The vote is pretty much unanimous and according to sources like Forbes to CBS News, the Algarve has gained a reputation on social media as the number one spot to retire overseas. The benefits just keep stacking in the region’s favour and at the top is the cost of living. The Algarve, like the rest of Portugal, has a very reasonable cost of living and residents can get by comfortably on as little as €1,300 per month, which is easier when living with a partner. This is only an average amount, however, and can increase or decrease based on where you choose to live; for example, rents in Albufeira may be higher than in Tavira or north near Alentejo.
In addition to lower costs than many other European regions, international pensions stretch further in the Algarve due to the qualification of a 10-year tax exemption.
Another benefit is the weather. The Algarve enjoys year-round sunshine and a mild climate, and even in winter the air temperature rarely drops below 12°C or 54°F.
Another obvious reasons retirees leave their homes for the Algarve is the ocean and the beaches. Southern Portugal is lined with stunning coasts fringed with cliffs and dotted with caves. The proximity to the ocean also means fresh seafood and many restaurants serve fish freshly caught the same day. There’s no doubt that the Algarve is a fantastic place to eat fresh, heart-healthy, and delicious seafood.
Though there are plenty of sleepy fishing villages the Algarve has many other things to see and do. From medieval towns to fish markets, open-air flea and gypsy markets, and sports like golf, there’s a wealth of opportunities to keep busy and active. Golf is extremely popular and there are dozens of amazing courses across the area. The region thrives on socializing and there is a diverse range of cafés, bars, and restaurants that stay busy, especially at peak hours.