UK pension disillusionment boosts Spanish property investment

Recent statistics from Inside Track revealed that 68 per cent of Britons now depend on different sources of future income after retirement. This is clearly indicated by the fact that nearly a quarter of people have gone to the extent that they gave up their pensions, while others those who put in, the amount is too low to provide sufficient retirement income.

The study found that only 15 per cent invest £200 or more. Just about 53 per cent invest less than £100 a month. Another statistics revealed that 22 per cent said that investing in overseas property would present the better option, with just 18 per cent opting for stocks and shares.

Dave Isley from NatWest stated that the Spain is highly popular destination among the retirees. Spain is said to be appealing because it offers healthy living standards, high-class housing, good weather, beaches and plenty of outdoor space. Anthony McKay, chief operating officer of Inside Track Group has said that now people consider property as an investment class in the same way they do the stock market. The high rate of house price inflation in Spain means that investors could potentially make a substantial profit should they come to sell up after their property has increased in value.

Recently Sun newspaper reported that Spain is said to appeal to different groups of property buyers, such as people who want a holiday home and those who are purchasing in order to generate wealth. Scottish Widows, pensions and investment provider has found that one-third of people in the UK want to live abroad after their retirement. Spain was found to be one of the most popular destinations with 24 per cent of British expatriates including retirees opting to live there permanently.