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Favourite retirement destinations in Spain

Jordan Wilkinson 7th Jul 2022 No Comments

Reading Time: 3 minutes

According to the latest study by the National Statistics Institute, there are more than 5 million foreigners living in Spain, 40% of whom are retired and have decided to start a second life on the Spanish mainland. Many of them have opted to apply for the Spanish Non Lucrative Visa and have their second home near the Mediterranean Sea.  

The global visa paradigm is changing and there is more and more new information. Spanish legislation is changing and, sometimes, expert help is needed to carry out the procedures. For this reason, Pellicer & Heredia, international lawyers, have positioned themselves as a reference in International Law on the Costa Blanca, offering 20 years of experience to foreigners living in Spain or intending to settle in the country. 

The Global Retirement Index positions Spain as one of the best destinations for retirees. In fact, 63% of citizens think that this country is good for aging because the cost of living is more affordable than other European countries. 

When it comes to retirement, what foreigners value most when settling in a city are good infrastructure and services, followed by the distance they have from their loved ones and the tranquility or climate of the place. 

The city of Gaudí: Barcelona

The capital of Catalonia is Spain’s favorite retirement destination. The city is home to more than 350,000 foreign residents. The capital of modernism offers a wide variety of cultural activities such as concerts or theatre performances, to monuments such as the Sagrada Familia that make it unique in the country. 

Moreover, its geographical location in the heart of the Mediterranean Sea, makes it a city where land and water come together to offer different activities to people who wish to retire. 

People who decide to start a second life in Barcelona choose it for the possibility of having good infrastructures and services. 

The district of Motbau, on the outskirts of the city, has the necessary facilities. for retired people to rest: hospitals, markets. Moreover, the rent in this area is not too expensive compared to other areas of the city. 

Madrid’s Gran Via

Like Barcelona, the Spanish capital offers infrastructures and services that make it a reference city for retirement in Spain. The city is home to more than 1,000,000 foreign residents, being the Spanish city with the largest foreign population.   

Madrid is a city not to be bored, which makes it ideal for retired people. You can go on excursions to nearby towns or enjoy a musical in the heart of Gran Vía. What’s more, it has gastronomy from all over Spain and the world. 

In Aluche, a neighbourhood in the capital, is the area where retired people retire as it has the peace and quiet and basic services necessary for day-to-day life: chemists, groceries, hospitals, etc.  

The Mediterranean Balcony: Benidorm

Without a doubt, one of the favorite destinations to retire and enjoy the sea is Benidorm. Close to Alicante, it has all the necessary elements to be a perfect city for a second life of tranquility. 

Its skyscrapers make it a Spanish New York offering good weather all year round and close to the most visited places in the province of Alicante.  

The province of Alicante registers more than 370,000 foreign inhabitants, with those from the United Kingdom being the ones who most choose to live in Alicante’s paradise.   

Art and culture: Málaga

Andalusia is art and gastronomy. It is culture and tradition. It is one of the favorite places for foreigners to retire. In fact, Malaga occupies the podium of Spanish cities with the highest number of foreign retirees. 

16% of the population of the province of Malaga is foreign. The climate and the tranquility of the coast make it a reference destination. Nerja and Torremolinos are the places to settle on the Costa del Sol. 

You will feel the connection with the sea while doing sports on the beach. In addition, the city offers educational activities and handicrafts for foreign residents.  

Disclaimer: MoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence.

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Jasmine Birtles

Your money-making expert. Financial journalist, TV and radio personality.

Jasmine Birtles

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