If you want to retire overseas full-time, or even for part of the year, these are some of the best city options available.
These cities all have a few things in common. They all offer a high standard of living and benefit from solid infrastructure. They all have good transport links to Canada too. Even though you’re thousands of miles away, it’s comforting to know you’re only a plane journey away.
As the winter looms ever closer, thoughts can easily turn to escaping the worst of the weather. Here are the best cities for Canadians to retire to.
Lisbon
Lisbon is one of our favorite cities because it has so much going for it.
One of the biggest selling points is the residency option. Invest in real estate in Portugal and you can qualify for an EU residency. Prices vary depending on where you buy. In some neighborhoods an investment of 350,000 Euros is enough, in others you need to spend 500,000 Euros. It’s a small price to pay for an EU residency that will allow you to travel freely between all EU member states.
One of the best things about living in Lisbon is the beach. Panama City is a coastal city, but the best beaches are a little way outside the city limits. Lisbon has clean, safe, beaches within the city, and stretching down the coast.
Lisbon is an historic city with architecture from the Romans, Moors, and Medieval influences. It’s a walkable city too. In combination with the tram system, you can easily navigate the city on foot. Lisbon also makes a great base to explore the rest of Europe.
Lisbon has lots of great places to eat and the seafood is some of the best you can find, anywhere in the world.
Panama City
Panama City benefits from warm weather all year. 75 degrees Fahrenheit is the about as cold as it gets. At this temperature you can see locals wearing coats. Panama City is always warm and usually sunny. The rainy season can bring some epic downpours, but even then the sun usually shines a few hours per day. Unlike other Central American and Caribbean countries, Panama is never hit by hurricanes.
Panama City has the best infrastructure in Central America. The metro system links much of the city, and there are new lines being built. There’s a bus network that connects Panama City with the rest of the country. There’s also a national airport that flies to destinations across Panama.
If you’re retiring to Panama City to enjoy the good weather, then look for a property that has a swimming pool. Lots of the apartment buildings come with a communal swimming pool or you can find a house with a pool. The humidity can be oppressive. You won’t want to spend hours sitting outside without the option of having a swim to cool off.
Medellin
Medellin is one of the most attractively priced cities that Canadians can retire to. The dangerous reputation has been consigned to the history books. Pablo Escobar died in 1993, and Medellin has been a safe place to live for decades.
Medellin ranks well for standard of living and also for real estate value. Our real estate experts regularly rate Medellin as having the best value real estate in the world. Prices have been rising steadily, but still represent great value when compared with similar cities worldwide.
Medellin is a mountain city which means the weather is Spring-like all year. This can be a plus or a minus depending on your outlook. Some expats miss having four distinct seasons. Others like the temperate climate. It’s good for the budget, too. In Medellin you won’t need air conditioning and it’s rare that you will need to put the heating on.
Paris
COVID-19 has made some real estate investors nervous. Investors in tourist towns for example, are feeling the pinch now they can’t generate rental income. In many cases real estate values in these areas will fall.
Owners Paris aren’t worried. The Paris market is one of the strongest in the world. Demand for real estate in Paris is strong enough that many properties don’t even make it onto the open market. All of this makes an investment in Paris real estate one of the safest places to store your wealth.
Living in Paris is similar to what you would expect. Beautiful architecture, quality and affordable public transport. Lots of galleries, museums, and exhibitions that are free to enter. Some of the best places for food and drink that you can find anywhere.
What lots of people don’t realize about Paris is how affordable it can be. There’s no need for a car. Restaurants can be as expensive as you want to pay, but the daily diet is simple, tasty, and affordable. Think French bread, cheese, ham, fresh fruits and vegetables.
The climate in Paris is fairly moderate. You don’t need to have the air conditioning running all year, and most places don’t even have a unit installed. When the hot weather arrives in July and August, you can do what most Parisians do, and head to the beach.
Other Options
If you enjoy mountain living, Cuenca in Ecuador is another great option. Cuenca is an affordable city with lots of Colonial architecture and a thriving cultural scene. Real estate prices are super affordable and there a growing expat community in Cuenca, and Ecuador in general.
Santo Domingo, is the capital of the Dominican Republic, one of the oldest cities in the Caribbean. The Dominican Republic is one of the last affordable Caribbean countries, and the future looks bright. The government is investing in all types of infrastructure. From health care, to roads and airports. The residency process is quick and straightforward, making the Dominican Republic one of the best places to diversify with another residency.
Buenos Aires in Argentina is also known as the Paris of South America. Prices are as low as they’ve been in a long time. The economy in Argentina makes this a risky bet, but your money will go a long way. Buenos Aires is the best place for a European lifestyle in The Americas.
Oliver Lovett
