The future’s bright as Spain attracts British retirees and German second home buyers

Spain’s popularity as a retirement destination for Brits continues a pace as the Iberian nation takes the top spot for British retirees according to a study by annuity provider MGM Advantage.

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Spain’s popularity as a retirement destination for Brits continues a pace as the Iberian nation takes the top spot for British retirees according to a study by annuity provider MGM Advantage.

Despite the Eurozone crisis, Spain continues to dominate as the destination of choice with France, Ireland, Cyprus and Australia also making it into the top five.

Marc Pritchard, Sales and Marketing Manager of leading Spanish house builder, Taylor Wimpey España comments,

“Spain has been voted the number one retirement destination on a number of occasions and it’s easy to see why. Certainly the weather is a major factor in people’s decision making, who wouldn’t want to live out their golden days basking in glorious sunshine? Health too is without a doubt of great importance to this age group and Spain has an excellent healthcare system, although many overseas residents choose private healthcare to skip the queues. With an average life expectancy in Spain of over 81 years of age, they must be doing something right!”

Whilst it cannot be denied that Spain, like the rest of the world, has been hit hard by the global recession and house prices have declined but with the strength of sterling against the euro this has presented lucrative opportunities for British buyers today to purchase their ideal home in Spain for less.

It is however not just Spain’s most loyal holiday makers, the Brits who are buying second homes, German’s are beginning to re-enter the market with Pritchard commenting:

“Germans have a long history of buying Spanish property. At one stage there was a dip but now this trend is reversing as Germans begin to invest in the nation once again especially on Mallorca. We’ve actually seen a 28.6% increase in sales from German buyers between January and July this year over the same period in 2011!”

With this in mind, Mr and Mrs Haase from Brandenburg, Germany purchased a 2 bedroom, 2 bathroom apartment with terrace, garden, large pool and direct sea access at Taylor Wimpey España’s biggest success story of the year – Cala Anguila, Mallorca and are completely happy with their purchase.

“The reason we chose Mallorca was because not only is it an EU country, close to Germany – just 2 hours flying time but it has a very good climate where we can get some sun and relax. Something a little hard to do in Germany! Some people might wonder if we’ve been put off by the current economic climate in Spain but for us, buying property here was more about the lifestyle Spain affords than anything else.

“We were very happy with the service we received from Taylor Wimpey España – they took very good care of us and our German representative was extremely competent and trustworthy.”

For house-hunters like Mr. & Mrs. Haase, looking for high quality affordable property suitable for family living, Taylor Wimpey España has some excellent properties on offer in Spain at only 4% VAT until the end 2012, for example Cala Magrana III.

Cala Magrana III (in Porto Cristo, Mallorca) from Taylor Wimpey

2 bedroom / 2 bathroom apartments. Direct access to the sea within 50 metres, 500 metres to the nearest sandy beach (pictured below). Large communal swimming pool with terrace and gardens. Private outside parking spaces. Taylor Wimpey quality build and finishes, with the option to personalise your property.

Take advantage of being one of the first to know!

Prices from 199.500 €

+ More information from Taylor Wimpey

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About Mark Stücklin

Mark Stücklin is a Barcelona-based property market analyst and consultant, and author of the 'Spanish Property Doctor' column in the Sunday Times (2005 - 2008). He can be reached by email on ms@spanishpropertyinsight.com.