Comprehensive Guide for Retirees: How to Choose the Perfect Home in Spain

Spain is a popular destination among retirees thanks to its comfortable climate, affordable cost of living, and high-quality healthcare. This article will help clarify the main issues that concern retirees planning to move to Spain.

Why is Spain attractive for retirees?

Spain offers a range of benefits for retirement living:

• Mediterranean climate. Winters are warm and summers moderately hot, which is ideal for the health of older adults.
• Low property prices. Housing in Spain is 30–40% cheaper than in the USA or the United Kingdom.
• High-quality healthcare. Spain’s healthcare system is among the best in Europe.
• Affordable cost of living. Everyday expenses are significantly lower compared to other EU countries and the USA.

Choosing a region: Where is it best for retirees to live in Spain?

Costa del Sol

Costa del Sol is especially popular among retirees who prefer an active lifestyle. The main cities in the region are Malaga and Marbella. Malaga features well-developed infrastructure and a calm way of life, while Marbella is ideal for those seeking luxury housing and comfort.

Costa Blanca

Costa Blanca offers a less hectic lifestyle compared to Costa del Sol. Cities such as Alicante and Altea are popular here. The region attracts retirees with its affordable prices and relaxed pace of life.

The Canary Islands

The Canary Islands are suitable for retirees who value a stable climate, active recreation, and accessible healthcare. The cost of living here is lower than on the mainland.

How much does it cost for a retiree to live in Spain?

The average expenses for a retiree in Spain are approximately 1600–1800 euros per month, including utilities, food, and entertainment. For example:

• Utilities (85 m²) — around 130 euros per month.
• Lunch at a café — approximately 12–15 euros.
• Mobile phone and internet — 20–30 euros.

Healthcare and insurance for retirees

Retirees with resident status in Spain can use public healthcare. However, citizens from non-EU countries should purchase a private medical insurance, which costs from 800 euros per year and covers most services.

How to obtain a residence permit (ВНЖ) in Spain for retirees?

Retirees can apply for several types of residence permits depending on their goals:

• Residence permit without the right to work — an ideal option for retirees as it does not require employment.
• Golden Visa — granted with investments of at least 500,000 euros in Spanish real estate.

The processing time for residence permit applications is usually about three months.

Taxes for retirees in Spain

Foreign retirees become tax residents in Spain if they spend more than 183 days per year in the country. Private pensions are taxed according to Spanish law, while public pensions are taxed in the country of receipt if there is a Double Taxation Agreement (DTA).

Purchasing property in Spain: Important Points

When buying property in Spain, retirees should consider the following aspects:

• It is essential to obtain the NIE (Número de Identificación de Extranjero).
• Opening a local bank account is necessary for paying utilities and taxes.
• It is recommended to hire a lawyer to verify the property before purchase.
• Purchasing property involves additional costs (taxes, notary fees, registration), usually around 10–12% of the property price.

Advice for Retirees Moving to Spain

• Before moving, it is advisable to learn some basic Spanish phrases.
• Join expat communities to ease the adaptation process.
• Address issues related to medical insurance and taxation in advance.
• Consult with a lawyer regarding inheritance matters and draft a will.

Conclusion

Spain provides retirees with the conditions for a comfortable and affordable life. The choice of region depends on personal preferences and financial capabilities. Following legal procedures and carefully selecting a home will help avoid unnecessary problems and allow one to enjoy life in a new country.