Everything You Need to Know About Retiring in Spain

More than 5.5 million foreign nationals are now living in Spain. This figure accounts for 12 percent of its population.

If you're considering retiring in Spain, you're not alone.

This European nation is a diverse country, and it attracts thousands of retirees because of its quality of life. With good weather, beautiful beaches, and a great health care system, where else would you opt to retire?

But before making your decision, you need to learn more about how to retire in Spain.

Keep on reading to learn more.

Moving to Spain

As of 2018, the UK and Spain are still members of the EU. Even with the Brexit fears, the process of moving to Spain is still fairly simple for now. However, things are expected to become slightly more complicated once Brexit concludes.

If you're planning to stay for more than three months, you need to register at the Oficina de Extranjeros (Foreign office) in the province you wish to stay. This will give you a residence certificate.

After five years of permanent registration, you'll need to apply for a certificate of permanent residency.

Best Places to Retire in Spain

The areas that most retirees opt for include:

• Barcelona
• Madrid
• Valencia
• Malaga
• Granada

Barcelona and Madrid are great for those who want the attributes of a modern city. They boast world-class festivals, art, architecture, parks, and museums. Barcelona is the go-to city for the best nightlife in the country.

Malaga and Valencia offer a charm of old cities. They are both great tourist destinations, and they certainly make great home-away-from-home.

If you want a closer view of the Sierra Nevada mountains, then Granada makes the ideal place to live. You can enjoy snow sports during the winter and have fun on the beaches when summer comes.

Cost of Living

Living in Spain is cheaper than in the UK and other European countries. Madrid is the most expensive city to live in, with monthly rent ranging from 500EUR to 1000EUR. Outside the city centre, you can find one-bedroom apartments for rent costing between 200EUR to 500EUR.

Meals at restaurants range from 5EUR to 30EUR depending on what you eat. For transportation, you can get one ticket at 1.40EUR or a monthly pass at 45. Basic home utility cost can be about 113.50EUR for an 85m2 apartment.

In a typical month, you can expect to spend 1372EUR on basic needs.

Health Care System

Private healthcare is the most popular option for expat retirees. As a UK citizen, be sure to complete form S1, which you can use to obtain a medical card once you arrive in Spain.

Spain also offers a comprehensive and well-developed national healthcare system if you dread the long waits and high demand of public health services. Unlike other EU countries, Spain offers public health care to expats who are state-pensioners or self-employed.

You can also pay a monthly fee to access the state-run healthcare system if you're not covered through other means.

Retiring in Spain - The Takeaway

If you want to retire in Sapin, this post provides some of the details you need to consider when planning your move. The country offers low-cost homes, and you can enjoy a variety of food.

Are you considering retiring in Spain? We can help you find the right home of your dream.