The Best Foreign Destination For Brits to Retire

Many UK citizens decide to up sticks and move abroad once they retire. Favourite Brit destinations include Spain and Lanzarote but there are plenty of other choices out there across the whole of Europe.

The team at credit advice site TotallyMoney have carried out some serious research and come up with a list of 19 of our favourite retirement destinations. The infographic they’ve produced allows you to see at a glance the cheapest places to set up a new home as well as a few of the more expensive.

Europe is a popular choice because of its close proximity to the UK but other factors seem to be influencing us Brits including expat population and house prices.

Here are some highlights from those top 19 destinations:

Veliko Tarnovo in Bulgaria

Ex-Eastern block locations are becoming increasingly attractive for retirement because of the low cost of living. In at number 19 on the list, this idyllic looking city on the banks of the River Yantra has plenty to recommend it. Average property prices compare well to the UK at just over £175,000 and there’s a small, but sizeable expat population in their mid to late 60s.

Istra in Croatia

Another of our Baltic neighbours, if you love that old world feel and some great architecture and beautiful countryside, Istra is an ideal place to set up home. A two bedroom property will cost you in the region of £229,000 and summer and winter temperatures are comparable with the UK. With over a thousand restaurants to choose from, it’s got a smaller expat population than other places but this is starting to grow.

Cork in Ireland

If you don’t want to be that far from the shores of Blighty, heading to Cork might be a better option. With your average two bed house costing about £220,000, the location also has a pretty high happiness index. There are also some 14,000 or more expats to make you feel at home. Cork is the perfect location if you enjoy outdoor walks and cosy restaurants and bars.

Rhineland in Germany

Mainz is another popular choice in Europe for British retirees and there are over 12,000 who decided to set up home in this scenic area. With average house prices at just a shade over £221,000, there are, in addition, plenty of restaurants, museums and other activities to keep you busy. A little colder in the winter than some other locations but it’s more than made up for by the friendly, welcoming atmosphere.

Of course, there are some more expensive places you can move to across Europe. If you decide to settle in Berlin, for instance, a two bedroom property will cost in excess of £600,000. One of the most expensive areas in recent times has been the Algarve in Portugal, where you should expect to pay over £800,000 for a similar property.

The team at TotalMoney looked at a number of parameters including the restaurants, house prices and expat population of specific locations to gauge which the best for retirement were. You can take a closer look at the full list of 19 places on their website.

About Charles Knox 1393 Articles was established to deliver accurate financial information that can help anyone that wants to take control of their finances achieve financial freedom. My Finances is your go-to place for online news. This site gives you an exceptional variety of news and information that helps you make the right financial decisions. We provide features, guides, access to companies offering professional advice & comparisons for smart money choices.