With more and more Brits wanting to move to Spain, here are a few things you may want to know
Moving to Spain can be an exciting thought but there are numerous things you should be prepared for. Spain continues to be one of the most attractive European destinations for British families and retirees.
According to government figures, 69% of British citizens living in the EU live in Spain (37%).
Home ownership is 78% in Spain, higher than in the UK and well above the average across the EU. A large proportion of Spanish property is owned by foreign investors and this includes British expats, drawn by low interest rates in the coastal regions.
There are many positives about moving to Spain, including:
1. Competitively priced villa’s and apartments
2. The warm Mediterranean climate
3. Relaxation and slower pace of life
4. Lower cost of living compared with most of the UK
5. Eating out is cheaper
For those relocating to Spain from the UK and looking to rent, the rental market is very similar. Rental agreements in Spain don’t legally have to be put into writing but it is always advisable to do so.
Short term contracts (contrato de arrendamiento de temporada ), which can run up to a year, generally have less legal protections than longer-term contracts (arriendo de vivienda).
A three bedroomed studio apartment in the capital of Madrid will cost you in the region of €1578 (£1378) in the city centre.
A similar-sized apartment in the heart of Barcelona will set you back around £1495 (£1306) with prices declining the further outside of the city centre you venture.