When we imagine our retirement many of us picture sun, sea and days spent lounging around in our swimwear. But how much does that dream lifestyle really cost?
Experts suggest a retiring couple would need a £1 million to live comfortably - and that’s assuming you’ve paid off your mortgage and any debts accumulated over the years on top.
We put that retirement fund to the test, by comparing a basic cost of living to a luxury lifestyle in the top 15 expat destinations in Europe, to find out where your money will last the longest.
Assuming you purchase a 90sqm apartment just outside of the city centre at the start of your retirement, this is how much you’d have left…
UNITED KINGDOM
Avg. house price£247,384
| Basic | Luxury |
|---|---|
| Cost of living: £26,000 per year |
Cost of Living: £39,000 per year |
| £1m would last: 29 YEARS |
£1m would last: 19 YEARS |
AUSTRIA
Avg. house price£248,696
| Basic | Luxury |
|---|---|
| Cost of living: £23,700 per year |
Cost of Living: £35,650 per year |
| £1m would last: 32 YEARS |
£1m would last: 21 YEARS |
BELGIUM
Avg. house price£191,847
| Basic | Luxury |
|---|---|
| Cost of living: £23,189 per year |
Cost of Living: £34,783 per year |
| £1m would last: 35 YEARS |
£1m would last: 23 YEARS |
DENMARK
Avg. house price£237,167
| Basic | Luxury |
|---|---|
| Cost of living: £30,038 per year |
Cost of Living: £45,057 per year |
| £1m would last: 25 YEARS |
£1m would last: 17 YEARS |
FRANCE
Avg. house price£290,504
| Basic | Luxury |
|---|---|
| Cost of living: £25,334 per year |
Cost of Living: £38,001 per year |
| £1m would last: 28 YEARS |
£1m would last: 19 YEARS |
GERMANY
Avg. house price£255,121
| Basic | Luxury |
|---|---|
| Cost of living: £25,323 per year |
Cost of Living: £38,001 per year |
| £1m would last: 29 YEARS |
£1m would last: 20 YEARS |
GREECE
Avg. house price£99,190
| Basic | Luxury |
|---|---|
| Cost of living: £18,733 per year |
Cost of Living: £28,099 per year |
| £1m would last: 48 YEARS |
£1m would last: 32 YEARS |
IRELAND
Avg. house price£208,204
| Basic | Luxury |
|---|---|
| Cost of living: £27,439 per year |
Cost of Living: £41,158 per year |
| £1m would last: 29 YEARS |
£1m would last: 19 YEARS |
ITALY
Avg. house price£162,127
| Basic | Luxury |
|---|---|
| Cost of living: £21,749 per year |
Cost of Living: £32,624 per year |
| £1m would last: 39 YEARS |
£1m would last: 26 YEARS |
MALTA
Avg. house price£135,698
| Basic | Luxury |
|---|---|
| Cost of living: £21,456 per year |
Cost of Living: £32,184 per year |
| £1m would last: 40 YEARS |
£1m would last: 27 YEARS |
NETHERLANDS
Avg. house price£208,645
| Basic | Luxury |
|---|---|
| Cost of living: £26,902 per year |
Cost of Living: £40,353 per year |
| £1m would last: 29 YEARS |
£1m would last: 20 YEARS |
POLAND
Avg. house price£102,063
| Basic | Luxury |
|---|---|
| Cost of living: £14,128 per year |
Cost of Living: £21,192 per year |
| £1m would last: 64 YEARS |
£1m would last: 42 YEARS |
PORTUGAL
Avg. house price£122,078
| Basic | Luxury |
|---|---|
| Cost of living: £18,430 per year |
Cost of Living: £27,645 per year |
| £1m would last: 48 YEARS |
£1m would last: 32 YEARS |
SPAIN
Avg. house price£142,037
| Basic | Luxury |
|---|---|
| Cost of living: £19,900 per year |
Cost of Living: £29,849 per year |
| £1m would last: 43 YEARS |
£1m would last: 29 YEARS |
SWEDEN
Avg. house price£246,090
| Basic | Luxury |
|---|---|
| Cost of living: £25,087 per year |
Cost of Living: £37,630 per year |
| £1m would last: 30 YEARS |
£1m would last: 20 YEARS |
Whether you’ve got plans to retire abroad and soak up some sunny rays or explore Europe’s vast open landscapes our Holiday Shop has all the essentials you need to build a new wardrobe. From swimwear to dresses, cotton classics to accessories we have all the staples for your suitcase.
