How long would £1m last for retirees across Europe?
By Robbie Lawther, 31 May 19
Assuming an expat buys an apartment just outside of the city centre at the start of retirement, the gallery below shows where £1m would last the longest in the top European countries for expats and where they would struggle to make ends meet.
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Retiring with £1m ($1.26m. €1.13m) seems like a dream – but there is always a catch.
The incredibly varied cost of living across Europe would see some pots depleted much more quickly, leaving many potentially struggling to make ends meet.
But a survey has been carried out by online retailer Witt International to assess whether it would be easy to retire on £1m in the top 15 European expat destinations by comparing a basic cost of living to a luxury lifestyle.
Those in the know will likely not be surprised that Poland is the country where expats would make their money last the longest.
The average property price is £102,063 – the second lowest of all of the countries in the survey.
A basic lifestyle in Poland would cost £14,128 per year meaning the pot would last around 64 years, while a luxury lifestyle would cost £21,192, lasting for 42 years.
Portugal and Greece were the other most reasonably priced places for expats to retire.
Both countries’ basic and luxury lifestyles would last 48 and 32 years, respectively – but property in Greece was the cheapest at £99,190.