Greece and Cyprus are two of the five destinations for British retirees that prefer to retire. The other 3 destinations are Spain, Portugal and Italy.
The Mediterranean countries, according to the relevant article in the Daily Telegraph, are very high in the English preference for permanent settlement because the common option for this purpose, countries such as Australia, New Zealand, Canada and the U.S. are not so easily reachable as in the past.
The governments of these countries require as a condition for issuance of the visa strong financial strength. Apart from that pensioners take into account other minor factors, such as short distances that make it easier for retirees to visit the United Kingdom and their relatives, friends can visit them in the country that ultimately choose.
Source: Tourism & Property