- Spain proves to be the best country to retire abroad, with 4 cities in the top 5 destinations to pick.
- Lanzarote best overall destination to retire, topping the charts for winter sun.
- Algarve is the best value option for retired Brits looking for top of the range entertainment on a budget.
When it comes to planning your retirement, the idea of living abroad is a dream for many. To help bring those fantasies one step closer to reality, credit experts TotallyMoney have ranked the places Brits should really be considering to retire abroad, making it easier than ever to find a destination that is both budget-friendly and accommodating.
Spanning across the majority of European hotspots, the research explores a number of different key decision-making factors including the average property price; the average year-round temperatures and the happiness index of your new home. Other important influencing aspects that have also been factored in, with everything from the number of shopping centres and restaurants, to the number of other British expats within the area included in the ranking.
The only question left is: which destination is the best for you?
Look Out Spain: The Top 5 Best Locations to Retire
- Lanzarote, Spain – Lanzarote takes the top spot as the best place to retire abroad. The easternmost Canary Island boasts beautiful beaches and national parks, a sunny climate (the only one in our top 5 that offers winter sun) and a low average property price (£245,572), a variety of entertainment with 350 activities to choose from.
- Tenerife, Spain – Ranking second only to Lanzarote, Tenerife is listed as the best destination for shopping with 28 shopping centres, while also offering an average property price of £435,294 and 4,404 restaurants to enjoy.
- Malaga, Spain – Located in the famous Costa Del Sol, Malaga ranks as the third best destination. With warming temperatures of 26.5°C in Summer, 152 museums and activities, and 1,754 restaurants, you’ll never be short of things to do.
- Alicante, Spain – Ranking as the second-largest Valencian city, Alicante comes in fourth due to low property cost (£435,172) and offers Gothic architecture, natural landmarks and sunny weather (29°C).
- Tuscany, Italy – A tourist favourite, Tuscany is home to sensational landscapes and filled with Italian traditions and culture. With 219 museums and activities to experience, and 2,114 restaurants to experience the local cuisine in, Tuscany ranks as the fifth best destination.
“Planning your retirement can often be a stressful task, one that requires a lot of research” said Joe Gardiner, TotallyMoney’s Head of Brand and Communications, “It’s important to consider all of the factors before making the move, but we aim to make this easier and alleviate some of the pressure when making such an important financial decision.”
For the full breakdown of the best locations to retire abroad, you can view the full 19 destinations here.