leemeakin

I want to retire to Spain in 10 years time but don’t know where to start looking.
I have £80k to buy somewhere. The less I spend the earlier I can retire.
Any suggestions?

tebo53

That's certainly an open question on a forum as everyone who is settled here in Spain will probably suggest their own area or town. I live in Benidorm and love it here although (understandably) not everyone's favourite place. So I'll kick off with Benidorm.

Steve

leemeakin

I don’t mind where I end up as long as I can find a decent social life and I can get by on £15k a year.
Would you recommend central Benidorm or it’s surrounding regions?

Lynn R

Do you know that now that the UK has left the EU, UK citizens wanting to move to Spain to live will be treated in the same way as all other third country nationals, and will have to apply for a visa from the Spanish Consulate in the UK before coming to Spain? If they are not planning to work in Spain (eg retired or early retired people) they will need what is called a non lucrative visa. As well as several other requirements including private health insurance with no co-payments or exclusions, they will need to show that they have an annual income of at least €26k per year for a single person, so your 15k per year would seem to falll some way short of that.

See pages 4-6 of this link for information in English about the non lucrative visa conditions from the Spanish Consulate in London.

http://www.exteriores.gob.es/Consula...ES%20ES-EN.pdf

Moses2013

Agree with other comment and everyone who enjoys their part of Spain can recommend it. We have a 2nd home in Selva Catalunya touching the Costa Brava and aren't retired. Being in the Rep of Ireland we also aren't affected by Brexit and as Lynn R mentioned this is something else to consider. 10 years is a long time and a lot can change, so I wouldn't rush into buying straight away. Prices in typical British areas can only drop and add Covid to that. Then again will the pound renain this strong, I don't know.

Dxf

Hola

You are thinking ahead too far; what is good today could be a nightmare in a couple of years time ( and Vica Versa) - Enjoy holidaying in Spain if that is your bag but I would not advise buying until you are nearly ready to move in permanently

Davexf

scot47

Why buy when you can rent ? At lkeast until you are sure that you want tpo live long-term. The desire to OWN property is a peculiar Anglo obsession !

dmu

Hi, is "I" just you? or will family be coming, too? This makes a difference as far as your well-being is concerned.
How is your Spanish? If you intend to retire there forever more, you've got several years to learn/improve it. Even if you move to an area with a big expat community, do you want your new-found neighbours to know all your private business when you go to the various Authorities, the bank, a medical consultation, etc...?
And as you'll be of a certain age, you should consider beforehand what you'll do when you can no longer live at home and/or do for yourself.
As suggested, why not rent until you're really sure that your retirement in Spain is for you? If you purchase property straight away, you must consider the inheritance implications for your next-of-kin.
I'm not being a prophet of doom, just a Senior observing that the older you get, the more you need help of some sort - those who were born in the adopted country have family to look after them, expats haven't....
HTH

leemeakin

Just me.
I’m 48 at the moment, and want to retire at 60, but will go earlier if I can afford it. How much could I get by on per year?
Just started learning Spanish.

dmu

Some one on the Spain forum will be able to advise better than me (I live in France, but a lot of advice is universal). £15k per year would put you on level with the "precarity" threshold in France, which wouldn't make for a comfortable life after you've paid all the essentials - utilities, internet, insurances, healthcare costs (if you aren't in the Spanish System), car costs if you've got one, otherwise transport costs, etc... and food, unexpected repairs, new clothes, etc... Not much left for making friends and a social life, travelling, ... "Natives" living on this income usually have family to help out financially...
But you've got time to think about all this, and get a good level of Spanish before the time comes!

Lynn R

From now on, it doesn't really matter whether an individual can or can't "get by" on an income of 15k per year. The requirements to obtain a non lucrative visa (without which a non working third country national cannot legally live in Spain) include a minimum income of €26k per year (and that was a 2020 figure, it will increase each year with increases to the IPREM figure).

With regard to healthcare, the OP would need to have private health insurance with no co-payments or exclusions for at least the first year of residence. Currently, after one year of legal residence (ie with a visa now that the UK has left the EU), he could pay into the Spanish public health system by way of the Convenio Especial. That currently costs €60 per month for someone aged under 65 but rises to €157 per month for someone aged 65 or over, but does not include the cost of any medications for which he would need to pay the full price (not subsidised). As he would be moving to Spain after 1st January 2021 the UK Government would no longer issue him with an S1 form to cover the cost of Spanish public healthcare once he starts to receive a UK state pension.

duztee

Planning ahead is one thing, 10 years in advance is something else, Nostradamus!
But Hey! it's your life so what ever fills your time and keeps you happy.
But why set such tight limits? I love Spain but on a tight budget there are much better options to consider, if you want to stay in Europe I would look to the East for cheap options with the same climate as Spain.

Lou71

Relocating to an EU state is much, much more difficult and complicated for UK nationals now thanks to the loss of freedom of movement and many people will no longer qualify.

The minimum income requirement for third country nationals is considerably lower in Portugal so it's worth considering.

Moses2013

The problem is that on a tight budget (buying property like the OP) there aren't that many places for those who wanted a Costa Blanca sort of living with direct beach access, a long promenade, good healthcare and warmer/dry winters, or let's say Britain in the sun like it often is. Be it Greece, Croatia, very expensive near the more developed parts. Then Montenegro, Albania, Bulgaria or maybe even Moldova can offer something but the bigger downside is the climate for those who expected Costa Blanca and still the visa situation. Winters can be a lot colder in some of the mentioned countries and if it's warmer you can even get 300+% more rain with less sunshine during winter if you compare a place like Vlöre with Alicante.

scrubbedexpat142

I don't know if Hungary intends to introduce a minimum income (Duztee, do you know?) but as things stood last year 15K p.a would do you well in Hungary. You won't quite get the climate you would prefer but, outside of Budapest city, 80K at present rates could also work well.

Somewhere outside the city centre, on or near the river, might be good?