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Why is Turkey the best country for millennials to retire?

Where is it better and more profitable for foreigners to retire: in their own country or abroad? One of the countries pensioners often choose is Turkey. However, not everyone is aware of the benefits that this Mediterranean coast country offers for retirees in terms of the level of medical care, cost of living, and comfort.

Pension in Turkey

Is Turkey the best country to retire and live in? Let us figure that out in this article.

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Turkey is an Attractive Destination for Millennials to Retire

People usually described as the generation of Millennials (Generation Y) are those born during the era of progressive technological development – between 1985 and 1996/2000. Unlike the Centennials (Generation Z), millennials still remember playing soccer in the backyard but are well-versed in Internet gaming innovations.

It’s sort of a crossroads between the past and present: that is evident from millennials’ attitudes toward life and work. Such people really appreciate what they have because they remember how hard it was to get. At the same time, they can stay out of touch with reality for a long time, getting addicted to the internet and social networks.

However, with all their positive and negative features, it remains true that Generation Y seeks to provide for their future comforts without spending a lot of money. They often choose between great and expensive and good and affordable.

For many millennials residence and retirement are already a visible future. Many Generation Y retirees (especially those living in post-Soviet countries) are considering the prospect of moving to Turkey and requesting a residence permit or permanent residence there.

Why Do Foreign Retirees Choose to Live in Turkey

First, note that the Turkish government has no specific program for retirees to apply for Turkish citizenship. In order to qualify for retirement and permanent residence in the country, you will need to choose among the existing options for immigration, and here purchasing real estate has long been the first choice for foreigners.

Advantages of Turkey for retirement and residency:

  • The cost of living is comparatively low;
  • Purchasing real estate that costs $400,000 or more provides access to the Turkish citizenship program;
  • The Mediterranean is a great option for living and vacationing, and Turkey is more affordable than Portugal, which is located on the other side of the sea. However, the cost of living in these two countries is dramatically different;
  • Turkey allows visa-free stays for citizens of many more countries than Portugal, which is part of the EU;
  • Millennials can receive a substantial pension increase when they invest in Bireysel Emeklilik Sigortası (BES), which is a funded pension plan. Our experts can help you choose the right bank for the program;
  • Life expectancy in the country is around 78 years.

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Contact the experts on our portal and choose the most suitable way for you to immigrate to Turkey. One of the options you can choose is investing in real estate with subsequent citizenship.

REAL ESTATE FOR SALE IN TURKEY: CONSIDER OUR OFFERS

Ranking of the Best Countries for Millennials to Retire in 2023

A well-known international magazine has reviewed several countries that are best for millennial retirees. While Turkey was ranked first a few years ago, Portugal is recognized as the best country for pensioners in 2023, according to the magazine. 

Following is a ranking of the countries based on cost of living, climate, and medical care, but it’s important to note that each country included in the rating has pros and cons for foreign investors and pensioners.

CountryCost of LivingClimateMedical Care
Portugal858892
Mexico928682
Panama788084
Ecuador888781
Costa Rica688091
Spain797288
Greece846882
France568284
Italy887080
Thailand965876

All the countries above offer profitable immigration programs for non-residents, and a range of opportunities for employment, obtaining a residence permit, and citizenship. To learn more about the details of various programs, request a consultation from the experts of our international portal.

While this research did not include the Republic of Turkey, the country is still popular among Generation Y retirees, as well as people of younger generations, and entrepreneurs of various ages. 

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