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Why Marbella, Spain, Is A Prime Spot For Retirees Looking To Relocate Abroad

In recent years, more Americans have considered moving abroad, drawn by lower living costs, political stability, and a lifestyle upgrade. One of the standout locations gaining attention is Spain, particularly the Costa del Sol region near Marbella, as highlighted in William P. Barrett’s article for Forbes, The Best Places To Retire Abroad In 2024. The trend toward international retirement is growing rapidly, and Marbella is emerging as a top choice for those looking for a luxurious yet affordable place to retire.

 

1. The Appeal of Spain for American Retirees

Spain has always been an attractive destination for its rich culture, Mediterranean climate, and high quality of life. But in the context of retirement, the financial and lifestyle benefits are now taking center stage. Colleen Kennedy, a retired high school teacher from California, offers a perfect example of why Spain is becoming a prime spot for retirees. After conducting extensive research and visiting the Iberian Peninsula, she chose to move from Los Angeles to Mijas Costa, a scenic town near Marbella, just a short walk from the Mediterranean Sea. "My money will go so much further," Kennedy says, noting that her cost of living in Spain is about a third of what it was in LA .

Kennedy's move to Spain highlights a few key factors that make the country attractive:

1. Affordable Living: The cost of renting her Spanish apartment is half of what she paid in Los Angeles, and without the need for a car, her expenses are even lower.

2. Accessibility: Spain offers excellent public transportation and access to amenities like shops and restaurants within walking distance, making daily life more convenient and enjoyable.

3.Travel Opportunities: Living in Spain opens up the rest of Europe, with affordable train and flight options for frequent trips, allowing retirees to explore new cultures without breaking the bank.

 

2. Marbella: Luxury and Lifestyle on the Costa del Sol

Marbella, located on Spain’s famous Costa del Sol, epitomizes the Mediterranean lifestyle. Known for its luxurious resorts, stunning beaches, and world-class golf courses, it combines upscale living with affordability when compared to major U.S. cities. The real estate market in Marbella offers a range of properties that appeal to international buyers, especially retirees who want the best of both worlds—luxury and financial feasibility.

At Berkshire Hathaway HomeServices Marbella, we have seen firsthand how retirees from around the world are drawn to Marbella's unique blend of upscale living and affordability. Our real estate offerings cater to those seeking both high-end villas with stunning sea views and more modest apartments nestled within vibrant communities. The region's appeal lies in its balance: you can enjoy a laid-back, sun-drenched lifestyle while still having access to top-notch amenities, healthcare, and international schools for families moving with younger generations.

 

3. Navigating the Move: The Non-Lucrative Visa

One of the reasons Spain, and specifically Marbella, has become so attractive to retirees is the ease of securing a Non-Lucrative Residence Visa. This visa is available to non-EU residents, including Americans, who can demonstrate sufficient income to live without working locally. Colleen Kennedy’s experience is a great example of how accessible this process can be. After proving she had at least $30,000 in annual pension income, she was approved for her visa in just 15 days .

This visa allows retirees to live comfortably in Spain, and after five years, they can apply for permanent residency. Marbella's local government and expat communities are also very welcoming, making it easy for new residents to integrate and find support.

 

4. Marbella: A Haven for International Retirees

According to Barrett’s article, more than 700,000 U.S. Social Security recipients live abroad, a number that has grown by 20% in the last decade . The Costa del Sol, including Marbella, is one of the top destinations for these retirees. The area not only offers a luxurious lifestyle but also provides excellent healthcare facilities, international cuisine, and a vibrant cultural scene. 

For American retirees, the Costa del Sol offers peace of mind, knowing that their retirement savings can go further while enjoying a higher standard of living than in many U.S. cities. Marbella stands out as a location that balances high-end luxury with accessible costs, making it a prime spot for retirees seeking both comfort and financial sustainability.

 

5. Conclusion

As the desire to move abroad grows among retirees, Marbella and the surrounding Costa del Sol continue to attract attention as one of the best places for Americans to retire. The combination of an excellent quality of life, lower cost of living, and ease of securing long-term residency make it a compelling choice. 

If you are considering retiring abroad and are looking for a luxurious yet affordable destination, Marbella could be the perfect place for you to call home.

You can explore more insights through Marbella Property Lawyers (Mark F.R. Wilkins) Blog which led us to the original Forbes article.

Photo: Uldis Lapins

Published: 08 Oct 2024

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