Retiring to Spain – Buying A Property In Spain

Retiring to Spain:

Spain has long been a favourite destination with British retirees. It has sun, sand, golf and affordable, healthy and delicious food and wine. It also has more than four doctors per 1,000 inhabitants, according to a recent study by Audley Villages, which ranked Spain as the best country for retirement out of the 37 member countries of the Organization for Economic Cooperation and Development. Spain also ranked second in Blacktower’s latest list of the best European countries for retirement.

Another major part of Spain’s appeal is the cost of property there, compared to the cost in the UK. The average UK house price as of March 2021 stood at £256,405, according to the Office for National Statistics. That’s the equivalent of just shy of €300,000 at the time of writing.

With that kind of budget, buyers can pick up anything from an island property to a golf apartment to an urban townhouse, according to Taylor Wimpey España’s Sales and Marketing Director, “Retirees in Spain tend to find that their money goes further here in so many different ways.

“The cost of living in Spain is significantly below that in the UK, as is the cost of property. As such, retirees in Spain can opt for things that might perhaps be beyond their budget in the UK, such as sea views or a golf-front home.”

Numbeo ranks the UK as the 28th most expensive country in the world for its overall cost of living. Spain, meanwhile, comes in 39th. This is an important consideration for many retirees.

So, what is it that retirees want from their properties in Spain? According to Taylor Wimpey España, quiet locations with attractive, open views are often a top priority. Homes also need to be within an hour of the nearest airport (1.5 hours at a push) and accessed by good roads.

“In terms of local amenities,” explains, “retirees tend to want to be close to the beach or to the golf course – if not both. And for the properties themselves, terraces are an absolute must: somewhere to sit outside and enjoy the sunshine. Open plan kitchens are also sought after, while an on-site pool is very much appreciated too.”

Based on Taylor Wimpey España’s data, retirees are equally happy to buy homes on the Costa Blanca, Costa del Sol or the Balearic Islands of Mallorca and Ibiza. Each of the four locations offers the lifestyle that so many retirees are seeking, highlighting Spain’s versatility when it comes to making the most of your golden years.

Where to buy in Spain – Retiring to Spain

The Costa Blanca is the most affordable of these four areas. Key-ready apartments with direct beach access, pool and private terrace, at La Recoleta III in Punta Prima, Torrevieja, are available from €190,000 plus VAT for a two-bedroom home.

On the Costa del Sol, key-ready golf homes at Sun Valley are available from €251,000 plus VAT. The development is located at the prestigious La Cala Golf Resort, with panoramic views over the course and out to sea.

The Balearics Islands tend to be pricier than the mainland, but retirees can still get excellent value for money there compared to property prices in the UK. A new urban townhouse with communal pool, for example, costs from €261,000 plus VAT at Ikat at Ses Salines, on the southern coast of Mallorca.

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