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For a lot of Canadians, retiring in Europe feels like the ultimate dream. Picture this: Sipping an espresso at a little café on a cobblestone street, soaking up that Mediterranean sunshine and wondering why you ever put up with Canadian winters for so long.

If you've spent most of your adult life in an office cubicle, don't worry, no one's judging you for daydreaming about a retirement filled with good food, great weather and a whole lot of culture.

The best part? That dream doesn't have to stay a fantasy. Retiring in Europe is actually more accessible than you might think. Whether you're drawn to the beaches of Portugal, the vineyards of France or some cozy little town in Italy that looks like it's straight out of a movie, there's a European retirement spot for everyone.

So if you're planning to spend your golden years under the golden European sun, this guide's for you. We'll break down the best places to retire in Europe based on quality of life, affordability and what'll make those retirement years truly the best of your life.

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Methodology

You might be wondering how we came up with this list of the best places to retire in Europe. To find those dream retirement destinations across the pond, we took several factors into account, especially things that would be relevant to Canadians.

• Cost of living: Going somewhere for vacation is one thing, but living there is another thing altogether. We looked at how affordable daily life, housing and healthcare are compared to costs in Canada.
• Residency options: The availability of retirement visas or long stay permits for Canadian citizens in European countries.
• Healthcare access: Healthcare access is a major issue for retirees. We cover which European countries have private vs public healthcare access, especially for foreign residents.
• Language: How easy it is for English or French speakers to communicate with the locals.
• Lifestyle: Climate, safety, community and amenities are just some of the things we consider for the quality of lifestyle in Europe for Canadians.

With these criteria in mind, it's time to get to our choices for the best places to retire in Europe for Canadian retirees.

1. Portugal

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Why it's great for retirees:

Portugal is a country that has consistently ranked among the world's top retirement destinations. If you've ever been there, you can understand why.

The weather is beautiful year-round, with plenty of scenic beaches where you can soak in those rays. Most people think of cities like Lisbon or Porto, but heading south into the Algarve region will take you to Portugal's golden beaches with plenty of world-class golf resorts, and a strong community of expats who now call the country home.

I personally lived in Portugal for four months back in 2023, spreading my time out around Lisbon, Porto and the Algarve (Faro specifically), and I have to say, while Porto and Lisbon are amazing in their own rights, the Algarve area just hits differently from a quality of living perspective.

Not to mention, Portugal is really easy on the wallet, which can be a blessing for those living on a pension in retirement. Food and the cost of living are cheap compared to the rest of Europe and even Canada. The country also yields some of the freshest seafood in the world for a fraction of the price of other European destinations.

Cost of living: On average, Portugal is about 30% cheaper than most major Canadian cities, particularly Toronto and Vancouver.

Language tip: English is widely spoken in Portugal. In fact, English is taught at Portuguese schools starting in the first grade.

Visa options: If you are considering Portugal, check out the D7 Visa. This allows non-EU residents to retire in Portugal if they have no criminal record and proof of a passive income of at least €870 (C$1,400) per month.

2. Spain

Sina Ettmer Photography | Shutterstock

Why it's great for retirees:

Portugal's closest neighbour offers the same sunny climate with a relaxed pace and a unique cultural experience. Spain is one of the most popular destinations in Europe for Canadians to visit and eventually, retire in.

From global cities like Barcelona and Madrid to coastal regions like Costa del Sol, Spain has a lot to offer. World-class food, tapas and all at a discounted price that is slightly pricier than Portugal but much cheaper than most other places in Europe.

Another factor in Spain's favour is its highly rated healthcare system, ranked among the best in the world. Spain boasts both a high-end public healthcare system and a private system for those willing to pay for their medical services.

Cost of living: Rent and groceries are roughly 25 to 35% cheaper than in Canada.

Healthcare: Spain's public healthcare system ranks among the best globally, and private coverage is affordable for those willing to pay.

Visa options: Spain's Non-Lucrative Visa is ideal for Canadians who can show sufficient retirement income or savings.

3. France

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Why it's great for retirees:

Few people have ever been to France and not fallen in love with the country. Paris is picturesque, with some of the most beautiful architecture in the world. Outside of Paris, France is filled with a romantic countryside, world-class wine and some of the best food in Europe.

If you want a slower pace of life, France has plenty of smaller, charming towns, such as those in Provence or Occitanie. Throw in a world-class healthcare system that is affordable and accessible, and France begins to look like a retiree's dream come true.

Perhaps the one thing holding France back from being ranked as high as Spain or Portugal is the cost of living, especially in the big cities like Paris. You can tell where you are in France by the price of the croissants!

Cost of living: This can vary. You should expect higher prices in cities, but affordable living in rural regions.

Bonus: The French healthcare system is often rated among the best in the world and is both affordable and accessible for locals and expats alike.

Language: It definitely helps to have a basic understanding of French. English is more accepted in larger cities like Paris.

4. Ireland

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Why it's great for retirees:

Bet you didn't expect to see Ireland so high up on this list of the best places to retire in Europe! There is a large percentage of Canadians who have Irish heritage, and a decent number of them are more than happy to call their Motherland home in retirement.

The people are warm and friendly, and you're never too far from a cozy pub or taking a stroll across the rolling green hills. There is plenty to do in Ireland if you love nature or if you just want to curl up with a nice pint of Guinness with some friends.

Language: No language barrier for English-speaking Canadians! Of course, the Irish accent may take some getting used to.

Healthcare: Ireland offers a mix of public and private healthcare options, without any language barrier.

Cost of living: Higher than in southern Europe, but offset by familiarity and ease of integration into a welcoming society.

5. Greece

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Why it's great for retirees:

Another affordable European country with incredible weather and a stunning, unique culture. Greece is a dream vacation destination for a reason, and it shouldn't come as a surprise that many Canadians are choosing this Mediterranean island as their retirement home.

Greece has one of the lowest costs of living in Europe and is much different than visiting on a vacation or Mediterranean cruise. Whether you want the big city vibes of Athens, the culture of Crete or the iconic and picturesque Santorini, being in Greece will always make you feel like you're in the scenic set of a Hollywood movie.

Cost of living: Rent is generally about 40 to 50% lower than in major Canadian cities, making it one of the cheapest places in Europe to live.

Visa: Greece itself does not have a retirement visa for foreigners, but Canadians can qualify for the Financially Independent Person (FIP) visa if they are looking to retire there.

Language: As with most European countries, English is understood in major cities like Athens, but there could be some barriers in rural areas or smaller towns.

6. Malta

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Why it's great for retirees:

Malta may not be as well-known as France or Spain, but anyone who has been there can tell you that it is a retiree's dream. Located in the heart of the Mediterranean Sea, Malta is a sun-soaked island that sits between Italy and North Africa.

What makes Malta an exceptional place to retire? Malta is one of the European islands that Europeans themselves travel to on their vacations. The summers are hot and the beaches are breathtaking, and the island is so small and tucked away in the Mediterranean that you can enjoy a peaceful retirement amongst the locals

Visa options: The Malta Retirement Programme allows non-residents to move to the island for retirement. You will need to show proof of pension or income, as well as being normally domiciled outside of the country.

Lifestyle: Malta is a small, close-knit island. While there is a lot of tourism, you can enjoy a peaceful and quiet life there.

Language: Malta is one of the most multilingual countries in the European Union. While nearly all residents speak Maltese, a vast majority also speak English, making it an ideal place for Canadian retirees.

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7. Italy

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Why it's great for retirees:

Italy is a country that truly needs no introduction. Whether it is wandering the streets of Rome, drifting down the canals of Venice, or soaking in the rays of the Tuscan sun, there is no other place in the world like Italy.

Come for the world-class food, stay for the culture of art and leisure. Retirees from anywhere in the world will love Italy's unique lifestyle, especially in smaller towns like Sicily or Umbria. Not only can you get the same authentic Italian experience, but you can live there for a fraction of the cost of major Canadian cities.

Visa options: The Elective Residency Visa in Italy isn't exactly a retirement visa, but it allows non-residents to live there if they have a stable passive income of more than €32,000 (C$52,000) from pensions or other assets.

Healthcare: Italy's universal healthcare system is of high quality and easily accessible for anyone residing there.

Language: This might be one barrier, especially in smaller Italian towns. The main language is Italian, and locals are fiercely proud of it. More English is understood in tourist centers like Rome, but most of the country will have varying degrees of proficiency.

8. Croatia

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Why it's great for retirees:

Croatia was once a hidden gem, tucked away on the coast of the Adriatic Sea. Now, coastal cities like Split or Dubrovnik are popular travel spots, providing one of the most beautiful and scenic sides of Europe.

Crystal blue waters, delicious food, and all at some of the cheapest prices in Europe. Not only that, but Croatia borders some other popular destinations like Serbia and Montenegro, giving you access to the entire Baltic region at your fingertips.

Croatia is so stunning and picturesque that it has been used as a film location for things like Game of Thrones, Mission Impossible and Succession.

Cost of living: Croatia is very easy on the wallet, as living costs are roughly 40% cheaper than in Western Europe.

Healthcare: Croatia has an excellent healthcare system, even for non-residents or expats.

Visa: The closest thing to a visa in Croatia would be the temporary residence permit, although it is not necessarily specific to retirees.

9. Cyprus

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Why it's great for retirees:

Like Malta, Cyprus is probably not the first destination Canadians think about when planning their retirement. Cyprus is another island located in the Mediterranean Sea that gets plenty of sunshine with a strong expat presence from countries around the world.

Do you love long summers, low taxes, and a delicious Mediterranean diet of grilled meats and seafood? Then, Cyprus may just be the retirement destination you never knew you needed. Cyprus is safe, friendly, and has some great small towns, including Paphos, which is full of ancient ruins and is believed to be the birthplace of the goddess Aphrodite.

Climate: Long summers with plenty of heat for those looking to escape the Canadian winters.

Language: English is widely spoken in Cyprus, so there are no language barriers for Canadian retirees.

Visa: Qualifying for a Category F Visa in Cyprus will allow you to live there in retirement, as long as you can provide proof of an annual income of €9,568 or approximately $16,000 in Canadian dollars.

10. Austria

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Why it's great for retirees:

Austria often doesn't receive the reputation of being a great vacation destination. It's overshadowed by some of its neighbours, like Germany or Italy. But Austria offers a tonne of rich history in a beautiful, clean and safe setting.

Even Austria's largest cities, like Vienna, move at a slower pace and are perfect for retirees who want to experience the less flashy side of Europe. Austria even has the natural beauty that most don't hear about. Mountains with plenty of world-class ski resorts and lakes to relax by in the summer.

Cost of living: Surprisingly, Austria is very affordable, with living costs about 25% below the Canadian average in major cities. Keep in mind the conversion to the Euro, though.

Healthcare: A very highly regarded system that uses a universal social insurance model. It's affordable and easily accessible for all residents in Austria.

Language: Not to worry. Although Austrian is the primary language in Austria, English is well-understood, and most residents have a fairly high proficiency.

11. Slovenia

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Why it's great for retirees:

Another hidden gem from the Balkans, Slovenia is one of the smallest countries in the EU with an estimated population of just over 2 million people.

Despite being about the size of the State of Maryland, Slovenia has a very diverse topography. It's a mountainous country with both the European Alps and the Dinaric Alps crossing through. On the other side of Slovenia is the Mediterranean Coast

Cost of living: Up to 40% lower than in Canada.

Healthcare: High-quality system accessible to residents.

Bonus: Strong expat network, with many locals fluent in English.

12. Germany

f11photo | Shutterstock

Why it's great for retirees:

Germany is the last country on our list, but it certainly isn't ranked by significance. This is the most powerful economy in the European Union, with excellent infrastructure, world-class healthcare and an incredibly diverse culture.

For retirees seeking the most stable society to join, Germany is the clear choice among European countries. Whether you prefer major global cities like Berlin or Munich, or smaller towns like Freiburg or Heidelberg, Germany has surprising charm, while everything runs with German efficiency and practicality.

Healthcare: Among the best globally, truly a world-class healthcare system for all German residents.

Language: English is widely spoken, especially in larger cities.

Cost of living: Moderate, depending on the city. Larger cities are more expensive but still cheaper than most cities in Western Europe.

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FAQs Where is the safest and cheapest place to retire in Europe?

Of the locations on our list, Portugal and Slovenia are the safest and cheapest countries to retire in Europe. Both countries offer an affordable cost of living, great healthcare systems, and plenty of English for Canadian retirees.

Which European country has the best retirement?

Overall, Portugal still offers the top overall retirement experience for Canadians. The country offers affordability, great weather all year long, excellent food, and good healthcare.

What is the easiest country for Canadian retirees to move to?

Portugal and Spain have the most straightforward visa processes for foreigners seeking retirement status. Both countries make it easy for retirees to enter their society and become residents, as long as they show proof of income or savings.

This article originally appeared on Money under the title: Best places to retire in Europe

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

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