Weak euro encourages brits to retire in spain

Benidorm, Costa Blanca Photo: PhillipC

The favourable exchange rate means that in mid-May 2015 a €100,000 property in the Costa Blanca costs a UK buyer approximately £10,000 less than it did the same time in 2014. For investors and bargain hunters, sterling's strength has helped to boost overseas sales in Spain's most popular holiday haunts.

For expats receiving an income or pension from the UK, the stronger pound also increases their spending power in euros.

"Since the start of the year, we've seen a definite uplift in British buyers, in particular those moving out here, compared to 2014," says Kieran Byrne, MD of estate agency HomeEspaña. "And many decide to buy during their first visit here! The exchange rate is helping, but there is also a feeling that house prices have bottomed out, as revealed by recent statistics from both TINSA and Spain's Registrars that show prices have risen in coastal areas and larger cities since the start of the year."

One couple who found their retirement home with the help of HomeEspaña during their first trip to the Costa Blanca are Stuart and Jennifer Flairclough from Kent. They completed on a three-bedroom townhouse in Villamartin at the end of March 2015 and have plans to move there. Their new property, which cost them €143,315, including fees and taxes, overlooks the fairways at Villamartin Golf and also boasts views of the Mediterranean.

"It will be our permanent home and because of its size, we'll be able to accommodate our family and friends when they come over to visit," says Jennifer Fairclough. "We'd been researching the possibility of buying a retirement home in Spain for 12 so months. Although we've travelled extensively in Spain, we only knew the Costa Blanca area from internet research."

"We viewed the property twice on the same day, fell in love with it and decided to make an offer there and then, which was accepted," she adds.