Old aged Brits emigrate abroad

According to research one-in-twelve British pensioners is now living abroad, escaping rising living costs at home.

Saga, the popular over-50 brand, has said that retiring abroad has become a more serious consideration for British pensioners as living costs rise in this country.

Further predictions, from the Institute for Public Policy Research, have estimated that more than 3.3 million British pensioners will be living overseas by 2050, a huge increase from the 252,000 British pensioners who lived abroad in 1981.

Lisa Harris, spokesperson for Saga Travel Money, said that it has become a growing trend: "The dream of retiring abroad has clearly become more realistic.

"Many people sell houses in the UK and downsize at retirement …which gives them the funds they require to buy a property abroad."

A recent poll by Hotproperty.co.uk found that 47 per cent of Brits would rather emigrate upon retirement than stay in the UK.

Overseas Property News posted on 20/06/2008 16:28:35