Portugal was recently named as the best place to retire in 2023 by International Living. The survey ranked countries on an index that considered healthcare, governance, climate, cost of living and much more.
Portugal came out on top, scoring much higher than its European neighbours France (8th) and Spain (6th).
Portugal: the best place to retire
Browse homes in the Algarve
Well, International Living reports that Portugal’s safety had a lot to do with it. In fact, the country ranks 6th on the Global Peace Index.
Even in major Portuguese cities, violent crime is extremely low and many say they feel safe when out and about, even at night.
It’s not the first time Portugal has been cited as a retirement hotspot either. The same survey scored Portugal 4th the year previously, but this year took the title.
Cost of living in Portugal
Depending on where you live, as all countries have their pricey areas, Portugal can offer a lower cost of living that the US and other European countries.
Could you retire to Lisbon?
According to Your Overseas Home’s annual cost of living index, Portugal is ranked 3rd least expensive out of the 8 countries surveyed.
To help you get a good idea of what life in Portugal costs, a couple can live comfortably on €2,500 per month. Expect it to cost another €500 euros for Lisbon, Porto and the Algarve.
The largest expense you’ll find in Portugal is housing as there’s a huge demand from both residents and international buyers. Long-term rents are quite hard to find in popular areas like the Algarve, so it usually works out more cost effective to buy straight out.
According to National Statistics Portugal, the average house costs €1,500 per m2. The most expensive areas are coastal and include the Algarve, Lisbon, Madeira, Porto and Alentejo Litoral. The least expensive areas include Alto Alentejo, Beiras e S.Estrela and Beira Balxa – all found inland.
Food
Modern homes in Portugal, the best place to retire 2023
Portugal has a hearty assortment of dishes that are extremely cheap to prepare. Food is inexpensive in comparison to the UK. Even out and about a cappuccino won’t cost you more than €1, compared to €3.50 in the UK.
There are many grocery stores in Portugal with Continente being the largest chain. You’ll also find popular stores such as Lidl, Aldi, Inter Marche and Spar.
Portugal lives off a typical Mediterranean diet which is abundant with fresh fish, olive oil, fresh bread and locally grown fruit and vegetables. If you’re a fan of the Mediterranean diet, Portugal is the best place to retire!
Transportation
Browse homes in the Algarve today
Portugal has three international airports, Lisbon (LIS), Faro (FAO) and Porto (OPO). From each of these airports one can catch regular flights to most of mainland Europe. The largest airport is Lisbon, which is one of the busiest in Southern Europe. It’s a gateway to Portugal and receives flights to and from the US.
Public transport within Portugal is pretty reliable, especially in cities like Lisbon and Porto. The highways in Portugal are easy to navigate and, unlike in other European countries, you don’t need to take a second test in order to drive in Portugal. You can just exchange your current license for a Portuguese one.
Keeping fit in Portugal
If you plan to be active, Portugal is best place to retire. It’s an excellent destination for golfers too. Portugal is home to some of Europe’s best courses – many of which are of championship standard. The Algarve alone is home to 43 courses and attracts buyers from all over the world. There are several properties available on golf course resorts, which combine the national pastime with social opportunities – plus, you don’t have to worry about home upkeep, as maintenance is covered by resort staff.
There’s also ample opportunity to try water sports in Portugal. Along the Atlantic coast fishing and sailing are popular, while on the south coast you’ll find more choice. Other sports include windsurfing, water skiing, and jet skiing.
Where to buy
Take a look at properties in Silves, Algarve
For those looking for the best place to retire in terms of sun and proximity to the beach, the obvious choice is the Algarve. There you can find a villa – with or without a pool – and easy access to sun, sea and sand.
West Algarve is the epicentre of the south coast. There you have a choice of vibrant Lagos, a working town all year round, that settles down in winter. Silves is a little further inland than Lagos, but still just a bus away from the sea.
Faro is the capital of the Algarve, home to the airport too – perfect for holiday home buyers. The city centre is a small tourist-friendly marina with many bars, restaurants and stalls. It’s busy year-round and hosts festivals and fairs throughout the year. Outside the old town, towards the airport you’ll find popular brand-named stores, and the Forum Algarve mall. This part of Faro is popular among all in the Algarve.
Browse properties in Albufeira today
Albufeira is in the central Algarve and is a thriving community of Portuguese residents and expats combined. Visitors have been coming to Albufeira since the early 1960s so it has a really vibrant culture, with lots of different food options in local restaurants. It has two main (stunning) beaches and enjoys 300 days of sunshine a year. Homes in Albufeira vary between beachfront apartments, modern duplexes and traditional homes in the old town area.
Then of course, for city lovers who enjoy the fast-paced lifestyle that comes with a cosmopolitan town, you have the choice of Lisbon and Porto. Lisbon is typically busier and more expensive but has excellent transport links throughout Portugal. Porto is further north, not far from the countryside and has its own fishing port on the east coast.
