Saturday, May 16, 2009
Will returnees reflate the bubble?
Times: The pain in Spain proves too much as expat Britons pack their bags
Now that the value of their pensions has fallen by 30% are we likely to see an influx of retirees from the Med coming back to Blighty and doing the rounds of the auctions, assuming that they can sell their dream home in the sun?
Posted by peeping tom @ 12:36 PM (1201 views) Add Comment
9 Comments
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1. new_order said...
To the residents of Costa Geriatrica - welcome back to concrete, crime, graffitti, traffic, rain, unemployment, high living costs, pollution, corruption, infected hospitals, disfunctional youth gangs and inequality across the entire social spectrum.
2. Landedgentry said...
@new_order
LOL LOL LOL
3. crunchy said...
So you thought you could escape these grey prison walls.
The crumbs you now have left now will only be wasted on the prison rats.
Goupcheqkue, get the chains!
4. peeping tom said...
Joking aside, Sterling devaluation means that Labour and its stooges in the BoE have been hoping for foreign investors to rescue the British property market and the Times is usually full of such articles. If you had managed to sell your house in Spain (and many won't be able to), you'd be in a strong position as a cash buyer to do the rounds of the auctions given that in Euro-denominated terms, prices have fallen here as much as in Spain - maybe more?
Incidentall,y I have no sympathy for those expatriates who never bothered to integrate into their host countries, especially those who couldn't be bothered learning the language. They should also never have taken it for granted that the pound/Euro exchange rate would always work in their favour.
5. happy mondays said...
Hola mon amigos...welcome to costalot
6. iguana said...
I have even seen one of the 'costa del crime' returnees, if crims are now finding southern Spain uncomfortable things must be bad.
7. gone-to-colombia said...
I do not begrudge people who look for their better life in Spain on other countries, good luck to them.
The expat communities around the world provide some excellent services to the countries where they are based.
Most expats are hard working and often more adventurous than most that stay at home.
Having said all that, now is the time to be away, those returning must be desperate.
I have no intention of leaving where I am, it's hot, safe, got great sailing and easy to live well.
Good luck Britain but it will take years for the country to emerge from the years of property madness and debt.
8. drewster said...
I agree with gone-to-columbia, there's nothing wrong with trying to make a better life for yourself either at home or abroad. Sometimes we Brits are too keen to mock those who have tried and failed, rather than encouraging the effort.
In particular, I'm quite happy for pensionners to move to Spain. It's no worse than retiring to Dorset or Devon, and it reduces demand for property in retirement hot-spots in the UK.
9. a saver said...
Gone-to-columbia, agree with you. My son is off to Costa Rica for a few months (volunteer on conservation project) and I wouldn't be living here if not for him. Having lived and worked abroad for decades, I find the UK is the least appealing place to live ever. Unless you are from some third-world country and want to nab yourself a house and benefits, in which case you would think it was too good to be true.