Spain has long been the favourite destination for British foreigners seeking an idyllic retirement under the sun. According to census records, as of 2023, approximately 293,171 British citizens of Spain were Spanish residents.
With areas such as Trox and Malaga boasting about 300 days each year, the country's desirable climate provides an attractive environment for those seeking warmth and sunlight. But when you start a new lifeaccording to Idealista.com, a Spanish real estate search engine, some places are better for foreigners than others. Real estate professionals rank the five best locations in Spain for retirement, taking into account a variety of important features, including cost and quality of life.
Costa de Azahal
The lesser known Costa del Azahal has been translated into the orange flower Coast and is a hidden gem of the state of Casterone. With its exquisite sandy beaches and secluded coves, it is suitable for those who want to live in the sea.
Costa de Azahal is more modest, but Valencia's bustling city is only an hour's drive away and offers a good mix of city life. According to Spanish real estate experts, the area is a welcoming hub for English-speaking foreigners and offers an affordable lifestyle for retirees.
Important cities of interest include Benicarló, Peñíscola, Torreblanca, La Llosa, Benicasim and Oropesa. In terms of home prices, the increase in demand for coastal living has led to increased prices, and according to the Spanish Bureau of Statistics, 15% of home transactions in Casterone in 2023 came from foreign buyers.
In December 2024, the average price of a home for sale in Casterone was 1,246 euros per square meter, an increase of 7.23% compared to March 2024 (1,162 euros per square meter).
Bilbao
In northern Spain, there is Bilbao, another retired hotspot in the Basque country. Due to its low standard of living and crime rate, Bilbao is perfect for those who want more than beachside relaxation. The city offers a mild summer without the heat of the south and the heat of the Mediterranean coast.
Compared to other major Spanish cities, Bilbao is in the middle of affordability. It's not as expensive as Madrid or Barcelona, but not as economic as other inland cities. Homes are the biggest expense for residents, and prices vary widely depending on the neighborhood and the type of property.
Bilbao, the 10th largest city in the country, boasts one of the best health care systems. Coupled with the growth of the English-speaking community, this is a great option for the retirement of Spain, of course.
According to the latest statistical data, the average home price in the Basque country is 3,240 euros per square meter.
Costa del Sol
Costa del Sol is a major tourist hotspot in Spain, especially for visitors from the UK, and a hot topic for foreigners.
It is ranked one of the best seaside retirement locations in the country, with over 1.3 million residents, including foreigners and large English communities.
This beautiful area spans the entire Malaga region, from the gorgeous Puerto Banus in Marbella to the vibrant beaches of Nerja, Benalmadena and Fuengirola.
The Costa del Sol is perfect for those looking for an active and dynamic lifestyle. This makes it particularly popular among golf enthusiasts. It is also known for its reputation as home to some of the top golf courses in Spain and Europe.
Small towns and villages are perfect for retirees, with the most popular being Benalmadena, Mijas, Torremolino and Fuengirola.
In January 2024, the average price of a house for sale was the cheapest in Malaga (average 2,687 euros per square meter) compared to Nerja, Fuengirola and Marbella.
Madrid
A study by British real estate company Audrey Village ranks Madrid as one of the leading places to retire in Spain thanks to its quality living. Perfect for those looking to get away from the coast, Madrid boasts excellent transport, a rich culture and a large English-speaking community.
According to Idealist.com, Madrid has the highest average life expectancy in Spain, with residents living up to the average age of 84. Furthermore, Madrid has one of the longest retirement ranges in Europe with an average of 22 years.
According to international life, hospitals and clinics are all over Madrid, so you won't have more than 15 minutes from your doctor.
Lonely Planet reports that the city doesn't feel more desperate than others as Madrid people known as “Madrileños” are constantly bringing life at their own pace.
Madrid itself can be an expensive place to live, but exploring areas outside the nearby city centre, such as Andalusian cities such as Seville and Granada, or areas such as Extra Doula and Murcia, can offer more affordable retirement asset options. For those preparing for urban life, idealist real estate professionals propose budgets of 2,000 to 2,200 euros per month (24,000 to 26,400 euros per year) to live a comfortable lifestyle.
