British expat retirees well placed to afford Iberian homes

Published:  30 May at 6 PM
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Due to strong increases in UK property values during the last several years, UK retirees are well-placed to afford properties in Spain and Portugal.

Spain’s Andalusia and the Algarve in Portugal are still favourites for Brits wanting great weather, a friendly community and lots of activities in retirement. Due to the increase in the value of UK homes in most areas, they’re able to afford luxury for the price of a basic semi-detached UK house.

Property specialists in both destinations are convinced the areas will benefit from a rush of older Brits with bank accounts reflecting the sale prices of their former UK homes. Spain in particular is still the expat favourite, with some 800,000 resident UK citizens, around 13.8 per cent of all British expats living overseas. Portugal has long been the select destination for a good number of Brits looking for an alternative to crowded beaches and rowdy nightlife.

Both countries have their tempting plus-points for those escaping Britain’s weather, politics and increasing cost of living. 300-plus days of sunshine per year, affordable quality wines, healthy food, fabulous beaches, beautiful scenery, golf courses, historic buildings and fascinating cultures offer expats a rewarding lifestyle after years of work.

Retire Overseas’ index for 2015 rated Portugal’s Algarve region as the best retirement haven on the planet for all the above and more good reasons. The low cost of living brings even the basic UK state pension into focus as enough to manage on, and the country was also featured in International Living’s Global Retirement index 2016 as one of the best choices in Europe.

The biggest draw in both countries is affordable housing, with apartments available from around $70,000 up to large, luxury golf-resort villas boasting spectacular sea views and swimming pools at around $4 million. With the average UK house price now standing at £350,000, it’s easy to find an affordable dream retirement property in either country.
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