NEW YORK (Reuters Life) – Mexico has been named as the best place in
the world to retire by an annual retirement index, replacing last year’s
winner Panama where real estate prices have soared. Releasing its 15th
annual global retirement index, International Living magazine said Mexico
had jumped four places to top the list due to “an affordable combination of
modern features and old-world charm.”
The report analyzes 29 countries, and gives them scores in categories
including real estate, entertainment, special benefits offered to retirees,
culture, safety and stability, healthcare, climate, infrastructure and cost
of living. “Moving to Mexico means you can still have all of the amenities
you grew accustomed to north of the border: cable TV, high-speed Internet,
and modern home appliances,” said the magazine’s managing editor Laura
Sheridan in a statement.
Mexico also won praise for its health care, diverse climate and affordable
real estate. The magazine, which caters to people living and working
overseas, said a beachfront property in Mexico could be bought for less than
$100,000 USD (in the more remote stretches of coastline, of course).
Trailing Mexico as international retirement locales were Ecuador, Italy, Panama, Australia, Malta,
Spain, South Africa, Malaysia, France and Thailand. Panama fell to fourth slot due to a dramatic rise in real estate prices, particularly in Panama City, and because the government has recently restricted tourist visas to 30 days, making it harder for seasonal part-timers to live there.
The United States ranked No. 19 in the report, scoring poorly in the area of special benefits for retirees. It scored well in both safety and infrastructure. The United Kingdom was ranked at the bottom of the list of 29 countries, largely due to its high real estate prices and overall high cost of living.