Retirees urged to get professional advice
People who are planning to spend their retirement years overseas have been encouraged to seek out professional advice.
ShelterOffshore.com said a large number of British retirees are continuing to pack their bags and set up home in countries such as Spain.
However, it stated that these people need to be aware of issues such as how much money they will be required to pay in tax, as well as the likely size of their daily outgoings.
Therefore, it has recommended that people consult a professional if they wish to find out whether relocating to Spain is affordable.
ShelterOffshore.com said: "Determine if you can afford to retire to Spain and reside in the manner to which you would like to become accustomed."
The website added that Spain is currently one of the most popular overseas destinations for British retirees.
This was largely attributed to its year-round sunshine, as well as its relaxed lifestyle and relatively low cost of living.
According to the Association of International Property Professionals, Spain is still the most popular foreign market among British property buyers.
The country was said to account for more than a quarter of the overseas property market in 2007.
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