Portugal stands out as the preferred European location for retirees
Annual Global Retirement Index Ranks Portugal Highly for Comfortable Living
The Annual Global Retirement Index, renowned for its comprehensiveness and practicality, evaluates a variety of factors, including housing, visas and benefits, cost of living, healthcare, and climate. According to this year's index, Portugal earns high marks due to its diversity of lifestyle options.
Reported monthly expenses for a couple, excluding rent, remain consistent across the country. Utilities such as electricity, gas, and water range from €80 to €150 ($87 to $163). A bundle of two cell phones and high-speed fibre internet costs around €65 ($70). Groceries are affordable, costing approximately €400 ($434) per month, including toiletries and household items. Private health insurance for two people is priced at €550 ($600) monthly, and gym memberships typically run around €75 per month. Car-related expenses, including gas and maintenance, can vary from zero to €50 ($54) depending on travel, while owning a car generally costs more than in the U.S., with gas approximately €6.80 per gallon ($7.39).
Healthcare in Portugal is highly ranked, offering both private and public systems. Private healthcare allows for personalized care with English-speaking doctors, while visits to private doctors cost as little as €16 ($17.40). Private insurance, priced at around €550 ($600) monthly, covers 80% of expenses. Expats can choose between a peaceful lifestyle in smaller villages or the vibrant atmosphere of cities like Lisbon and Porto, with activities ranging from coastal hikes to exploring medieval towns and enjoying Portuguese wine and cuisine.
Obtaining a resident visa, such as the D7, is crucial for long-term residency in Portugal. This visa requires proof of passive income of at least €870 per month, with income sources including pensions, rental income, dividends, transferable equity, or intellectual property. Additional family members necessitate an increased minimum balance, with 50% more for each spouse or family member over 18 years old and 30% more for each child under 18. Proof of accommodation, health insurance, a clean criminal record, and a Portuguese NIF (Tax Identification Number) are also required.
Daisy, originally from the UK, has lived and worked in Portugal for over 20 years. She has held positions in PR, marketing, and journalism and has been the editor of our website since 2019.
- The diverse lifestyle options in Portugal, including homes and gardens in serene villages or vibrant cities like Algarve, were major factors contributing to the country's high rank in this year's Annual Global Retirement Index.
- For those considering retirement in Portugal, monthly costs such as utilities, groceries, health insurance, and gym memberships provide an affordable lifestyle, with news of a couple's essential expenses totaling around €1660 ($1811) excluding rent and a car.
- Daisy, a British expat who has resided in Portugal for over two decades, shares her lifestyle experiences in the country, offering insights on topics ranging from news regarding the Algarve's home-and-garden scene to exploring the regions diverse culture, including its lifestyle and attractions.
