Spain has been hailed as the top overseas retirement location for Brits finishing their working life, with lifestyle and financial considerations making Iberian property so sought after for the older age bracket.

Daily Telegraph property pages championed quality Spanish retirement property for those seeking “security and support” in their retirement, “as well as sun, sea and sport”.

Sarah Woods, a retirement expert commenting for the Titan Properties feature, confirmed the lifestyle perks: “Spain remains the most popular country for British retirees due to its great climate, accessibility from the UK and lower cost of living.”

Ms Woods also highlighted the financial incentives that add to the lifestyle perks, claiming that new government regulations brought in this year have reduced capital gains taxes for ex-pats to the same level as nationals, constituting a fall from 35 to 18 per cent.

But the implications were even better for retirees well established in their Spanish properties: “Permanent residents over 65 who have lived in their Spanish property for more than three years will be exempt from capital gains tax entirely,” claimed the retirement specialist.

Further tax benefits in Spain can be enjoyed by retirees and younger buyers alike, with the Impuesto Extraordinario sobre el Patrimonio tax stipulating that foreigners setting up in Spain need only declare Spanish-based assets for taxation.