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Spain is 'number one retirement home'

26 January 2009 10:03

Spain is 'number one retirement home'

Spain is still the number one destination targeted by retiring Brits, an industry expert has said.

Mark O'Sullivan, director of dealing at foreign exchange specialist Currencies Direct, believes that the abundance of expat communities and the range of things on offer to those that move there make Spain a highly sort after destination.

Research conducted by the company found six European destinations in the list of the top ten places Brits would choose to buy property in.

France lay behind Spain in second, with Portugal, Italy, Cyprus and Germany all achieving good results in April.

Mr O'Sullivan added that avoiding over-developed areas is the key to a finding a cheaper property.

Wherever Brits are looking to purchase a property they are advised to take out travel insurance to cover them, with an annual travel insurance property the better option for those intending to spend more time abroad.

Although Spain is seen to be the best place to buy a property abroad, recent research from TripAdvisor found Rhodes in Greece to be the highest rated destination of choice for travellers holidaying in Europe.ADNFCR-1320-ID-18593649-ADNFCR