Overseas property investment for Britons thinking of retirement 'is booming'
Britons are increasingly looking to invest in property abroad for retirement as the cost of both travel and private healthcare reduces, according to new claims from an impartial overseas property advice provider.
BuyAssociation said that it is not only the baby boomer generation that are looking for homes abroad - people in their 30s and 40s are have also shown a growing interest in overseas property for retirement planning.
Many people also see a home abroad as an investment for their children, with the numbers of buyers expected to go "up and up", the company said.
Paul Collins, overseas property editor for BuyAssociation, explained the appeal of retiring abroad by saying: "It is financially viable because the cost of living, even in areas which are really popular in Spain, is significantly less than it is in the UK. Not only can you buy a property cheaper, you'll also be able to live cheaper as well."
He added that many people choose to downsize the number of assets they own, since by the time they retire there is little need for a larger family home and the expense that goes with it.
A recent report from Banco Halifax Hispania revealed that nearly two-thirds of people wanting to move to Spain are aged under 55.
< Back to latest news