More People Planning to Retire Abroad

New statistics show rising numbers of people planning on retiring abroad. More people who are planning their retirement, are wanting to move abroad to live and enjoy a retirement in the sun, according to study by a holiday home insurance website.

New research has been carried out by showing 57% of people are more likely to retire moving abroad.

5 Top places outside the UK

Further study showed the top 5 most popular destinations when retiring:

  • New Zealand – Classified high for people gaining the most experiences.
  • Netherlands – Ranked high for quality of life, education and number one for job security.
  • Canary Islands – Quiet and peaceful. Off the coast of Spain, assured hot weather conditions. Beautiful surroundings.
  • France – Heavenly food and wine, pleasing weather, business friendly, beautiful locations, one of the most visited countries.
  • Canada – Rated by the UN as the world’s best country to live in, stunning views, friendly locals, incredible outdoor sights. High education; Canadian schools performed better than students from any other English speaking country.

Reasons identified why people want to retire abroad:

  • 61% said life seems a better pace of life.
  • 59% suggested the way of life is more affordable.
  • 47% exploring different types of food and drinks to try.
  • 38% of people said they wanted better weather.
  • 36% liked the idea of walks on the beach, mountain views and change of scenery.
  • 30% of Brits embracing new culture.

UK resident’s statistics living abroad and property prices

UK residents made 5.8 million visits abroad in May 2017. In 2015, according to United Nations, 1.2 million people retired overseas. 15% of British people specified the want of better quality of life, indicating the weather a key factor, and generally better costs and living standards.

During the period March to May 2017, there were 2% more visits abroad by UK residents. Spain is top of the list for people in the UK to retire to. Data collected in 2015 showed 310,000 people lived there. Ireland is second with 250,000 and France third with 190,000.

In comparison with UK’s and New Zealand’s house expenses, New Zealand’s prices rose up to 6% in the last couple of years. Whereas house prices in the UK rose slightly at a slower pace remaining close to 5%. Auckland, NZ is the country’s most expensive housing with an average price of $825,000 (NZ) £464,227 (GBP). London remains the most expensive place in the UK in which to own a property. The value of house prices in the capital increased by 2.9%.

The east of England saw growth in home values this year dated up to June at 7.2% following up by the east Midlands at 7.1%. House prices saw great rises from 2001 to 2007 at about 114% in New Zealand, house values continues to rise, but at a slower rate of the two countries.

Phil Schofield, Head of Inbound Marketing at Schofields said:

“Given the opportunity to settle across seas in scorching weather, relaxing by the pool and embracing new culture, it definitely ticks all the right boxes. I could predict the results would come back strong on the fact people still want to dream on retiring abroad. “

He continued: “It’s interesting to see the top five places to retire to as it can be unpredictable. These top places offer a good quality of life which seems to tie in with great weather and good food. ”

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