The dream of living overseas, waking up next to the soft sounds of the sea is one that is held by many Britons. Whether retiring in another country, or simply taking a few years out of the UK to see how the other half live, it seems that a large number of people share this goal.
Indeed, many foreign property investors are snapping up homes overseas in countries such as Spain Holiday Home and France Holiday Home in order to make sure they have a nest egg and somewhere idyllic to spend their twilight years, along with the income it can provide them in earlier life.
New research has found that those who harbour dreams if living and working outside of the UK are making a concerted effort to make them a reality when the time to retire comes along – even if they did not fulfil them in their younger days. According to a survey by savings provider Bradford & Bingley, almost six in ten of the people who own properties overseas are over the age of 55.
The data found that many of these people are now succeeding in lifetime ambitions, with the people surveyed stating that their biggest regrets in life revolved around the fact that the overwhelming majority of it was spent within the confines of the UK.
18 per cent of the respondents said they wished they had lived or worked overseas during their lives, while 48 per cent were sad to not have travelled more. Evidently this could be another lure for property investors with diverse portfolios – a home in many locations around the world could be a great way to enjoy holidays at any time with ease.
Paul Whitlock, head of savings at Bradford & Bingley, said: “It appears many over-55s do have something they regret, but in most cases it is not too late to do something about it.
“Putting money aside and making it work for them means they are one step closer to realising their dreams, whether this be travel to exciting destinations or making a more permanent move abroad.”
And the company noted: “Baby Boomers of the 50s are shunning a pipe and slippers retirement and looking towards a more sun and fun-filled time.”
Meanwhile, data from foreign currency specialist HiFX found that France and Spain are two of the countries that Britons will find little trouble moving into. The locations were identified as being among the least stressful places into which people from the UK can integrate.