Spain has always been a favourite retirement location, and with good reason. Why retire to Spain? The country has a sunny climate, wonderful food, a rich culture, and a laid-back way of life. Aside from these obvious draws, there are other practical advantages to retirement in Spain.

Weather

We realise this is a no-brainer, but it’s difficult to resist the allure of 320 days on average of sunlight every year and seldom any days below 20C. This can be a major motivator for many considering retiring in Spain, particularly if it means escaping the erratic, rainy weather in the UK.

The days of tripping over ice, getting caught in an unexpected downpour, or never knowing if you should always carry an umbrella are long gone! Rain showers do occasionally occur in Spain, but they are usually brief and well-predicted.

Health benefits

It’s no secret that warmth and sunshine improve mood, complexion, and general well-being, but did you also know that the climate in Spain offers even more remarkable health benefits of its own?

The World Health Organisation has referred to Spain’s climate as “as near-perfect an environment as it is possible to obtain.” This has resulted in a staggering number of situations where people over 60 who relocated to Spain discovered that their asthma and arthritic problems had decreased, if not vanished!

Furthermore, the increased vitamin D that your skin receives from the Spanish sunshine may help reduce your risk of developing cancer, heart disease, chronic pain, and mental health disorders. Additionally, with the breathtaking landscape, sporting facilities, and touring,.

Excellent transport infrastructure

Traveling throughout Spain is simple because of the country’s cutting-edge, effective transportation infrastructure. Major cities are connected by high-speed trains, and there is also a network of regional trains and buses. Additionally, there are many airports, which facilitate simple travel around Europe and the rest of the world.

Lower property prices

The affordable home costs in Spain might be a major motivator for people wishing to retire there. It’s no secret that a lot of individuals in the UK struggle to make ends meet, especially in light of the yearly tax rises that are all but guaranteed.

You might be shocked at the kind of real estate you can afford in Spain. While you might only be able to find a one- or two-bedroom flat in many UK counties, you might be able to find a bungalow, townhouse, or even a villa in places like Costa Blanca or Murcia!

Reduced living costs

The average household retiring in Spain will benefit from lower annual living costs in addition to the cheap prices of real estate. Spain has one of the lowest costs of living in all of Western Europe.

Similar to the beef, there is always an abundance of “in season” fruit and vegetables that can be purchased at a reasonable price due to the mild temperature. Eating properly while on a very tight budget is totally doable. Even if you’d rather eat out, you may spend as little as €30 on a fantastic dinner for two people and wine if you know where to look!

As a result of Spain’s recent widespread use of exceptionally high eco-friendly building standards, you may likewise anticipate seeing

Finances in Spain

If you are purchasing or renting a property in Spain, you will need to convert your home currency to euros. If you have a pension in a country that does not use the euro, you will also need a way of converting it.

The majority of people will use their bank to convert these funds, thinking they are getting a great deal! However, once they look into the exchange rate and the fees they are charged, this is not the case. Which is why it’s best to use an international payment specialist like Regency FX.

When retiring to Spain, Regency FX can help you save money in a number of ways.

Exchange of currencies:  Competitive prices: When it comes to major transactions, like moving your retirement money, brokers frequently provide better exchange rates than banks. If you compare this to using your bank, you may save thousands of euros.

Forward contracts: lock in an exchange rate for up to 2 years in advance. Forward contracts are a great way of protecting yourself against negative exchange rate movements. They are most commonly used for property purchases, as they help you stay in control of your budget and stop your costs from spiralling out of control.

Limit orders: You can place an order with a bank or currency broker to purchase or sell a certain quantity of currency at a particular exchange rate, known as a foreign currency limit order. It allows you to have more control over your currency exchange than if you just used the going rate.

If you have any questions or would like to request a free, no-obligation currency consultation, the team at Regency FX would love to hear from you.