With the present cost of living crisis, more people than ever are on the lookout for alternative living arrangements.
But relocating isn’t only for digital nomads temporarily picking up to maneuver to sunny countries during winter.
Searches for the “best country to retire to from the UK” have risen by greater than 90 per cent within the last 12 months. It shows there may be an increasing desire for older people to maneuver in the hunt for a greater quality of life.
Now a latest evaluation from Penfold has revealed the perfect countries for Brits to retire in.
The financial experts checked out the highest countries retirees already take a look at and compared them using 12 different lifestyle aspects including exchange rates, healthcare costs and the sum of money required to use for a visa.
What are the highest three countries to retire to?
Ireland got here out in a surprise third place on Penfold’s list. Good healthcare, plenty of green spaces and shut proximity to the UK make up for the less-than-ideal climate.
It was also one in every of the happiest and safest countries to settle in with retirees only needing €7,000 of their checking account to use for a visa.
In second place was Spain – well generally known as a preferred destination for British retirees. The country offers warm weather, beautiful beaches and easy accessibility by train or plane for family and friends to go to.
Spain also scores highly for happiness and safety, earning the country its high position within the list.
Croatia got here out at the highest of Penfold’s list with a significantly better cost of living in comparison to the UK. The worth of rent and each day living was almost half of what it’s for Brits who stay at home.
It also only takes a median of two hours and 5 minutes to get there with relatively low-cost flights from the UK. The financial requirements for visa applications were one in every of the bottom (around £2,839 or €3,276) and healthcare costs were also low.
What are the most affordable countries to retire to?
In relation to cost of living, countries just like the Philippines, Thailand and South Africa got here out on top with prices around half of what they’re within the UK. In Europe, the most affordable places to live outside of the highest three countries to retire in were France, Italy and Cyprus.
What are the perfect European countries for healthcare?
Healthcare is one other necessary consideration for anyone seeking to move abroad later in life. Though it’s among the finest for quality, the associated fee of healthcare in Ireland was amongst the very best. Others on the list with low prices had a few of the worst quality. Countries like Spain offer the perfect balance, in keeping with Penfold’s rankings.
Many countries also require you to have a certain quantity of cash in your checking account to use for a visa. It will possibly make relocating if you retire hard in case you don’t have an enormous amount in savings. But even countries including Canada, the US and South Africa will still can help you obtain a everlasting visa with the equivalent of £10,000 (around €11,500) or less.
