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 | Cumbria Times A Voice of the Free Press |
3:00 AM 9th April 2022
lifestyle
Surge In Searches For Retirement Locations Abroad
Algarve, Portugal - image / pixabay
Equity release experts Sovereign Boss has looked at Google search data to determine exactly where we want to retire.
| Search term | Monthly Search Volume | Search volume increase |
| Retirement in Portugal | 4,585 | +236% from last year |
| Retirement in Italy | 1,744 | +198% from last year |
| Retirement in France | 1,654 | +123% from last year |
| Retirement in Spain | 987 | +93% from last year |
| Retirement in Germany | 364 | +87% from last year |
It seems we’re longing for some Portuguese sun, with Portugal actually being one of the cheapest places to retire with coastal apartments in the Algarve from £115,000 but If you’re willing to move inland you could pay as little as £103,000 for a 3 bedroom apartment in Vila de Rei.
As well as Google search data, Sovereign Boss surveyed 1000 people aged 50+ and asked them out of the above locations, where they’d choose to retire over the UK. 36% of those surveyed, chose Portugal.
It's also worth noting, that:
"A will made in the UK may not deal with assets in a different country in the way that you wish. This is because of the different local laws. It’s important to make a will in each of the countries where you have assets.
Obtain independent legal advice about inheritance laws and wills. In the UK, you can choose a solicitor through organisations such as the Citizens Advice Bureau and the Law Society."
"A will made in the UK may not deal with assets in a different country in the way that you wish. This is because of the different local laws. It’s important to make a will in each of the countries where you have assets.
Obtain independent legal advice about inheritance laws and wills. In the UK, you can choose a solicitor through organisations such as the Citizens Advice Bureau and the Law Society."
Research done by https://sovereignboss.co.uk/equity-release-with-mortgage/