The southern European country best known for its picturesque islands has now gained a new audience: retirees. Portugal, which for years led preferences, lost first place in the ranking of ideal destinations for those who decide to retire outside the country. According to CNN, which analyzed International Living’s 2026 Global Retirement Index, Greece is now the number one destination, standing out for its balance between climate, cost of living, healthcare and ease of integration.
Change in the European panorama
Changes to visa programs and the rising cost of living in Portugal and Spain have led many retirees to look for more affordable alternatives. Greece appears as a solution, offering affordable housing, a Mediterranean climate and quality healthcare services.
The Greek Golden Visa allows permanent residence through a minimum real estate investment of 250 thousand euros, making the country particularly attractive for those who want to settle in a sunny European destination without excessive costs.
Concrete examples
Patricia Mahan and Dan Matarazzo, two Americans, bought a two-bedroom house in 2023 in the village of Kritsa, Crete, for around 150 thousand dollars. They wanted to live close to the sea and in a village environment, but without giving up essential services such as modern hospitals, nearby airports and local markets.
Cases like theirs illustrate the growing demand for quality of life outside of the most expensive large urban centers, combining comfort and security.
Portugal maintains strong points
Although Portugal continues to be positioned in categories such as healthcare, behind only France, and climate, considered attractive for retirees.
However, the end of the Golden Visa for housing and the rising cost of living in areas such as Lisbon, Porto and Algarve have diminished the country’s appeal.
The D7 visa, aimed at those with stable passive income, remains available and is considered suitable for many retirees, but it does not regain the same notoriety as before.
Other featured destinations
The 2026 Global Reform Index also includes countries such as Panama, Costa Rica, Mexico, Italy, France, Spain, Thailand and Malaysia, each with specific advantages.
Panama stands out for its tax benefits and discounts for retirees, Costa Rica for its areas of longevity and mild climate, and Mexico for its low cost of living and modern infrastructure. Asian countries, such as Thailand and Malaysia, continue to attract due to their tropical climate and low cost.
According to , choosing a country to retire combines practical factors, such as access to healthcare and housing, with emotional issues, including a sense of security and cultural affinity.
Greece, with its Mediterranean landscapes, affordable prices and attractive residency programs, has emerged as the new favorite for those looking to reinvent life after their professional career, relegating Portugal to a lower place in the global ranking of destinations for retirees.
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