Best Retirement Areas

Retire in Spain

Retiring in Spain is an increasingly popular option for many expats looking for a retirement that combines first-world European luxuries and charms with the sun and sand of Spain's famous beaches.

Healthcare in Spain

Unlike 25 years ago, there is no shortage of good hospitals and private clinics along the southern Costas. However, costs for private health insurance vary enormously—though you're likely to find it far less expensive than at home, which is a big draw for many who are considering a retirement in Spain. Comprehensive policies for people 55 to 60 years old go from $860 annually up to $2,000. A routine visit to a private doctor is normally $35 to $55; home visits are from around $50 to $110, depending on whether it's day or night. The cost of a bed in a private hospital is in the region of $135 per day. Include doctor fees and you can reckon on about $275 per day for the duration of any stay. State health care is considered good and available for free or at reduced costs. However, you must be contributing to Spanish Social Security or be receiving a state pension from another EU country to benefit.

Capital gains exemption

Over-65s are exempt from capital gains tax on the sale of their home if it's their primary residence. Otherwise residents are taxed at 20%; non-residents at 18%. To ensure the tax is paid, Spanish law requires that you pay 5% of the total purchase price directly to the tax agency if you're a non-resident. So, only 95% of the selling price goes into the vendor's bank account. If the tax turns out to be less than this deposit, the balance can be reclaimed.

Spain is one of the best retirement areas - learn about more beautiful retirement areas