Posted on 14 February 2011
Cheapest Place to Retire Abroad with the British Pound
As Britain’s economy looks more and more likely to be suffering for many years to come and as the UK’s credit rating looks like it may well be downgraded, many are of the opinion that the time is right to leave. However, it’s actually getting harder to get out of the UK as many nations that are typical Brit favourites – from New Zealand to the US – are refusing to take us in any great numbers!
What’s more, with the pound in your pocket instead of the dollar or the euro you’re going to find yourself hard pressed to find an affordable destination – especially if you want to retire abroad and live on the fixed income of your pension.
So together with our friends at M & S we have been looking into where the British pound goes further if you want to travel overseas. This will hopefully help you to discover which is the cheapest place to retire abroad with the British pound in your pocket…
The first place on our list is Turkey – this is a popular holiday haunt for Britons already, and is likely to overtake Spain in terms of its popularity within a few years if it continues to see the rate of growth of tourism from the UK that it has over the past 12 months! The Turkish Lira is not holding strong against the pound – hooray! Turkey has not beaten us at the currency game and as a result Britons are finding that their pounds go far further in Turkey.
What’s more, the price of property in Turkey remains hugely affordable – especially if you look away from the glitzy resort development being touted by British estate agents working in Turkey! If you spend some time living in the nation and getting to know the people, you’ll learn who you can trust, where the best properties are, who to buy through and how much you should really pay for a villa in Turkey overlooking the Aegean or the Mediterranean.
The Turkish Lira is now the third most popular selling currency according to our friends at M & S who recently completed and issued their Travel Money Report – it is trailing just the euro and the US dollar, proving just how popular a country Turkey has become with us Brits who are seeking a summer sunshine holiday, or an entire escape from the UK.
If you’re looking for an affordable place to retire therefore, you could do far worse than Turkey. It is poised on the brink of EU entry, (unless Germany gets its way), the nation is hugely welcoming of foreign residents, the cost of living is very low in many areas of the country, you can find the perfect balance for you between town and countryside, first world and rustic or traditional, built up and popular or quiet and peaceful. What’s more, as the nation is so vast you can spend a lot of time travelling and getting to know it well before you settle on an area to retire to, simply because your pound will take you further!
And our final choice has to be Egypt – this is emerging as more than just an exotic yet short hop holiday destination for Britons. With its wonderful year round climate, five star resorts, amazing landscape and history and affordable property prices, Egypt could be your retirement paradise on earth.
Wherever you do decide to retire abroad, make sure you spend some time in the country getting to know it first. The side of a nation you experience on holiday is not always the true nature of a nation – whilst we’re not saying it’s a façade and a front, a holiday maker is of course given the warmest of welcomes and the best of times. Actually getting to grips with a nation and learning to love it and live in it requires dedication, patience, tolerance and commitment, and you can decide whether a nation is deserving of all that time and effort only after you have spent a good deal of time living in it. So, our advice it always to rent before you buy, and don’t commit lock, stock and barrel until you are more than doubly sure the decision is right for you, your spouse and where appropriate, your family too.
Abridged Shelter Offshore 20 July 2009