More Americans are considering and actually moving to Europe.

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Polls and statistics show that interest in retirement in Europe is surging as more Americans look abroad for affordability, stability, and a higher quality of life. European destinations such as Portugal, Italy, Greece, Spain and France tick many boxes, offering the possibility of lower living expenses, strong public healthcare, and accessible residency pathways. Notably, they sometimes have tax-friendly infrastructure and are politically stable amid huge geopolitical uncertainty.

Retirement In Europe Is Being Driven By Cost

More American retirees are considering moving to Europe. Polling from Monmouth University and Gallup shows that the percentage of people aged 55 and older who want to leave the country is now 17%, more than four times the level in 1974.

The figure has really accelerated since 2017, though, driven in a large part by cost—to live a better quality of life at a lower cost and to have access to affordable healthcare and housing in later years.

Take Portugal, for example. The cost of living per month for a single person, excluding rent, is around $592, whereas in the U.S. it is around $1,166. Rent in Portugal is about 40-50% cheaper than the average rent across America. In Italy, the cost of living is nearly 27% lower than the U.S. average. In both cases, American retirees can build a high-quality of life close to the Mediterranean coast, culture and climate.

In addition, many European countries have double taxation treaties with the U.S. (Portugal, Italy and Greece, for example), which help avoid being taxed on the same income twice.

Retirement In Europe Offers A Plan B

With increased geopolitical instability, Americans are also increasingly seeking a Plan B for their finances and residency, somewhere else to invest and move to. Countries can change their rules quickly—think Brexit, when all British people lost their European identity and the right to live, travel and work freely in all EU member states—so it can be helpful to have backup plans.

As Bloomberg adds, taxes can change the situation quickly. In 2018, France abolished its wealth tax, and Spain added one of its own a bit later. Americans are also taxed regardless of where they live, which can make things more complicated than for other nationalities. Having the right to live and work in different places can mitigate this risk.

Retirement In Europe On Golden Visa Programs

Zaid Aldayriyeh, founder of Citizenship Bay, a citizenship consultancy, adds that golden visa programs can also offer financial returns beyond the residency rights they confer.

In Portugal, for example, investment funds have historically offered estimated returns of 4% to 12%. In Greece, real estate investments can yield around 3% to 4%, while in Italy, investments in qualifying companies may also generate returns in the 3% to 4% range.

Because golden visa programs in Europe do not require full-time residency or immediate relocation, they allow Americans to transition to Europe on their own terms.

For retirees with the wealth to purchase a golden visa, European residency is not just about relocating, but it is “a structured approach to retirement planning, geographic diversification and long-term lifestyle security across multiple jurisdictions.”

Where Are Americans Retiring In Europe?

France is not a bad choice for retirees, as there is a US-France tax treaty, meaning that France doesn’t double-tax US-sourced income. And if you’ve been a resident for three months or more, you can access the health system. France offers many visa options for anyone looking to make it their home. The bureaucracy is legendary and sometimes feels insurmountable, but the culture, the life, the people and the language make it worthwhile.

Aldayriyeh reports that Citizenship Bay is finding that American retirees are currently heading to one of three European hotspots:

  • Italy, where over 14,676 American retirees are now collecting Social Security. Demand for Italy’s Golden Visa jumped 27% in Q1 2026 year-on-year, driven by lower entry points starting at €250,000 and increased interest in the company investment route. Bloomberg adds that Italian health care costs a few thousand dollars per year, and living in the south offers distinct tax benefits, such as a 7% flat annual tax for foreign retirees who move to smaller towns in less developed areas.
  • Greece, which welcomes 11,135 American retirees and is also seeing strong momentum, with a 14% increase in demand, particularly through €250,000 conversion investments in Athens.
  • Portugal, where Americans already make up a significant share of foreign retirees, with more than 20,000 Americans living in Portugal, of whom around 71% are Social Security beneficiaries.

There are reports that very big changes to Portugal’s nationality act—residency is now required for ten years instead of five before you can apply for citizenship, and real estate was taken off its golden visa program—is starting to see Americans showing more interest in other countries, notably Spain, Italy and Greece.

CNTraveler recently wrote on the European countries that are more tax-friendly to Americans, notably Andorra, Cyprus and Malta:

  • Andorra is not part of the EU, but it is ideally located to visit all of it, nestled between Spain and France. It has a digital nomad visa and a golden visa program.
  • Malta has its own retirement program, needing pension income combined with a property purchase or annual rental of around $10,000. Malta taxes foreign income at 15%, one of the EU’s lowest rates.
  • Cyprus offers a digital nomad visa with a monthly minimum income requirement of around $3,500 after taxes, or a golden visa program that grants permanent residency if you invest more than $300,000 in property.

Retiring In Europe Can Mean Following The The Warm Weather

There are lots of reasons to want to move to Europe, but depending on where you aim for, one of them may be the weather. The European Correspondent recently analyzed where in Europe to stay each month to experience the best weather, suggesting that in January/February, Murcia (10 mild days) and Seville (15 mild days) in Spain could be the best options.

Head to Nicosia (23 mild days) in March and April, and to Valetta (28 mild days) in May, in Malta. Malaga, Spain (27 mild days) is a good bet for June, and Lisbon, Portugal (31 mild days) for August and September, with the season moving further east in October to the year-end in Kahramanmaras (27 mild days) and Mersin (23 mild days) in Turkey.

If you need further incentive, Holidu, the holiday rental site, recently published the 30 sunniest cities in Europe, with Spain claiming 7 of the top 10 sunniest cities in Europe, with Cartagena in first place, averaging 282 sun hours per month, a quieter, crowd-free alternative to the usual hotspots.

So, as costs rise and uncertainty grows in the U.S., the appeal of retirement in Europe continues to grow. With countries offering affordability, long-term security, tax treaties, an array of accessible visas—golden or otherwise—and lifestyle perks ranging from sunshine to accessible healthcare, Americans are finding that Europe offers both practical advantages and a sense of stability.

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