For many, retiring abroad is a fantasy that’s becoming increasingly appealing due to the high cost of living in the UK, which can quickly eat into the £12.5k State pension. Fortunately, there are several European countries where your UK pension can go further.
Top European Countries for Retirement
Spain is a popular choice for retiring abroad, according to Jonny Christie, co-founder of The Property Buying Company. He notes that housing and the cost of living are cheaper in Spain, while still being well set up for people from the UK.
Jonny recommends areas such as Murcia, Alicante, and Almería, which offer good value, with properties available from around £130,000. This is less than half the current UK average house price of roughly £271,000.
Research by Hoxton Wealth in 2025 supports Spain as an ideal place to relocate, with a total score of 81/100. Spain scored highly in ‘travel connectivity’, with a score of 10/10, and cost of living and healthcare, both with scores of 9/10.
Other Attractive Options
Portugal is another country that Jonny recommends, although he advises retirees to be ‘selective’ when considering where to move due to the current housing crisis. Despite this, Hoxton Wealth’s research found Portugal to be more affordable and straightforward when it comes to purchasing a home.
Greece is another location that Jonny recommends for British retirees, aside from the considerably more expensive capital. ‘Greece can offer even more property for your money outside Athens and the best-known islands. Mainland Greece and some of the less tourist-driven islands can provide a much lower entry point into the property market, and that can make an enormous difference to somebody retiring on a fixed
Bulgaria is a convenient option, with a flight time of just over 3 hours from London to its capital, Sofia.
Considering the Options
When considering retiring abroad, it’s essential to think about what matters most to you. If your top priority is making your savings go further, you’ll need to weigh the pros and cons of each location.
Jonny Christie believes that Bulgaria is a location that is ‘overlooked’ when it comes to relocating, but this comes with both pros and cons. He explains that while property and rental costs can be substantially lower than in Western Europe, the trade-off is that it doesn’t have quite the same established British retirement infrastructure as Spain or Portugal.
They note that the decision of where to retire abroad depends on individual priorities and preferences. By considering factors such as cost of living, housing, and travel connectivity, you can make an informed decision and find the perfect location to enjoy your retirement, taking into account how colour can impact your wellbeing.
Ultimately, the choice is yours.
