British retirees 'moving to Spain'
Spain has been highlighted as the most popular overseas retirement destination for Britons.
The Global Property Group said that Spain was the favourite option among retirees, closely followed by Portugal and Italy.
However, the organisation specified that properties were not being bought for investment purposes and were being used for permanent relocation.
Mike Dunkerley, director of The Global Property Group, said: "Retirees are not buying to make money - they want a home for the next 10 or more years."
He added that some could be able to acquire a bargain if they took advantage of weak prices in some markets.
One emerging area in particular - Calabria in Italy - was said to be becoming increasingly popular, although Mr Dunkerley stated that most of the new properties being built there were holiday apartments.
According to the Office for National Statistics, over 55,000 British people are currently receiving their state pension in Spain.
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