Greece has dethroned Portugal and Spain as the best place to retire in the world for 2026, claiming the top spot in International Living’s Annual Global Retirement Index for the first time in the ranking’s history.
The Mediterranean nation’s rise as a premier retirement destination reflects a significant shift in Europe’s retirement landscape, driven by affordable healthcare, low-cost coastal living, and one of the continent’s most accessible residency programs.
A New Era for European Retirement
“For years, Portugal and Spain led the way, but recent visa changes and rising costs have retirees looking elsewhere,” said Jennifer Stevens, executive editor of International Living. “Greece now offers what many are seeking—a beautiful, welcoming, and affordable European base with accessible residency options and a lifestyle that feels rich in every sense.”
International Living evaluated the top retirement destinations worldwide across categories including healthcare quality, housing affordability, climate, cost of living, and visa accessibility. Greece excelled in the combined scoring for healthcare, housing, and climate—the three factors retirees prioritize most, according to CNN‘s coverage.
Best Healthcare for Retirees
Private health insurance for couples in Greece costs as little as €250 (approximately $288) monthly while maintaining consistently high-quality care. Leena Horner, an OBGYN and International Living correspondent living in Greece, shared that her husband’s laser treatment for a retinal detachment cost just €250 ($290) total. “Treatment, follow-ups, everything,” she said. “In the U.S., that would have cost at least five thousand dollars.”
The World Health Organization’s assessment ranked Greece’s healthcare system 14th worldwide, surpassing both Germany and the United Kingdom.
Coastal Living on a Budget
Photo by SCStock from Getty Images
Housing costs remain remarkably affordable outside major tourist hubs. Beachfront rentals range from €600–€1,000 monthly ($690–$1,150), while American couple Patricia Mahan and Dan Matarazzo purchased a two-bedroom village house in Crete for $150,000 in 2023.
“We wanted to move by the sea in an affordable place,” Mahan told CNN, noting that proximity to state-of-the-art medical facilities and weekly farmers’ markets also influenced their decision.
Mediterranean Climate and Easy Residency
Among the many retirement benefits in Greece, the country’s hot summers and mild winters enable year-round outdoor living, contributing to a life expectancy of 82.9 years—well above the 79.2-year average in other European nations and the U.S.
The country’s Golden Visa program requires just €250,000 ($290,000) in real estate investment for residency—significantly lower than neighboring countries. Social Security Administration data from 2023 shows 13,251 Americans received retirement benefits in Greece, surpassing both Portugal and Spain.
International Living’s complete ranking of affordable countries to retire places Panama second, followed by Costa Rica, Portugal, Mexico, Italy, France, Spain, Thailand, and Malaysia.
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