Retirees looking for Spain for new experiences

Brits retiring abroad are increasingly looking to try a new way of life and Spain is still a popular choice with people wishing to retire in the sun, it has been claimed.

According to Research by NatWest International Personal Banking , moving abroad is still a popular choice with retirees, with western European nations such as Spain and France and long-haul destinations such as Australia and US remaining firm favorites.

Dave Isley, head of NatWest International Personal Banking, said that nearly 92 per cent of retirees who decide to move abroad chose not to retire to a designated expat community. This seems to emphasize the notion that expats have retained a sense of adventure; they really do want to start afresh and experience life as a local rather than settle with other expats.

Meanwhile, property expert George Glen, the country's high-quality healthcare facilities and warm climate are key factors in its appeal to more mature buyers. Spain also offers British retirees the opportunity to live in predominantly English-speaking communities such as those around the Costa Blanca.

Mr. Glen commented: "Older people want to go to countries where they are not going to feel isolated."

In related news, Shelter Offshore explained Spain is still one of the main hotspots for senior expatriates. This was said to be largely because it offers numerous lifestyle attractions that are highly conducive to a relaxing and pleasant retirement.

Distressed properties offer best bargains in Spain

Those looking to buy properties in Spain pick up many bargains due to the economic climate, it has been stated.

According to data from the Royal Institution of Chartered Surveyors (RIC’s), 13 out of the 25 countries surveyed reported distressed sales which include Spain. The report stated that distress sales in the market are increasing at a faster pace than last quarter and greater number of distressed properties could become available in the coming months as the interest rates on many people's mortgages are set to rise.

Repossession orders in the nation already jumped to 27,621 in the first quarter. Local Property experts have suggested that people look for distressed properties in Spain as they can often pick up a bargain property for a low price.

Mark O'Sullivan, Director of trading at money Exchange Company Currencies Direct said that Clients that are buying through us are cash buyers. They are the EUR 100,000 - EUR300,000 (GBP87,000 - GBP260,000) plus buyers. This group is well able to pick up bargains in Spain, he noted, with there being a wide availability of distressed property, enabling buyers to "drive whatever bargain you like".

He noted that the number of buyers is rising, which he said is a common feature of the summer months.

In related news, buying distressed properties is the best way to get a good deal when looking to buy properties in Balearics, according to a recent article in the Daily Telegraph. Both Menorca and Mallorca remain popular with property buyers due to the high demand for summer rentals and the ease of access from the UK.