A new study has revealed a staggering 5,000% rise in searches for “cheap places to retire abroad” in the UK over the past 30 days, highlighting the growing appeal of warmer climates and more affordable living costs for UK residents exploring retirement options overseas.

Home-selling experts have identified the best countries for retirement, with seven popular European destinations making the cut. The latest research from We Buy Any Home analysed key factors such as happiness levels, climate, affordability, healthcare, pensions, and resources for retirees, uncovering the best global destinations for retirement in 2024.

Finland emerged as the top country to retire in, achieving a perfect score of 100 due to its excellent healthcare, low pollution levels, and high happiness index. Malaysia followed closely with a score of 96.1, and Belgium secured third place with 95.7 points, both offering affordable living costs and top-tier healthcare services. Other top destinations included Sweden, Denmark, Spain, Costa Rica, France, Thailand, and Austria.

For those planning to buy property abroad, Indonesia is the most affordable, with apartment prices averaging £592.53 per square metre. In stark contrast, Switzerland ranks as the most expensive, where property prices exceed £10,000 per square metre. Other affordable countries for property include South Africa, India, Malaysia, and Turkey, where prices range from £609.09 to £958.71 per square metre.

On the pricier end, Australia, Germany, New Zealand, and Austria also feature in the list of the most expensive countries for property buyers, with prices ranging between £3,890 and £4,235 per square metre.

Denmark stands out for its healthcare system, scoring 78.5 out of 100 on the Healthcare Index. France (77.8), Spain (77.7), Finland (77.5), and Austria (77.2) follow closely behind. At the other end of the spectrum, Malta ranks lowest for healthcare quality with a score of 51.9, a significant consideration for retirees moving abroad.

Finland, aside from its top spot for retirement, also ranks highest in the 2023 World Happiness Report with a score of 7.8. Denmark (7.59), Iceland (7.53), Sweden (7.39), and Norway (7.32) round out the top five happiest nations, further solidifying Scandinavia as a desirable region for retirees seeking a high quality of life.

For those considering a move abroad post-Brexit, property experts urge careful research into local real estate laws, residency requirements, and potential financial implications. Terry Fisher, a property expert, advises retirees to thoroughly understand the legal and financial landscape in their chosen destination.

“Retiring abroad post-Brexit requires careful planning and a clear understanding of the legal and financial landscape in your chosen destination. Start by researching the local real estate laws to understand the purchasing process and any restrictions on foreign buyers. It’s crucial to look into residency requirements, as some countries may require proof of income, health insurance, or specific visas for retirees,” Fisher explains.

He also highlights the importance of considering financial implications: “Think about tax liabilities, currency exchange rates, and the cost of living in your new country. Consulting with a local legal expert and a financial advisor can help navigate these complexities and ensure a smooth transition.”

Fisher also offers advice for selling property before a move: “To sell your house quickly, focus on setting a competitive price, improving curb appeal, and making any necessary repairs. Decluttering and staging your home can attract potential buyers, and working with a real estate agent specialising in quick sales will help facilitate the process.”