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The Rise of Retirement Havens: Why Greece is Now the Top Choice for Expats
Dreaming of trading rainy days and rising costs for sunshine and a more affordable lifestyle? You’re not alone. More and more people are considering relocating for retirement and a new report reveals a surprising frontrunner: Greece. After years of Costa Rica holding the top spot, the Mediterranean nation has climbed to number one in International Living’s Annual Global Retirement Index 2026.
Why Greece? A Perfect Storm of Benefits
Greece’s ascent isn’t accidental. The country offers a compelling combination of financial advantages, lifestyle appeal, and accessibility for European Union citizens. For Dutch pensioners, a particularly attractive benefit is the Non-Dom regime, allowing them to pay just 7% tax on their pension income – a significant saving compared to rates that can reach 49.5% in the Netherlands. This regime applies to both AOW, life pensions, and company pensions.
But it’s not just about taxes. Greece boasts a mild climate, a lower cost of living, and a relaxed pace of life. A couple can comfortably live on between €2,900 and €3,000 per month, with a two-bedroom apartment renting for around €600. Dinner for two, including wine, typically costs between €30 and €50.
Healthcare is another draw, with affordable private insurance options available – around €250 per month for two people.
The Top 3: A Closer Look
- Greece: The new champion, offering a low tax rate, affordable living, and a desirable Mediterranean lifestyle.
- Panama: Known for its Pensionado program, providing discounts on various expenses. A ‘jet-setter lifestyle’ is possible from $2,900 per month.
- Costa Rica: The former leader, still a popular choice with its ‘pura vida’ lifestyle and low property taxes (0.25% of the purchase price).
Europe’s Growing Appeal
The International Living index reveals a broader trend: Europe is becoming increasingly attractive to retirees. Five European countries now feature in the top 10, including Portugal, Italy, France, and Spain. Italy, in particular, has made a significant jump in the rankings.
What Factors Drive These Rankings?
International Living’s index considers seven key categories: housing, visas and benefits, cost of living, healthcare, climate, infrastructure, and an ‘affinitey value’ – essentially, how desirable a location is to live in. The rankings are based on decades of data and feedback from expats around the world.
Navigating Your Pension Abroad: Important Considerations
If you’re considering moving your pension, it’s crucial to contact your Dutch pension institution to understand the conditions, and possibilities. Pension transfers to other EU countries may be possible if you meet certain requirements, while transfers outside the EU require approval from De Nederlandsche Bank.
Remember, for those with government pensions, the Netherlands generally retains the right to tax those pensions.
Frequently Asked Questions
- What is the Non-Dom regime in Greece? It’s a tax regime allowing foreign residents to pay only 7% tax on their pension income.
- Is it straightforward to move to Greece as an EU citizen? Yes, as an EU citizen, you can live in Greece without a visa.
- What is the cost of living like in Greece? Generally lower than in many Western European countries, with affordable housing and dining options.
- Can I transfer my Dutch pension to another country? It depends on your individual circumstances and requires approval from your pension institution and potentially De Nederlandsche Bank.
Ready to explore your options? Share your thoughts in the comments below, and be sure to check out our other articles on financial planning and early retirement!
