A survey of potential expats has revealed where Londoners most fancy spending their retirements.
Residents of the capital don’t fancy moving too far from home, though, as the top five location choices are all in continental Europe.
The overall favourite location was Spain (including the Balearic and Canary Islands), which led by a considerable distance. Nearly four in ten participants chose the classic holiday destination as their preference.
The poll was conducted by YourOverseasHome.com, and it asked those taking part where they’d like to settle down if money and logistics were no object.
Christopher Nye, senior content editor at Your Overseas Home said: ‘Retiring overseas has never been more popular. As 65 has become the new 50, people are realising that a move to a warmer, more relaxed lifestyle in the sun is an incredible opportunity for fun and adventure in later life.
Londoners’ top five dream retirement locations around the world:
Spain (incl. Balearic and Canary Islands) – 37.5%
Italy – 25%
France – 12.5%
Cyprus – 12.5%
Portugal – 12.5%
‘Post-Brexit procedures have been simplified, making a move abroad easy and cost-effective and a UK pension goes a lot further in most of our favourite overseas locations.
‘So we decided to see where exactly people were dreaming – or even planning – to move to in their retirement. Spain came out on top as the number one choice for nearly 40% of respondents in London.
‘It shows that exotic isn’t the biggest selling point. Spain has all the advantages of warmth, sunshine and lower cost of living, but it’s easy to reach all year and has an amazing social life waiting for you too, in its friendly expat communities.’
The poll’s results come after Jeremy Hunt announced a 10.1% rise in state pensions and a rise in the annual Pension allowance. But reports also forecast a long-term rise in the age of retirement, which could leave some of us working into our mid-70s.
So upping sticks and heading to the continent might take longer than we’d like!