Greece is the top country in the world to retire says a study by UK-based insurance company Reassured.
Reassured came up with six key factors most people consider when they’re thinking about moving abroad. These included:
- The annual level of sunshine recorded by the country
- The average life expectancy
- The country’s cost of living index
- The average cost of accommodation
- The average cost of transport
- The percentage of the total population aged over 65
From these six key factors, the company determined a score for each, combined them together, and then ranked all countries from highest to lowest – those with the higher scores being best suited for an economic retirement.
Taking the number one spot is the birthplace of democracy. “Greece is already a popular retirement destination, so it’s no surprise that it came very high on our list,” Reassured says.
“With 2,773 annual hours of sunshine and the third-largest global population percentage over the age of 65, you’ll be relaxing in good company in no time,” it adds.
“Greece is also home to snow-capped mountains, great food, and ancient history, giving you more than enough to explore now that you’re living a life of leisure.
“What’s more, with the average cost of public transport being £26.68 per month, you’ll be doing it on the cheap as well,” the company says.
Following Greece on the list of the most desirable countries to retire are four more Mediterranean countries: Portugal, Malta, Italy and Spain.
Greece aims to become top country to retire
Greece aims to become the Florida of Europe by enticing foreign high-net-worth individuals and pensioners to make the country their home.
Many baby boomers approaching retirement age and hunting for a warmer climate to call home in their golden years are looking at Greece.
The demand of foreign nationals for second or even primary homes on the Greek mainland and the islands has increased, sending prices up.
In 2020, Greece put in place a favorable tax regime for foreign pensioners who decide to settle in Greece.
This includes a flat tax for foreign retirees who move to Greece and a non-dom for high net worth individuals, or an alternative taxation system.
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