According to the Financial Reporter, a new survey questioning people aged between 45 and 64 and approaching retirement, demonstrates that the number of people who would consider buying abroad has risen from 30% in August 2006 to 38% in 2013. This equates to approximately 5.4 million UK residents.
Furthermore, 1 in 10 respondents claimed they had definite plans to buy property overseas. 62% of those surveyed said they would continue to base themselves in the UK, using their holiday home for between 3-6 months of the year. Spain continues to be the top retirement hotspot followed by France, Italy, Portugal and Greece.
With over 50 years’ experience in assisting those moving to Europe and beyond, Interdean were interested to see such a jump in numbers since the economic downturn. A representative from the firm explains how this factor, combined with the current fall in prices of property around Europe has influenced people to buy abroad.
“The lure of a better climate and more relaxed pace of life is what often attracts future retirees to places like France and Spain, especially as they are only a short journey from home. In the past few years expats have found that overall living costs in these destinations tend to be lower, and they are also faced with lower interest rates.
