Advice on buying on the Med

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This topic contains 2 replies, has 3 voices, and was last updated by Profile photo of Anonymous Anonymous 2 years, 10 months ago.

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  • #57886
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi. My first posting so I’m just feeling my way.

    I’ve recently retired in the UK and am interested in buying a retirement place on the Med – but am looking to understand the pros and cons of Spain as opposed to Portugal, France, Italy etc. I’m after sunshine but need to be close to other expats because of language and sports like golf, football, dining out etc. I don’t have a specific preference to Spain and am open to suggestions to other warm parts. Any help appreciated. Cheers!

  • #118958
    Profile photo of Anonymous
    Anonymous
    Participant

    Pentatonic, it’s a complicated question to answer.

    For large expat communities and reliable sunshine in Europe, then Spain is number one. However, the cost of living has become stupidly expensive for Spain, and taxes on buyers are insane. On the other hand, it’s a nice country to live in and the real estate crash has brought down prices enough for bargains to be possible (if you do your homework). So there’s arguments for an against. It really depends on your priorities.

  • #119015
    Profile photo of Anonymous
    Anonymous
    Participant

    I think you need to look carefully into whether you are going to remain fiscally resident in the UK and the implications in the country you choose if you do otherwise as there are differences but you can mitigate some of the disadvantages of some options if you research carefully and there is stacks of information in previous posts about issues in Spain like Inheritance tax and CGT .Also to find a good lawyer and never to pay any cash to an estate agent without a contract ,

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