According to a recent survey, around 38% Americans choose Europe as their retirement destination. There are several reasons behind this relocation: affordability, economic stability, and secure financial planning.
Considering these, retirement to Europe can be appealing to many with its rich history. However, Americans must be aware that deciding which country to retire in Europe can be exhausting. They need to compare the quality of life, the cost of living, health insurance benefits, visa options, crime rates, and even outdoor activities to spend their golden years.
Accordingly, this article will give you the 10 best places to retire in Europe with the easiest and most affordable options.
In This Guide You Will Find Out
How to Decide The Best Country For Retirees?
There are 44 countries in Europe; therefore, choosing which one to retire abroad as an American can be challenging. Nevertheless, there are some key aspects to consider before deciding on your new plan “B” destination.
1. English-Speaking Density
Although around 47% percent of the EU population knows English as their second language according to Eurobarometer, you may face difficulties as you move to rural areas.
This points out that you have to carefully consider both the country and the city you choose to retire in Europe.
At this stage, it is best to opt for tourist or expat-populated areas, which will streamline your transition and adaptation process. By joining them, you can reduce the likelihood of experiencing any culture shock or homesickness.
2. Affordable Cost of Living
According to NCOA’s data in 2024, nearly 50% of American retirees find it difficult to cover their basic life expenses. This increases financial insecurity levels since many depend on passive income, including their pension, rental properties, social security benefits, or savings.
With this awareness, US retirees look for the cheapest countries to retire in with affordable housing, healthcare, food, transportation, and low tax rates.
3. High Quality Healthcare
Comparing the quality and cost, only 19% of Americans state that they are satisfied with the healthcare system in the US, according to data from GALLUP. As retirees will feel the deficiency of this, they look for the best places to live outside the US with high-quality healthcare and affordable options.
On the other hand, many European countries offer public healthcare, along with affordable private healthcare systems.
4. Stable Economy
Although the US has a strong and diverse economy, the fluctuations can raise suspicion for many, and they might be right about it. For instance, the US Census Bureau states that consumer prices have risen 2.4% over the past year and food prices 2.9%.
Economic stability means greater security and less worry about the future. This directs many American expat retirees to move out of the USA and relocate to Europe for a more stable economy.
European Countries with Retirement Visas in 2025 for American Retirees
| European Countries with Retirement Visas in 2025 for American Retirees | |||||
|---|---|---|---|---|---|
| Country | Retirement Visa | Minimum Income Requirement | Family Inclusion | Duration of Visa | Route to Citizenship |
| Portugal | D7 Visa | €870 per month | Yes (Minimum increases per family member) | 1 Year | Yes (After 5 years of legal residency) |
| Spain | Non-Lucrative Visa | €2,400 per month | Yes (Minimum increases per family member) | 1 Year | Yes (After 10 years of legal residency) |
| Italy | Elective Residence Visa | €2,667 per month | Yes (Minimum increases per family member) | 1 Year | Yes (After 10 years of legal residency) |
| Greece | FIP (Financially Independent Person) | €3,500 per month | Yes (Minimum increases per family member) | 3 Years | Yes (After 7 years of legal residency) |
10 Best Places to Retire in Europe as an American
Now that we have looked at the key factors, it is time to answer this question: What are the best places to retire in Europe? Well, here we have gathered the top 10 retirement destinations.
1. Retiring in Portugal
- Quality of Life: 168.18 (High)
- Purchasing Power: 65.85 (Moderate)
- Safety: 67.59 (High)
- Health Care: 72.00 (High)
- Cost of Living: 47.62 (Low)
- Best places to retire in Portugal: Lisbon, Cascais, Porto, Algarve, Coimbra
Located in Southern Europe, Portugal ranks 5th among the safest countries in Europe. It offers American retirees a low cost of living and a high quality of life at the same time, making it an attractive retirement spot in the EU.
AIMA’s interim report in 2025 stated that around 15% of the population is currently foreign nationals. Reflecting this trend, the number of American investors increased by 162.5% in 2023 for the Portugal Golden Visa application. So, what’s so appealing to retirement communities about Portugal?
Initially, a family of four can compensate for their basic expenses with a monthly income of 2,416.3€, excluding the rent. Dining out remains affordable, with a meal for two typically costing between €30 and €60. Monthly pass tickets are €40, and basic utilities are around €80-€130.
Healthcare benefits are also another drawing factor. If you become a Portuguese resident, you will have access to the public healthcare system, with high quality and low costs. Besides, private health insurance is available and often preferred for shorter wait times.
The weather and nature also make it an attractive spot in the European Union. The country offers an active, outdoor-friendly lifestyle year-round. While retiring in Portugal, you can engage in activities such as hiking, golfing, sailing, and cycling as well as joining retirement communities.
Retirement Visa in Portugal: D7
As an American retiree, you can stay in Portugal for up to 90 days without a visa. However, if your stay exceeds 90 days, you need a temporary residency permit. For this, Portugal offers a D7 Visa, also called a Passive Income Visa. It is ideal for US retirees with stable income from pensions, social security, or investments.
To qualify for this visa, you need to show:
- A minimum income of €820 per month,
- A clean criminal record,
- Proof of residence in Portugal.
Another route is the Portugal Golden Visa, which provides residency through qualifying investment funds starting from €500,000. Both visa types allow family inclusion and offer permanent residency and even citizenship after five years*.
*This 5-year rule may be subject to change.
2. Retiring in Spain
- Quality of Life: 185.51 (High)
- Purchasing Power: 107.19 (High)
- Safety: 62.81 (High)
- Health Care: 77.23 (High)
- Cost of Living: 50.51(Low)
- Best Places to Retire in Spain: Valencia, Alicante, Málaga, Madrid, Seville
Located in Europe’s Iberian Peninsula, Spain is typically considered a safe country with its rich cultural history. That’s why it has become an attractive spot for American retirees. Around 8 million foreign-born people live in Spain, which equals 16.71% of the whole population. Among them, over 41,000 are American citizens who have chosen Spain for their next chapter.
If you plan to retire in Spain, you must be sure the cost of living is within your budget. On average, a family of four can cover their monthly expenses with around €2,552.30, excluding rent. Housing costs change from region to region. For instance, a three-bedroom apartment in a city is around €1,437.29.
You should also know that dining out is relatively inexpensive, with meals for two ranging between €35 and €80. Public transport is economical and efficient; a monthly ticket costs around €30. Basic utilities range from €80 to €218 per month, depending on the location and the usage.
The public healthcare system is another important thing to consider. If you become a legal resident, you can often access it after registering with the Social Security system or through private health insurance. When it comes to outdoor lifestyle and activities, the Mediterranean coast offers many privileges. You can hike the Pyrenees and wander around the historic city streets. Plus, Golf courses, beaches, wine regions, and national parks are all easily accessible.
Retirement Visa in Spain
Spain Non-Lucrative Visa is ideal for retirees with sufficient passive income (pensions, investments, etc.). It allows long-term residency without working in Spain. To qualify for this program, you need to show:
- A monthly income of €2,400
- Clean criminal record
- Private health insurance
You can also include your family members; however, you should know that you need to show an additional €600 for each dependent.
3. Retiring in Ireland
- Quality of Life: 167.9 (High)
- Purchasing Power: 118.70 (Very High)
- Safety: 51.38 (Moderate)
- Health Care: 51.48 (Moderate)
- Cost of Living: 69.30 (Moderate)
- Best Places to Retire in Ireland: Killarney, Dalkey, Galway, Cork
Ireland is an English-speaking country in Western Europe. It attracts retirees with its peaceful towns and green landscapes. It is a safe country, ranking 3rd in the World Population Review. Crime rates are low. Retirees can enjoy walking, golfing, and exploring natural beauty.
However, living costs can be expensive. A one-bedroom apartment in Dublin city center costs around €2,000 per month. Utilities range from €140 to €388. A meal for two at a restaurant is around €55 to €120. Consider moving to Ireland’s smaller towns are more affordable than big cities.
Ireland has both public and private healthcare. Nevertheless, you can opt for private health insurance. Public care is available but has long wait times. On the contrary, private care is faster and widely used by expats.
Retirement Visa in Ireland
To retire in Ireland, you need to apply for an Irish Retirement Visa. Here are the basic conditions you need to meet:
- You need at least €50,000 per year. For couples, a combined income of €100,000 per year is required.
- You must have private medical insurance
- You need proof of a clean criminal record.
4. Retiring in Greece
- Quality of Life: 139.35 (Moderate)
- Purchasing Power: 64.45 (Moderate)
- Safety: 53.63 (Moderate)
- Health Care: 58.54 (Moderate)
- Cost of Living: 53.13 (Low)
- Best Places to Retire in Greece: Rhodes, Thessaloniki, Crete, Athens, Corfu
Located in Southeastern Europe, Greece is considered safe for retirees. Petty crime can happen in tourist areas, but serious crime is rare. Therefore, while living in Greece, you can enjoy spending time outdoors, swimming, walking, and visiting local markets. Plus, there are also many islands and historic sites to explore.
For retirees, Greece is one of the more affordable countries in Europe. A family of four can cover basic monthly expenses with about €2,756.3, not including rent. A meal for two people costs around €35-€80. Basic utilities range from €120-311. A three-bedroom apartment in the city center costs around €781.44.
Plus, there is both public and private healthcare in Greece. At this point, you can use private health insurance for faster service. Medical care is generally affordable and of good quality, especially in big cities.
Greece Retirement Visa
While retiring in Greece, you will need a residence visa. Although there is no specific retirement visa in Greece, there are some alternative options, such as a Financially Independent Person (FIP) or Greece Golden Visa.
For an FIP Visa, you need to show an income of €2,500 per month, which increases 20% for a spouse and 15% for a child. On the other hand, the Greece Golden Visa will allow you to buy a property and get your residence permit. Here, the minimum amount of investment starts from €250,000, making it the only Golden Visa program in Europe that allows property investment.
5. Retiring in Cyprus
- Quality of Life: 159.66 (High)
- Purchasing Power: 88.80 (High)
- Safety: 67.33 (High)
- Health Care: 56.48 (Moderate)
- Cost of Living: 57.37 (Low)
- Best Places to Retire in Cyprus: Limassol, Paphos, Parekklisia, Pyrgos, Lania.
Located in the Eastern Mediterranean Sea, Cyprus is one of the safest countries in Europe. Crime rates are low. While retiring here, you can enjoy the beaches, warm weather, and a relaxed lifestyle. Additionally, if you enjoy outdoor activities like walking, swimming, and exploring local villages, they are available here and waiting for you to join.
Living costs in Cyprus are lower than in many Western European countries. A family of four can cover monthly expenses with around €3,092.7, excluding rent. A meal for two people costs around €45-100. Utilities range from €100-300. A three-bedroom apartment in the city center costs about €1,700.
Here, as an American, if you become a resident, you can benefit from public healthcare. Healthcare is typically affordable, and many doctors speak English. You can also use private healthcare, but make sure your private health insurance covers it.
Retirement Visa in Cyprus
There is no specific retirement visa in Cyprus. However, you can consider the Cyprus Golden Visa program. This is for those who invest in real estate or other approved assets starting from €300,000. It offers residency and a path to a long-term stay.
6. Retiring in Italy
- Quality of life: 153.06 (High)
- Purchasing Power: 93.11 (High)
- Safety: 52.78 (Moderate)
- Health Care: 64.86 (High)
- Cost of Living: 59.51 (Low)
- Best Places to Retire in Italy: Tuscany, Abruzzo, Puglia, Sicily, Lombardy, Lazio
According to the latest census data, around 15,000 Americans live in Italy currently. So, what makes it so appealing to them? Well, the country is generally safe. Crime rates are low outside big cities.
As a retiree, you can enjoy walking, maintaining a healthier lifestyle, shopping at local markets, and visiting historic sites. Plus, there are also beaches, mountains, and countryside for outdoor activities.
Living costs vary by region. Northern cities are more expensive, while southern towns are more affordable. A family of four spends about €2,500-3,000 per month, not including rent. A meal for two costs around €50-100. Utilities range from €130-300. A three-bedroom apartment in the city center is around €800-2,730.
On the other hand, it has an excellent healthcare system for those who choose to retire in Italy. Once you are a resident, you can register with the National Health Service. You can also choose private insurance for faster service.
Retirement Visa in Italy
There is a retirement visa in Italy called as Italian Elective Residence Visa. For this residence permit, you must demonstrate at least €31.000 per year, for couples €38.000 per year. Plus, if you want to include your children, it increases by 20% per child.
You can also consider applying for the Italian Golden Visa program with a minimum investment amount of €250,000. Under this program, you can get a residence permit for two years, which is extendable three times.
7. Retiring in Malta
- Quality of Life: 134.97 (Moderate)
- Purchasing Power: 83.65 (Moderate)
- Safety: 57.07 (Moderate)
- Health Care: 52.78 (Moderate)
- Cost of Living: 55.35 (Low)
- Best Places to Retire in Malta: Valletta, Sliema, St. Julian’s, Mellieha.
Malta is a small island country in the Mediterranean. It has a warm climate, English is widely spoken, and healthcare is good. That’s why many retirees choose Malta for its lifestyle and safety.
Plus, the country is more affordable than many Western European countries. A family of four needs about €2,820.1 per month, excluding rent. A meal for two costs around €70. Utilities range from €60-150. A three-bedroom apartment in the city center costs about €1,640.48.
Like many European countries, Malta also offers public and private healthcare. Once you become a legal resident here, you can access public services at a low cost. At the same time, you can go for private healthcare too.
Retirement Visa in Malta
Malta does not have a specific retirement visa. Retirees can apply through the Malta Permanent Residence Programme (MPRP) by making a qualifying investment, starting from €600,000.
However, according to the European Court of Justice’s explanations on April 29, 2025, the program violates EU law and must be ceased. Therefore, applications are no longer accepted, and you need to consider other residency options.
8. Retiring in Hungary
- Quality of Life: 145.65 (High)
- Purchasing Power: 78.36 (Moderate)
- Safety: 66.25 (High)
- Health Care: 54.09 (Moderate)
- Cost of Living: 44.15 (Low)
- Best Places to Retire in Hungary: Budapest, Sporon, Győr, Heviz, Szeged.
Hungary is a country located in Central Europe. It offers a rich culture, low living costs, good healthcare, and a mix of city and countryside life. Budapest, the capital, is popular among expats and retirees.
Besides, it is generally safe. Most areas have low crime rates. Here, you can benefit from thermal baths, local markets, and walks along the Danube. There are also lakes, hills, and historic towns to explore.
Affordability also matters. A family of four can live on 2,273.7€ per month, excluding rent. A meal for two people costs around €30-75. Utilities range from €90-195. A three-bedroom apartment in the city center costs around €1,009.62. Plus, healthcare costs are also low. There are public and private services. In big cities like Budapest, doctors speak English mostly.
Retirement Visa in Hungary
There is no specific retirement visa in Hungary. Retirees can apply for the Hungarian Golden Visa program by making a qualifying investment. Currently, there are two available options:
- €250,000: Real Estate Investment Fund
- €1 million: Non-refundable Public Trust Donation
You can include your family members too. Once issued, your residence permit will be valid for 10 years.
9. Retiring in Finland
- Quality of Life: 206.27 (High)
- Purchasing Power: 83.65 (Moderate)
- Safety: 57.07 (Moderate)
- Health Care: 52.78 (Moderate)
- Cost of Living: 55.35 (Low)
- Best Places to Retire in Finland: Helsinki, Tampere, Turku, Jyväskylä, Kuopio
Finland is a Nordic country known for its sublime nature, safety, and high standard of living. It offers a calm and organized lifestyle. English is widely spoken, especially in cities. It is one of the safest countries in the world. Crime rates are very low.
The US retirees can join outdoor activities like walking, fishing, and visiting lakes and forests. However, keep in mind that Finland is more expensive than most parts of Europe. A family of four needs about €3,439.6 per month, not including rent. A meal for two costs around €55-120. Utilities range from €127. A three-bedroom apartment in the city center costs about €1,500-2,000.
On the other hand, the country has a strong public healthcare system. Residents have access to low-cost services. However, as a non-EU citizen, you will usually need private insurance until you qualify for public care.
Retirement Visa in Finland
Finland does not offer a special retirement visa. You can apply for a residence permit based on sufficient income or other grounds. You need to show that you can support yourself without working and have health insurance.
10. Retiring in Latvia
- Quality of Life: 167.05 (High)
- Purchasing Power: 81.11 (Moderate)
- Safety: 63.46 (High)
- Health Care: 62.99 (High)
- Cost of Living: 50.94 (Low)
- Best Places to Retire: Riga, Jūrmala, Cēsis, Kuldīga
Latvia is a small country in Northern Europe, located on the Baltic Sea. It offers low living costs, peaceful towns, and easy access to nature. Riga, the capital, is popular among expats.
The country is generally safe and quiet. Crime rates are low. Retirees enjoy walking in parks, exploring the countryside, and visiting the coast.
When it comes to the cost of living, Latvia is one of the most affordable countries in the EU. A family of four can live on €2,727.5 per month, excluding rent. A meal for two people costs around €35-100. Utilities are about €263. A three-bedroom apartment in the city center costs about €802.44.
At the same time, you can benefit from its public healthcare system. It is affordable and available in many towns and cities. However, you will probably need private insurance, especially when first arriving.
Retirement Visa in Latvia
Latvia does not have a specific visa for retirees. You can apply for a residence permit based on sufficient income. For instance, you can opt for the Latvian Golden Visa with a minimum investment threshold of €50,000. The program allows you to include your family members, travel freely in the Schengen Area, and have fast processing times.
Once you complete the application process successfully, you will receive a 5-year residence permit.
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Frequently Asked Questions on Retiring in Europe as an American
Which countries do not tax our social security benefits?
The following countries do not tax your social security benefits thanks to the income tax treaties with the US:
- Canada
- Egypt
- Germany
- Ireland
- Israel
- Italy
- Japan
- Romania
- The United Kingdom
Some countries, like Portugal, have favorable tax treaties or rules that may exempt or reduce tax on foreign social security income. It’s important to check the specific agreements between your home country and the country you plan to retire.
What are the best places to retire in Europe for English speakers?
Portugal and Spain are top choices due to their large expat communities, widespread English use, and retiree-friendly services.
Where do the happiest retirees live in Europe?
Switzerland often ranks highest for retiree happiness because of its quality healthcare, safety, and overall standard of living.
What are the best places to retire in Europe on a budget?
The most affordable places to retire in Europe are countries like Portugal, Malta, and Greece. They offer affordable living costs while maintaining a good quality of life. That’s why they have become a popular budget-friendly retirement option.
