Reasons for Purchasing Foreign Property
• Relocation for better climate and lifestyle – People may decide to relocate to a geographical location that better suits their lifestyle, income and circumstances. For example, in the UK a surprisingly high number of people emigrate to Spain because of it’s climate, relative low cost of living and the cheaper property prices.
• Purchase of a holiday home - This is mainly for those who have the resources to purchase a property in their favourite part of the world – somewhere they enjoy visiting, perhaps where they can laze away on the beach and enjoy the fruits of a completely different environment.
• For retirement reasons – Many retirees, especially, those living in the cold countries of north Europe, have been increasingly purchasing property in sunny countries with warm climates and nice beaches for retirement. Often, couples in their twilight years may find that their current life has changed dramatically. They may live in a large house (too large now the children are not longer living with them) and now wish for a slower pace of life, a better lifestyle or simply want to move in a different environment for health purposes. More elderly citizens relocate than is commonly thought. Note that according to projections, Europe will have nearly 100 million people in retirement age by 2015.
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