Choosing the perfect overseas retirement destination can be challenging with so many enticing options worldwide. One of the joys of international living is the freedom to explore multiple destinations. Whether you opt for a roving retirement, a part-time overseas stay, or take a spontaneous leap, every adventure starts somewhere.
Each year, we compile the Overseas Retirement Index, an in-depth report assessing the best retirement destinations based on key criteria like healthcare, crime, cost of living, climate, residency, and taxes. This guide provides a more strategic approach than a dart toss.
Let’s explore the top-ranked retirement destinations by continent to help kickstart your search.
Number One in Europe: Tavira, Portugal
Tavira, in Portugal’s Algarve region, is celebrated as one of the country’s most charming and authentic towns. With its riverside promenades, swaying palms, open-air cafés, and Renaissance architecture, Tavira offers a glimpse into the Algarve of centuries past. The town’s population is about 26,000, mostly locals, though a growing number of expats are drawn by the fantastic beaches, agreeable climate, low cost of living, and traditional atmosphere.
Situated along the Ria Formosa Natural Park, Tavira boasts protected beaches unmarred by development, such as the golden sands and clear turquoise waters of Tavira Island. The town enjoys year-round pleasant weather, averaging 64°F (18°C), perfect for outdoor activities like kite surfing, snorkelling, boating, golf, and hiking.
Culturally vibrant, Tavira hosts markets, fairs, and festivals year-round. It offers several residency options, including self-sufficiency visas and digital nomad visas, and tax relief for foreign retirees through its Non-Habitual Resident scheme. Plus, the euro’s historic lows against the dollar give U.S. retirees a currency advantage.
Tavira could be your ideal spot if you seek a slow-paced lifestyle, a safe environment, and a good investment with the benefit of an EU passport.
Number One in Asia: Sanur, Bali
Sanur, a tranquil suburb of Bali’s capital, Denpasar, offers a luxurious lifestyle on a budget. This small town on Bali’s southeast side is far removed from the tourist crowds, making it an expat haven. Sanur boasts calm, reef-protected seas, a welcoming beach, and a coastal pathway perfect for bicycling and strolling.
Bali’s stunning natural beauty, friendly locals, and vibrant cultural scene provide endless activities. From diving and surfing to exploring temples and attending festivals, there’s always something to do. Sanur features many five-star amenities and a large expat community, making it easy to live well for less.
Bali offers a retirement visa with a low-income threshold and the requirement to hire local staff. Though foreigners cannot own freehold property, they can rent or lease homes. Sanur’s real estate ranges from budget-friendly options to luxurious villas with Balinese ambience.
With its cultural richness, low cost of living, and welcoming community, Sanur is a top choice for retirees seeking a tropical paradise.
Number One in Latin America: Chitré, Panama
Chitré, in Panama’s Azuero Peninsula, tops the 2023 Overseas Retirement Index. Known as “The Biggest Little City in Panama,” Chitré offers the amenities of Panama City in a smaller, safer community. Its friendly culture and preserved traditions make it a unique retirement destination.
Chitré’s low cost of living allows a couple to live comfortably on about $600 per month, with beachfront property prices up to 35% below value. The town is close to beautiful beaches like Playa Monagre and Playa El Rompío, offering plenty of recreational opportunities.
Panama’s top-tier retirement visa, use of the U.S. dollar, favourable tax policies, and excellent connectivity with North America make it an attractive option. With its blend of city conveniences, small-town charm, and cultural immersion, Chitré could be the perfect place to enjoy a laid-back lifestyle by the beach
Comments (0)