Retirees opt for property in France and Spain
As the credit crunch is hitting homeowners hard, retirees are looking to move abroad to enjoy better weather and relatively low property prices.
According to retirement specialists Saga, Spain and France respectively are the top two overseas property destinations of choice for the older generation.
Lisa Harris, spokeswoman for Saga Travel Money, explained the reasons why people choose to retire overseas. She said: "Climate and health obviously play a large part in this and whilst many people are leaving behind lots of friends and family, communities abroad develop quickly and in most areas the locals are more than happy to give a warm welcome to new residents."
For the price-conscious retiree, "less likely destinations" are starting to have more appeal. Ms Harris explained that Bulgaria's popularity is "probably driven by the fact that they have recently joined the EU and house prices, whilst rising, are still extremely low so it's still possible to get a bargain".
Research from the Institute for Public Policy Research carried out in 2006, revealed that "more than 3.3 million British pensioners will be living overseas by 2050".
Overseas Property News posted on 25/06/2008 16:16:11
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