The 21 best places to retire overseas

  • Serhiy Sakhnyk/iStockphoto

    By Caroline Nolan/TheStreet

    When some people think of retirement, they imagine taking long trips to far-away places. But what if you could spend your retirement not just visiting these destinations, but living in one?

    Live and Invest Overseas, an overseas investment, real estate and retirement resource, has published its annual "Retire Overseas Index." The 21 cities in the index are determined by the following factors: climate, cost of living, English spoken, entertainment, environmental conditions, existing expat community, health care, infrastructure, real estate, residency options, safety and taxes.

    There is not one retirement destination that is perfect for everyone, but the Index is meant to help narrow down a retiree's options based on personal preferences, lifestyle and needs.

    In the past, cities in South and Central America ranked high in the index. However, the rise of the U.S. dollar has made European cities more popular for retirees. This year, three of the top five best places to retire are in Europe.

    So, which cities and regions made the list? Click through to find out.