Assetz® News - Property in Spain still much-loved

Property in Spain still much-loved

17th May 2006 |

Investors are currently spoilt for choice when it comes to purchasing an investment property abroad, but it would seem that Spain has retained the magical appeal that has made it popular with Brits for years.

A recent report from King Sturge, the independent property consultants, looked at the "relatively new phenomenon" of retirement migration, which it claims originates in the US. The report drew attention to the inverse pyramid age structure that is developing in Europe, with older citizens outnumbering youngsters.

Old age is increasingly being seen as "an economically and socially valuable phase in life" across Europe and retirement migration is a natural consequence of this. Mobility is much less of an issue than it has been in the past and retirees are being drawn to the idea of seeking a better quality of life overseas.

The survey concluded that 35 per cent of Germans and 22 per cent of Brits would be certain or likely to retire overseas if money were no object and it is a trend that has certainly become more and more prominent.

British and German respondents also said that they prioritised good social and health services when it comes to choosing a location for retirement, while being somewhere that is easy for friends and family to visit was also seen as important.

Spanish property clearly meets all of the above requirements, especially as low-cost airlines continue to offer competitive prices for flights to popular areas across the country.

Unsurprisingly, 57 per cent of Germans and 42 per cent of the British said that they would like to be able to spend some of their time with their compatriots if they retired abroad. Spain also fits the bill in this respect, due to the huge number of expatriates in the country already.

In recognition of the fact that Spain is becoming increasingly multilingual, a new law is about to be introduced that will see English taught to children aged between three and six, reports the Expatica website.

This Organic Law of Education comes on the back of a report the placed Spaniards near the bottom of a league table for foreign language proficiency. While most Brits would recoil from the idea of simply moving into a British culture abroad, the increased emphasis on the English language in the country can only make it easy to organise the essentials when making the move.

The King Sturge report actually found that only 18 per cent of Brits thought that not knowing a foreign language was a barrier when moving abroad, while there has been a prominent rise in the number of mature adults learning languages in recent years to make integration easier.

Around three in ten Germans agreed that retiring abroad is an ideal way to make the most their retirement, while two in ten Brits made the same observation.

With its stunning climate and investment opportunities in developing locations such as Murcia, it is no surprise that Spain has emerged as the most popular retirement destination for both British and German respondents, with buy-to-let also seen as a strong option to bring in some extra income.