Portugal No Longer Top Retirement Haven as Retirees Seek Cheaper Options

Portugal, long considered a prime retirement destination for Europeans, particularly the French, due to its beaches, climate, and tax benefits, is experiencing a significant shift. Rising real estate and rental costs, with a jump of over 15% in two years, coupled with the cancellation of attractive tax incentives, are prompting many French retirees to look elsewhere. This trend is also relevant for Israelis, including those with Portuguese citizenship, who are seeking more affordable long-term stays in Europe and North Africa.

As a result, new destinations are gaining popularity. In France, the Brittany region, specifically the port town of Douarnenez, is emerging as a favored spot. It offers a seaside atmosphere and a more affordable lifestyle, with property prices significantly lower than in southern Portugal. Residents praise the peace and healthy sea air, enabling a good life on a modest pension.

Morocco's coastal city of Agadir is also attracting a growing number of retirees, drawn by its year-round sunshine, well-maintained promenades, and a large French community. The cost of living is exceptionally low, with estimates suggesting a comfortable lifestyle is possible on 900-1,000 euros per month. For Israelis, direct flights from Tel Aviv to Marrakech, a few hours from Agadir, have recently resumed.

Another alternative is Limoges in west-central France, which offers a green environment and affordability. It boasts a top-ranked university hospital and a dense network of specialists, making it attractive for those prioritizing healthcare access. The city also provides parks, riverwalks, and a rich cultural scene, presenting a compelling option for extended stays.