People who relocate to Spain may be able to enjoy reduced living costs, according to experts.

ShelterOffshore.com said the European country is currently very popular with retired expatriates from places such as the UK.

The website stated that upon setting up home in Spain, foreign nationals are finding that they are saving money in many areas.

For example, utility bills and food costs are lower, while many are also paying smaller amounts in tax than they were in the UK.

ShelterOffshore.com added that the fact Spain has a hot and sunny climate means people are not paying as much for central heating.

The website commented: “The cost of living is generally lower when you have less need for fuel to heat your home.”

According to the Institute of Public Policy Research, more than 3.3 million British pensioners are likely to be living abroad by 2050.

Spain has been flagged up as a popular destination for retired expats by Propertyfinder.com.

According to the website, the European country has attracted thousands of foreign retirees during the last ten years.

This was partially attributed to the fact that it offers many lifestyle attractions to people from overseas, such as a warm climate and improved quality of life.

Propertyfinder.com added that financial considerations have also played a part, as retirees want to enjoy low living costs and make the most of their existing wealth.

Nicholas Leeming, director of the online portal, commented: “The average over-60-year-old homeowning couple has £265,000 of housing equity to unlock from their home.

“This kind of money can go a long way.”

He added that since house prices in Spain are currently falling, expats could possibly snap up a bargain property in the country.

According to the Institute of Public Policy Research, more than 3.3 million British pensioners are likely to be living abroad by 2050.

Expatriates in the UK are not moving to countries such as Spain just to enjoy its sunshine, new research has revealed.

According to Robinsons International, a number of factors have left Britons extremely disenchanted with life at home, so much so that a record number are now moving overseas.

The study showed that issues such as the growing population of the UK, loutish behaviour and the high cost of living have prompted many to look at living abroad.

Figures also revealed that some Britons intend to leave because they are unhappy with current government policies.

Commenting on the findings, Anthony Robinson of Robinsons International said: “It’s perhaps not surprising that so many people are looking for the better standard of living offered by other countries.”

This comes after ShelterOffshore.com revealed that Spain is still one of the most popular foreign locations for British retirees.

The website partly attributed this to its good climate, as it offers much warmer and sunnier conditions than the UK.

Older people from the UK are increasingly choosing to relocate to Spain, experts have stated.

According to ShelterOffshore.com, the European country is still one of the most popular foreign locations for British retirees.

The website partly attributed this to its good climate, as it offers much warmer and sunnier conditions than the UK.

However, Spain was also praised for offering a relaxed lifestyle that is highly conducive to enjoying a leisurely retirement.

ShelterOffshore.com added that all this can be achieved at an affordable price, as the cost of living is much lower than in the UK.

The website commented: “It’s famed for its laidback lifestyle and relatively low cost of living, and what’s more, the weather truly is glorious for the majority of the year.”

This comes soon after the appeal of the country highlighted by the Association of International Property Professionals.

According to the body, Spanish towns and cities were the chosen destinations of more than a quarter of British property buyers last year.

Areas such as the Costa Blanca and the Costa del Sol are still popular locations for foreign property buyers, a British newspaper has revealed.

According to the Telegraph, the Spanish coastline is still a “big draw” for overseas investors, partly because it is so easy to get to.

This, it stated, is despite the growing trend of foreign buyers looking for possible investment opportunities further inland.

The Telegraph added that the Costas are also successfully facing off competition from les-established locations in other parts of the world, such as eastern Europe.

Commenting on its appeal to investors, the newspaper said: “It is certainly facing much stiffer competition. Nevertheless, it remains a hugely popular destination.”

The publication stated that the region is appealing to different types of buyers, such as retirees who are planning to live abroad full-time and those who are seeking financial returns from their investment.

Spain was recently identified as the most popular location among British buyers in a poll by A Place in the Sun magazine.