Cheapest countries to retire in revealed… some are half the cost of the UK

THE cheapest countries for Brits to retire in have been revealed – the cheapest being half the cost of the UK.

As the cost of living crisis continues to hit, more and more people, particularly pensioners, are looking to live outside of the UK.

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Searches for the “best country to retire to from the UK” have risen by more than 90 per cent in the last 12 months, according to Euronews.

Analysis from Penfold has revealed the best countries for Brits to move to, in order to boost their quality of life.

The financial experts examined the top countries retirees already look at and compared them using 12 different lifestyle factors including exchange rates, healthcare costs and the amount of money required to apply for a visa.

The cheapest countries that came out on top were the Philippines, Thailand and South Africa, which were found to have prices around half of what they are in the UK.

In Europe, the cheapest places to live was Croatia.

The price of rent and day to day living was found to be almost half of what it is for Brits who stay at home.

The financial requirements for visa applications were one of the lowest (around £2,839) and healthcare costs were also low.

Flights to the country were also said to be relatively cheap and flight times were, on average, just over two hours.

In second place was Spain, already a popular place for Brits to retire to.

The country was noted for its warm climate, beautiful beaches and easy access by train or plane for friends and family to visit.

It also scored highly for happiness and safety.

Ireland was placed third on the list with the benefits of good healthcare, lots of green spaces and close proximity to the UK making up for the less-than-ideal climate.

It was also one of the happiest and safest countries to settle in with retirees only needing €7,000 (£6,060) in their bank account to apply for a visa.

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