I’ve had a great week in Corfu, staying with friends who have villa there. They rent the place out regularly and I really recommend it. There’s a lovely pool, fabulous sunshine and wonderful views. You can either get the granny flat or the entire place, depending on your budget and how many of you are going. It’s beautiful and very peaceful as you can see at their website Villabigiolicorfu.

Roger and Elsa have done it all very well. Roger’s a builder and he built the place himself, with help from a local building firm (which they recommend). Land with fantastic views is relatively cheap (and is likely to get cheaper as fewer foreigners like us have the cash to spend there) and you’re guaranteed good weather for at least nine months of the year.

However, this rural idyll is proving tougher to maintain than they thought and they’re glad they still have their place in the UK to come back to.

Greece is finally being forced to deal with decades of corruption and over-spending. Their VAT is now 23% (and we’re complaining about 20%) and wages are about half what you can get here…possibly less. In Corfu, the only way to get about properly is by car (there are buses but they are infrequent and slow). Locals have to pay 1.6 Euros per litre for that. From what I can see, prices aren’t going to go down either.

Roger and Elsa are in a better position than most. They’re working towards making themselves self-sufficient. They already grow tomatoes, courgettes, peaches, figs, artichokes, beans and a host of other fruit and veg and they’re planning on growing an orchard. They also have some solar-powered energy. But even so, they can’t grow everything.

And Greece isn’t the only country being forced to pay off debts. Spain, Portugal and Italy – all lovely, warm places to retire to – are going to find the cost of living shoot up in the next few years.

If you’re thinking of moving out to any of these places, make sure you have a plan B, even if it’s a clever way of making money on the side or just a way of coming back here if you have to! These places that have seemed so cheap with their cheap land, cheap local food and cheap labour are changing. It’s still possible to move out there, but keep an eye on the cashflow.