5 Countries Where Retirees Most Want To Purchase Property

There are numerous reasons why a retiree would want to purchase a home abroad. Ronan McMahon’s latest Real Estate Trend Alert found that the top reasons retirees purchase homes in another country are to relocate permanently, to have a second home for when they visit, or as a source of rental income.

The survey also asked retirees where they most want to purchase homes, and these five countries were the top picks.

Portugal is a top choice for retirees, with 30% saying they are considering buying property there. The country appeals to those who value quality healthcare, safety and a robust government. It also has a number of other qualities that would appeal to those in their golden age.

“Along with stunning beaches, gorgeous historic cities, and a safe and friendly environment, Portugal offers a surprisingly low cost of living for retirees and a high quality of life,” McMahon said.

Costa Rica is a close second — 28% of retirees said they are considering buying property in this Central American country. The country appeals to American buyers who value safety, quality healthcare and favorable housing market conditions. There’s also plenty to keep retirees busy.

“Costa Rica is a haven for wildlife, adventure sports and enjoying the great outdoors,” McMahon said. “Healthcare and household help are very affordable, too.”

Sixteen percent of the retirees surveyed said they are considering purchasing a home in Panama. Panama is a top pick for its safety, quality of healthcare and quality of governance.

“Panama ticks many boxes — warm weather, unspoiled beaches, a buzzing capital city, a short hop to North America,” McMahon said. “And it has a bonus — an unrivaled program that gives retirees discounts of 10% to 50% on everything from eating out to travel to sporting events to hospital visits.”

Thirteen percent of the retirees surveyed said they are looking into purchasing land south of the border. Mexico appeals to buyers who desire safety, a favorable housing market and access to quality healthcare. Plus, with many different areas, there is something to appeal to any retiree both culturally and financially.

“Mexico boasts a diverse landscape, with Caribbean and Pacific coasts, volcanoes and lakes, colonial cities and vibrant beach towns,” McMahon said. “There’s something for every retiree, whatever their taste — and a home to suit their pocketbook.”

Buying a property in Spain is a desire for 12% of the retirees surveyed. The top features of Spain, according to those surveyed, are its safety, quality healthcare and culture.

“Spain is attracting more North Americans these days, including retirees,” McMahon said. “It’s easy to see why, with its rich cultural history, delicious cuisine and sun-splashed coasts. The cost of living is low, and retirees are eligible to join Spain’s public healthcare system.”