Older Brits still favour Iberian countries for retirement.
Iberian countries are still among the top destinations for retired or retiring Brits, this being due to rising equity which means property buyers have more money to spend say the experts. If the referendum vote turns out that the UK remains in the EU then it can be expected that there will be an increase in number enquiries almost immediately, many are waiting on the sidelines awaiting the result before making any move, with more than a quarter planning to retire to Spain and Portugal’s Algarve it is being named a top retirement destination.
Property specialists in Spain and Portugal says the area is set to benefit from increasing real estate investment from older Brits, as 80% of the UK’s wealth is held by the over 50s, according to a recent report.
The latest mortgage statistics published by the National Statistics Institute on Friday showed that the number of new mortgages constituted on homes listed in the property registers in Spain stood at 22,983 in March. This figure represents an increase of 14.5% over the same month of 2015.
To read more about the mortgage statistics click here
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