Today's Crisis in Europe Creates Opportunity for North American Retirees

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With property prices in free-fall, Europe's damaged economies could become affordable havens for North American retirees InternationalLiving.com reveals.

The current economic crisis in Europe is making countries such as Spain, Greece and Ireland more affordable overseas retirement destinations today for North Americans, according to overseas experts at InternationalLiving.com.

Many Western European countries have struggled in recent years, with the so-called PIGS (Portugal, Ireland, Greece and Spain) hardest hit.

However, in the Europe-focused August issue of International Living, the magazine’s experts say the continent’s problems present an opportunity for Americans considering a move overseas.

Property prices in each of these countries are in free-fall as economic growth slows or in some cases reverses.

“The values of cottages on some Greek islands are heading toward zero,” said InternationalLiving.com’s property expert Ronan McMahon. “You could pick one up by the end of the summer for less than the price of a budget family sedan.”

Property prices are also falling dramatically in Spain, and by as much as 75 percent in Ireland.

The cost of living is also dropping in countries which, in the past, struggled against a reputation for being expensive.

According to InternationalLiving.com, these European nations have been made more affordable still by the drop in value of the euro against the dollar.

But while their economies are hard-hit, there has been no real change in the type of lifestyle on offer: “The economies in Europe are under tremendous stress, no question, but there remains plenty to admire about the lifestyle there,” said InternationalLiving.com executive editor Jennifer Stevens.

“In stone-walled villages built on hilltops overlooking vineyards…on islands where blue-domed, whitewashed homes mirror the Aegean sun…you can still live very comfortably today, and for much less than you might imagine.”

To read InternationalLiving.com’s full article, see here. "Europe Now More Affordable than ever for North Americans".

Editor’s Note: Members of the media have full permission to reproduce the article linked above either in part or in its entirety, once credit is given to InternationalLiving.com.

Media Contact: For information about InternationalLiving.com content republishing, available source material or to book an interview with one of our experts, contact Associate Editor Carol Barron, 772-678-0287 (US), CBarron(at)InternationalLiving(dot)com or visit the Media Center . For automatic updates on the most current stories, follow InternationalLiving.com Media on Twitter.

For more than 30 years,InternationalLiving.com has been the leading authority for anyone looking for global retirement or relocation opportunities. Through its monthly magazine and related e-letters, extensive website, podcasts, online bookstore, and events held around the world, InternationalLiving.com provides information and services to help its readers live better, travel farther, have more fun, save more money, and find better business opportunities when they expand their world beyond their own shores. InternationalLiving.com has more than 200 correspondents traveling the globe, investigating the best opportunities for travel, retirement, real estate, and investment.

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