As living costs in the UK climb, more Britons are considering a move to Europe. With cheaper property, accessible healthcare via the S1 certificate, and a desirable climate, countries like Spain, France, and Portugal offer an appealing alternative for retirees and families alike. This guide explores the practicalities-from visa requirements and tax systems to regional property markets-helping you understand how a Mediterranean lifestyle could be more affordable than staying in Britain.
Last week's heatwave has given us a taste of a life lived in the sun, from al fresco lunches to long evenings spent outdoors. It's tempting to imagine how enjoyable life could be if that were the norm - with fewer grey wintry days to boot.
But it's not just the weather pushing everyone from pensioners to ambitious under-35s and squeezed young families to consider whether they could be better off if they moved abroad. Many are also investigating whether their savings or pensions might stretch further. A decent lifestyle in retirement requires an annual income of £31,700 in the UK for a single person and £43,900 for a couple, according to industry guidelines set by Pensions UK.
Property prices are going up across Spain, but your money still goes a long way in locations such as Alicante in Costa Blanca. Life has certainly been getting more expensive in the UK. House prices are still rising - up 1.5 per cent on a year ago, according to the latest data from property website Zoopla.
Inflation remains stubbornly high and last week's news that energy bills will rise by £221 a year in July came as the latest blow to household finances. Workers also face a high tax burden on any income they make. Moving to Europe, even post Brexit, is not as expensive or as difficult as many assume. France, Spain and Portugal have long been firm favourites for Britons seeking a cheaper and sunnier life abroad.
In these three, UK pensioners can use an S1 certificate (available free from the NHS) to access heavily subsidised local state healthcare on the same basis as locals. In the past five years, a whole network of hand-holding companies has sprung up to advise on the paperwork and taxation involved in a relocation.
So if you want to embrace a Mediterranean lifestyle - and get more house for your money - here's everything you need to know to set up a new life in France, Spain or Portugal, from visas to tax systems. Spain Offering cheap property and Anglo-friendly seaside resorts, Spain remains the top retirement choice for the British.
More than 100,000 UK state pensions are paid to expats in Spain, according to the Office for National Statistics, with Valencia and Andalusia the most popular regions. Post Brexit, UK nationals are still the biggest group of foreign buyers in Spain, according to the latest figures, despite having fallen slightly this year.
Property prices are going up across Spain, but your money still goes a long way in locations such as Alicante in Costa Blanca, which is home to the largest number of British residents in any province in Spain. In Calpe you can find a four-bedroom villa with private pool for €445,000 (£385,500).
You'll get a townhouse on the southern end of Costa Blanca for less than €200,000 (£173,000), or a three-bedroom villa with a pool in the buzzy resort of Ciudad Quesada for €475,000 (£411,500). For more authentic charm, the small town of Benijofar nearby has become incredibly popular for buyers relocating, according to the estate agent MASA International.
Retirees tend to gravitate to locations ten to 15 minutes inland - as Benijofar is - to avoid being in the seaside resorts but still near towns, golf courses, supermarkets and other facilities. The key is to experience areas at different times of year, as somewhere that appears attractive in the height of summer may feel very different in winter.
Gran Alacant, south of Alicante, has long been overlooked but is great for easy access to the airport and the city's vibrant restaurant scene. Those seeking extra value are looking to Murcia, further inland, at towns such as Los Alcazares on the Mar Menor, where you can find a two-bedroom townhouse for €169,900 (£147,200).
Prices are higher on the Costa del Sol, especially around the expensive 'Golden Mile' near Marbella, but areas to the west such as Estepona and La Duquesa offer better value and are on the up - a large two-bedroom apartment on La Duquesa is for sale at €269,000 (£233,000). Spain's Left-wing politicians have repeatedly attempted to curb the number of overseas buyers and expats flocking to its shores.
In February, nationalists in the Balearic Islands tried to ban Britons from buying a second home or retirement property on the popular islands of Majorca, Menorca and Ibiza. The proposals were rejected, but they were the latest in a long series of anti-tourism measures.
You need to budget for 10 to 14 per cent purchase costs in Spain, but if you want to get a mortgage, fixed-rate deals are only 2.5 to 3.5 per cent, plus the buying process is quicker than the UK - usually six to ten weeks. Purchase taxes vary by region, as do levels of inheritance tax. You must also use a good lawyer to check any issues around illegal extensions or changes made to the property
Spain Relocation UK Expats Europe Retirement Abroad Property Prices Spain Cost Of Living UK S1 Certificate Healthcare Portugal France Spain Brexit Moving Abroad Mediterranean Lifestyle
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