Discover why Portugal is a top-rated location to retire and move
You’ve worked hard your entire life and now it’s time to kick back, relax and retire in Portugal. Picture this: you’re sitting on a terrace, sipping on a glass of wine, with the sun setting over the Atlantic Ocean. Portugal, the westernmost country in Europe, is known for its warm weather, beautiful beaches, and delicious food. It’s also a top retirement destination for many people looking for a high quality of life at an affordable price. Below, we explore why Portugal is the perfect place for you to retire.
Cost of Living and Housing
If you’re thinking of retiring in Portugal, one of the first things you’ll want to consider is the cost of living. The good news is that Portugal is relatively affordable compared to many other Western European countries. According to Numbeo, a website that tracks the cost of living in cities around the world, the cost of living in Portugal is about 34% lower than in the United States. This means that you can enjoy a comfortable lifestyle in Portugal without breaking the bank.
Food
One of the biggest expenses for most retirees is food, but in Portugal, you’ll find that grocery prices are quite reasonable. A loaf of bread, for example, costs around €0.80, and a liter of milk costs about €0.60. If you prefer to eat out, you can expect to pay around €10 for a meal at an inexpensive restaurant.
Transportation
Getting around in Portugal is also quite affordable. The public transportation system is efficient and reliable, and you can get around most major cities by bus, train, or subway for just a few euros. If you prefer to drive, gas prices are also quite reasonable, with a liter of gas costing around €1.50.
Housing
Housing is another major expense for retirees, but in Portugal, you’ll find that housing costs are relatively affordable, especially outside of major cities. You can rent a one-bedroom apartment in Lisbon for around €700-€900 per month, while a two-bedroom apartment will cost you around €1,200-€1,500 per month. If you prefer to buy, you can find a two-bedroom apartment in Lisbon for around €200,000-€300,000.
Healthcare
One of the major concerns for retirees is healthcare, but in Portugal, you’ll find that the healthcare system is excellent. In fact, Portugal’s healthcare system is ranked as one of the best in the world. The country has both public and private healthcare options, with most doctors and medical professionals speaking English. The cost of healthcare in Portugal is also quite affordable, with many procedures costing much less than they would in the United States.
Taxation
Another benefit of retiring in Portugal is the country’s tax system. Portugal offers a Non-Habitual Resident (NHR) tax regime that can reduce tax liability for retirees. Under this regime, qualifying individuals can enjoy a flat tax rate of 20% on income earned in Portugal for a period of 10 years. This means that retirees can enjoy their retirement income without having to worry about high taxes.
Golden Visa Program
Portugal’s Golden Visa program offers a path to residency and citizenship for retirees. This program is aimed at attracting foreign investors to Portugal and offers a number of benefits, including visa-free travel throughout Europe. To qualify for the Golden Visa program, you’ll need to invest a minimum of €500,000 in Portuguese real estate.
Climate and Lifestyle
Portugal’s mild climate and outdoor lifestyle are major draws for retirees. The country enjoys more than 300 days of sunshine per year, making it an ideal destination for those who love spending time outdoors. Portugal also offers a wide range of cultural events, entertainment, and outdoor activities, from music festivals and art exhibitions to hiking, surfing, and golfing.
Language and Culture
If you’re concerned about the language barrier in Portugal, you’ll be happy to know that many Portuguese people speak English, especially in tourist areas. Portugal is also home to a large English-speaking expat community, which makes assimilation for English-speaking retirees quite easy. If you’re interested in learning Portuguese, there are also many language schools and classes available throughout the country.
Well, there you have it, folks! Portugal is a fantastic place to retire, and we’ve only just scratched the surface of why. From the affordable cost of living and housing to the world-renowned healthcare system, Portugal has a lot to offer retirees. And let’s not forget about the tax benefits, Golden Visa program, and beautiful climate and outdoor lifestyle. And if you’re worried about language and cultural barriers, fear not! Portugal has a thriving English-speaking community, and assimilation is relatively easy. So, what are you waiting for? Grab your sunscreen and come enjoy your golden years in one of the best retirement destinations in the world!
