France

Retirees wishing to live abroad, particularly those checking the best countries to retire in Europe, have a wide range of lifestyle choices in France. There are various options, from relocating to Annecy to take advantage of a quieter, more modest living to retiring in Paris and taking advantage of a life filled with trips to renowned art galleries, meals at highly regarded restaurants, and shopping at known stores.

Whatever region of France you choose to call your new home, you will have access to plenty of fresh food and wine, as well as good medical care and low crime rates. The language barrier can be a challenge for expats depending on where they live in the nation because many small towns do not have a high level of bilingualism. However, it seems that in the bigger cities, like Paris, language barriers are less of a concern.

The overall cost of living in the country for a family of four can hit 3,072 euros per month, while it can cost 855 euros for an individual on average per month, both exclusive of rent.

Best Countries to Retire in Europe: Slovenia

Slovenia came in near the top of the list for best countries to retire in Europe. The country provides several benefits for retirement that other European nations can’t because it is a more private and less visited nation. Slovenia has a lovely aesthetic appeal with a Mediterranean coast that is almost 30 kilometers long, as well as medieval architecture styles.

Slovenia ranked third in our list due in part to its outstanding environmental qualities, low crime rates, and lax real estate regulations for expat buyers. These were only a few of the country’s well-known characteristics. Slovenia is also one of the few nations that can provide a variety of mountain top ski areas for the winter months and mild, lakeside landscape for the balmy summer seasons. The country has well-established medical insurance programs as well but getting international medical treatment is strongly advised if you’re set on retiring in this location.

The overall monthly cost of retiring in Slovenia for one person can hit 678 euros on average, while it can cost about 2,293 euros for a family of four, both excluding rent.

best countries to retire in europe slovenia
Smartinsko lake in Slovenia

Best Countries to Retire in Europe: Italy

Italy is one of the best countries to retire in Europe for those searching for a place with a wide variety of landscape, culture, and arts. The country is undoubtedly a favorite among expats, whether they are living in Rome and seeing the Colosseum, participating in the fashion industry in Milan, or admiring the vineyards in the Tuscan Valley.

Italy boasts a wealth of benefits for expat retirees, including very low crime rates, few to no real estate limitations, and an excellent medical care program. Due to their tendency to be a little more exclusive in those areas, though, you need to be a bit proficient in learning the local language and getting to know the expat community when retiring in Italy.

The overall cost of living in the country for a family of four can hit 2,698 euros per month, while it can cost 765 euros for an individual on average per month, both exclusive of rent.

Best Countries to Retire in Europe: Montenegro

In Southern Europe, between Croatia and Albania, is the country of Montenegro, which is still regarded as a concealed treasure. Montenegro ranks high on the list of the best countries to retire in Europe because of its distinctive and old architecture, mountainous terrains, and stunning views of the Adriatic Sea.

On top of those, Montenegro provides retirees with an advantageous tax system, affordable housing options, and a cheap cost of living when compared with its neighbors, such as the UK, Croatia, and Germany. Montenegro provides expats with the chance to get permanent residency via the acquisition of a home.  Besides, the process of retiring in Montenegro becomes much simpler than in other nations thanks to its scheme that grants citizenship to individuals with high net worth in exchange for making certain investments.

The overall monthly cost of living in the country for one person can hit 479 euros on average, while it can cost 1,672 euros for a family of four, both excluding rent.

Best Countries to Retire in Europe: Switzerland

Due to its high standard of life, cheap taxes, top-notch health care system, and safety, the Alpine nation is frequently listed as one of the best countries to retire in Europe for expats.

A wide variety of outdoor activities, such as skiing, can be found in the country, as well as scenic spots with serene and pleasant mountain backdrop.

The average life expectancy in Switzerland is more than 83 years, making it the country with the highest life expectancy rates in Europe.

The Swiss government offers an exclusive retirement residency program in light of its popularity and the rising number of retirees.

Among the coolest places to settle in in Switzerland are Lausanne and Zurich, along with their surrounding areas and the cantons of Zug and Appenzell Ausserrhoden.

However, the country is one of the priciest places to retire because of all those features, which come at a price. In fact, asset management firm Mercer listed Zurich (a Swiss city) as the second most expensive city in the world for expats in its 2022 Cost of Living City Ranking. That’s just behind Hong Kong which took the top spot.

The overall cost of retiring in Switzerland for a family of four can hit 5,279 francs per month, while it can cost 1,437 francs for an individual on average per month, both exclusive of rent.

best countries to retire in europe switzerland
Lac de l’Hongrin in Switzerland

Best Countries to Retire in Europe: Greece

Greece also typically appears on lists of best countries to retire in Europe.

Greece is a not only a wonderful vacation spot but also a great place to retire to because of its historical sites, vibrant fishing villages, architecture, and a cuisine that makes the most of the nation’s exceptional seafood, olive oil, cheese, and fresh fruit.

Greece offers excellent life quality yet relatively affordable living prices, which is one of the most inexpensive in Europe.

Moreover, Greece has a golden visa scheme that gives five years of permanent residence to non-EU nationals who invest at least 250,000 euros in local property.

Among the best places to take note of when retiring in Greece are Athens, Rhodes, Santorini, Corfu, Chryso, and Crete.

The overall monthly cost of living in Greece for one person can hit 666 euros on average, while it can cost 2,282 euros for a family of four, both excluding rent.

Best Countries to Retire in Europe: Malta

Malta is one of the best countries to retire in Europe because it’s a peaceful, fascinating place that appears to have been plucked right out of a Renaissance painting. You’ll discover that the nation is a safe area where English is spoken as one of the official languages, as well as a place with a top-notch healthcare system, affordable living costs, and a relaxed way of life.

Malta may not be the most affordable place to retire, and the summers there can be very hot and muggy, but many are still drawn to the area because it has year-round sunshine and offers a wide range of outdoor sports and activities.

Malta offers a mix of ancient megaliths, medieval fortresses, rocky hinterland, beaches and coastal fishing villages, with a few cities thrown in for good measure.

Malta provides a unique combination of ancient megaliths, medieval strongholds, rocky terrain, beaches, and fishing villages along the coast, plus a few cities to boot.

If you’re a social butterfly, retiring in Malta is a superb choice to take into account because the country also has a great expat community.

Among the best places to retire in Malta are Valletta, the Harbour Area, Pembroke, Mellieha, St Paul’s Bay, and Qrendi.

The cost of living in Malta isn’t particularly very high, but how much you’ll need to retire there will depend on your spending habits. Even $2,600 a month would be sufficient for you to survive.

The overall cost of living in the country for a family of four can hit about 2,739 euros per month, while it can cost 748 euros for an individual on average per month, both exclusive of rent.

Best Countries to Retire in Europe: In Conclusion

No matter where you choose to spend your retirement years—whether it’s in the countries on this list or elsewhere—never forget that no destination is perfect. Become knowledgeable about the advantages and disadvantages of different residence options. Eventually, you should consider your personal desires and needs when choosing a place to retire to, depending on your level of tolerance, your basic requirements, and what you can live with and without. Before selecting a possible site, weigh its benefits and drawbacks. Go at your own pace.

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Adam is an internationally recognised author on financial matters, with over 760.2 million answer views on Quora.com, a widely sold book on Amazon, and a contributor on Forbes.

This website is not designed for American resident readers, or for people from any country where buying investments or distributing such information is illegal. This website is not a solicitation to invest, nor tax, legal, financial or investment advice. We only deal with investors who are expats or high-net-worth/self-certified  individuals, on a non-solicitation basis. Not for the retail market.

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