08/26/2024
Forbes: August 25th, 2024 Alex Ledsom
Retire To France, Live Like A Tourist - It’s More Affordable Than You Think
France's history, way of life, beautiful scenery, and delicious food are why it's one of the most visited countries in the world. If you've ever thought about spending retirement in France, though, it's much more affordable than you think and more accessible than you might imagine.
Indeed, many Americans have been flocking to purchase properties, some taking advantage of the exchange rate to snap up houses across France. Now might be a perfect opportunity if you've always wanted to live like a tourist on a semi-permanent basis in Europe.
Earlier this year, CNTraveler rated France as the ninth best place to retire in the world, after Ecuador,* Malaysia, Panama, and others. It says that outside of the major tourist traps of St Tropez and Paris, for instance, you can often find comparable properties 34% less expensive than they would be in the U.S. One example given is cultural Montpellier, thirty minutes from a beach and with modern apartments that start at $160,000.
Americans on a slightly higher budget are also flocking to France. Bloomberg reports that affluent Americans are causing an eye-watering surge in property prices above $15 million, outperforming London over the past few years, driven by the possibility of remote working.
These are long-term investments for homeowners who will live there for several months in a year, becoming affluent digital nomads or long-term residents. This marks a change from the past when they would visit their homes only during the summer.
More than 70,000 homes along the Côte D'Azur coastline are owned by foreign second-home buyers. Americans tend to reside in Cap Ferrat and St Tropez. Bloomberg reports that the recent political elections are unlikely to dent Americans' demand for homes in France.
Healthcare is dependable and modern, and crucially, prices are capped by law. The minimum visit to the doctor or dentist is around $30, with specialist doctors capped at about $50. Treatment is free for any long-term illness, such as cancer, heart disease, Parkinson's disease, Alzheimer's, or dementia, after diagnosis.
You can enroll in the healthcare system after three months of obtaining your visa without worrying about age limits or pre-existing conditions. You can visit any healthcare provider in the country and book online, meaning that if your health allows, you can continue traveling around the country.
U.S. retirees in France can enjoy significant tax benefits. Thanks to treaties between the two countries, you may be exempt from taxes on your social security, pensions, and passive income. You'll still need to declare these in France.
While France doesn't offer a retirement visa like some other countries, longer-term visas are uncomplicated to obtain, and the bureaucracy is manageable. Many Americans apply for a VLS-TS Long-Stay Visa (carte de séjour).
As per CNTraveler, you'll need a minimum pension of $1,073 as a single person or $1,666 as a couple. The visa has to be renewed every year but could eventually be rolled into longer-stay visas for five or ten-year terms. You must apply within three months of your intended arrival in France.
Link: https://www.forbes.com/sites/alexledsom/2024/08/25/retire-to-france-live-like-a-tourist-its-more-affordable-than-you-think/
Alex Ledsom is a Senior Contributor based in France who has been writing for Forbes since 2019. She covers global travel, news, and trends but has a specific interest in Europe.
*(edit) I’ve been to Ecuador…Really?
