What does it cost to retire to Italy?
It’s no surprise that retiring to Italy is a dream for many. Relaxed culture, outstanding food and drink, exquisite landscapes and more, it’s the goal for many. Indeed, Italy ranks highly in the Global Retirement Index. But is this a dream that crashes when you start doing the sums? Here, we take a look at the truth of what it costs to retire to Italy.
The cost of retiring to Italy – the basic sums
A good rule of thumb is that if you can afford to retire in the UK, you can afford Italy.
Your biggest cost, as always, will be accommodation. Real estate prices in Italy do vary considerably by area. However, a quick browse through our Italy property listings will show you that you can definitely get more for your money in Italy than you can in most areas of the UK.
Indeed, using a cost of living index, we discovered that real estate prices in Italy are just £1738.37 per square metre, compared to £2945.78 per square metre in the UK.
It gets even better when we look at other costs of living indicators. Your basic utilities will cost you less each month. Even indulging in a café cappuccino will only cost you the equivalent of £1.17 compared with £2.67 in the UK!
For those looking to retire, the other primary consideration should be healthcare. For the time being, UK nationals are EU citizens and therefore as long as you register with SSN, the national healthcare system, then you are entitled to the same access as Italian nationals. However, do keep an eye on how this may change post-Brexit.
Furthermore, if you retire to Italy but want to continue to claim your UK state pension, you can do that too.
It’s good news if you want to retire to Italy
So yes, the reality is that if you can afford retirement in the UK then you can afford to retire to Italy. It’s time to whet your appetite, have a look at the properties we’ve currently got for sale for those retiring to Italy. Get excited!
Get in touch with us on +44 (0) 20 3137 5067 or firstname.lastname@example.org and we’ll help you understand more about the Italy real estate market for those moving from the UK.