18 Best Places to Retire in Spain
This article takes a look at the 18 best places to retire in Spain. If you wish to skip our detailed analysis on the expatriate surge in Spain, you may go to the 5 Best Places to Retire in Spain.
Expatriate Surge in Spain
Spain, one of the most advanced nations in Europe, extends to expatriates a high quality of life, an enviable climate, and world-class healthcare services. According to the General Council of Notaries report, the American expatriate community in Spain has grown by a notable 13% from 2019 to 2021. As a result of these strategic moves, there has been a remarkable 88% upswing in property sales to Americans during the corresponding period. In the broader context, the Spanish real estate market is gaining popularity amongst international buyers as well, accounting for 25% of all residential property sales in 2022. Americans and Europeans, in particular, are being highlighted to buy homes on the southern coast of the country.
The heightened demand for coastal properties, combined with a constrained supply, is consequently pushing real estate prices higher in the country. For instance, Marbella, one of the main cities in the Malaga region in Spain, has witnessed a 39% surge in property prices as compared to pre-pandemic levels. According to Idealista, homes in Marbella are selling for $1.3 million on average. These prices make the real estate in this location pricier than both Madrid and Barcelona. Real estate company Knight Frank further notes that almost 3,496 homes were purchased by foreign buyers in Malaga in Q1 2023.
Meanwhile, residential real estate prices in Madrid have climbed up 4.9% in May 2023 as compared to a year ago. Housing shortages in major Spanish cities continue to exert pressure on the real estate market, revealing a deepening housing crisis. According to the Bank of Spain, the lack of construction and the influx of migrants and foreign buyers are collectively responsible for the intense demand pressure that the real estate market is facing.
Retiring under the Spanish Sun
More than just sunny beaches and striking natural landscapes, Spain appeals to retirees because of its cultural richness, high quality of life, and modern amenities. Many cities in Spain are among Europe's top retirement destinations, offering a rich cultural experience, diverse climates, a healthy lifestyle, and affordable living.
The best thing about retiring to Spain is probably the diversity of climates it offers. From the sunny coasts of Andalusia to the milder climate of the Costa Blanca, retirees are bound to find an atmosphere that suits their needs and preferences. Spain’s healthcare system is top-notch and world-renowned, another benefit of retiring to Spain.
While retiring in Spain has its fair share of advantages, it's important to be aware of the associated drawbacks as well. Some pitfalls of retiring to Spain include low English proficiency, lack of vegan and gluten-free options when dining out, and a laid-back lifestyle that can sometimes feel frustrating. Since english-language-proficiency is low in the country, retirees must learn basic Spanish to communicate with the locals.
However, overcoming these pitfalls means that you, as a retiree, get to enjoy and live under the Spanish sun during your retirement period. To top it all, living in the country isn't going to break your bank either. The minimum income to retire in Spain is €2,450 monthly and an additional €600 for each dependent.
Without further ado, let’s look at the best places to retire in Spain in 2023:
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Methodology
To compile the list of best places to retire in Spain, we have used several sources such as International Living, Golden Visa, MSV, Expatriate Consultancy, and Spain Made Simple.
We have also consulted various expat forums such as Reddit and Quora to integrate expat insights into the best retirement destinations in Spain. To establish our rankings, we adopted a consensus-based methodology, assigning one point for each instance a particular location was recommended by a reliable source.
Regarding the cost of living, our figures reflect the monthly expenses for an individual retiree in Spain, encompassing the cost of renting a one-bedroom apartment in the city or town center. We gathered this financial data from a range of trusted sources, including platforms like Nomad List, Nomads Nation, Cost of Live, and others.
Here are the best places to retire in Spain:
18. Mallorca Island
Insider Monkey Score: 2
Mallorca (Majorca), the largest Balearic Island of Spain, is celebrated for its exquisite beach resorts, rugged limestone mountains, traditional Spanish architecture, numerous wineries, and striking coastline. The Mediterranean Haven is famous amongst hikers and boasts some fantastic golf courses too. Featuring fresh and delicious dishes, Mallorcan cuisine is another highlight of this island, renowned for its sumptuous seafood and iconic paella. The excellent healthcare system, which includes free healthcare, is a significant advantage for retirees in Spain, providing access to modern healthcare facilities on the island. On average, the monthly cost of living for an individual retiree is $1,938. This cost includes the average rent of a one-bedroom apartment which is $827.
17. Costa Brava
Insider Monkey Score: 3
Costa Brava is the perfect retreat for the retiree looking for a mix of sandy beaches, tranquil villages, rocky coves, and mountain scenery. Costa Brava, meaning “Wild Coast,” draws retirees with its breathtaking Mediterranean shoreline and captivates them with a wide array of activities, from thrilling water sports and scenic hikes to leisurely rounds of golf and the exploration of the region's idyllic countryside. A single retiree can enjoy a comfortable lifestyle with an average monthly budget of $1,500.
16. Costa Dorada
Insider Monkey Score: 3
Famously known as the “Golden Coast,” Costa Dorada is well-known for its beaches, resorts, and Mediterranean climate. More than just a coastal destination, Costa Dorada boasts vibrant cities with bustling nightlife, a plethora of golfing opportunities, and a diverse culinary scene. With picturesque vineyards lining the coast and an array of captivating historic sites to explore, this location stands out as one of the best places to retire in Spain from USA. A single retiree can enjoy a comfortable lifestyle with an average monthly budget of $1,500.
15. San Sebastian
Insider Monkey Score: 4
The resort town of San Sebastian is undoubtedly one of the best places to retire in Spain for retirees. Playa de la Concha and Playa de Ondarreta are two exquisite beaches cradled by a scenic Bayfront promenade, an ideal place for the sea-loving retiree. The town is a culinary gem as well, featuring several Michelin-star restaurants, fresh seafood markets, and pintxo bars.
Basque traditions, music festivals, and art galleries reflect the town's rich cultural heritage, offering retirees a lot to engage themselves in. The healthcare system is well-developed, and there is a wide range of amenities offered. On average, the monthly cost of living for an individual retiree is $2,756. This cost includes the average monthly rent of a one-bedroom apartment which is $1,003.
14. Costa del Azahar
Insider Monkey Score: 5
Translating from Spanish as the “Orange Blossom Coast”, Costa del Azahar is a striking stretch of the Mediterranean coast that retirees can call home. Besides the affordable cost of living, the region is also revered for its excellent healthcare, a wide range of amenities, and numerous recreational opportunities. Delicious food, historic towns, and long stretches of sandy beaches make Costa del Azahar one of the best places to retire in Spain. There are many places to explore such as Pe?iscola, the city by the sea; Morella, one of the most beautiful villages in Spain, and Delta del Ebro "land of flamencos".
13. Murcia
Insider Monkey Score: 5
Situated in Southeastern Spain, Murcia appeals to retirees for its low cost of living, beautiful landscapes, and rich cultural heritage. Retirees get to explore the rich tapestry of heritage at sites such as the Plaza Cardenal Belluga, pristine beaches along the Mediterranean Coast, rugged mountains and valleys, and even the vibrant cities brimming with nightlife. Annual festivals keep retirees engaged too, while shopping centers, restaurants, and markets are easily available as well. On average, the monthly cost of living for an individual retiree in Murcia is $1,500.
12. Torrevieja
Insider Monkey Score: 5
Torrevieja is popular amongst retirees because of its coastal beauty, Mediterranean climate, and affordable cost of living. Retirees have access to beautiful beaches such as Playa de Los Locos and beautiful seaside promenades. Art galleries, museums, and cultural events keep them engaged just as much, offering them a chance to experience the local culture. The community is quite diverse, offering a mix of both locals and expatriates. Healthcare facilities are modern, and so are the other amenities available. On average, the rent for a one-bedroom apartment in the town center costs $475, while the overall cost of living is estimated to be $1,000.
11. Marbella
Insider Monkey Score: 6
Retirees looking for an affluent lifestyle can consider retiring to Marbella, Spain. The city and resort area is considered a Mediterranean paradise, featuring many beaches, hotels, villas, and golf courses. The historic old town is brimming with charming cobblestone streets as well as historic architecture. The cost of living is comparatively on the higher end because of Marbella's upscale lifestyle, and an individual retiree would need a monthly average of $2,546 to comfortably live here. Other than that, the warm climate, luxury amenities, and established expat community make it one of the best places to retire in Spain for US citizens.
10. Costa Blanca
Insider Monkey Score: 7
Situated in the Alicante province, Costa Blanca is known for its stunning beaches along the Mediterranean coast, modern healthcare, and extensive amenities. Brimming with history and culture, the region offers charming towns and villages to explore and indulge in the past. The retirement community here is safe and friendly, allowing expat retirees to socialize and adjust with ease. On average, the monthly cost of living for an individual retiree is $2,000.
9. Costa del Sol
Insider Monkey Score: 8
Retirees are often drawn to Costa del Sol for its fabulous beaches, delicious food, and beautiful landscapes. El Bajondillo is a popular coastal area in the region famous for its beachfront promenade, pesca'to (small fried fish), and numerous beach bars and restaurants. Retirees also love to explore La Carihuela, known for its fishing village ambiance and home to cafes, shops, and Mediterranean restaurants serving fresh seafood. Costa del Sol, also known as Costa del Golf, is also a golf paradise with more than 70 golf courses in the region. On average, an individual retiree would need $2,500 per month to retire here.
8. Barcelona
Insider Monkey Score: 9
Barcelona, the cosmopolitan capital of Spain’s Catalonia region, is one of the best places to retire in Spain. It is primarily famous for its art and architecture. From the iconic works by Antoni Gaudi and Lluís Domènech i Montaner to historic neighborhoods such as the Gothic Quarter, there is much for retirees to explore. The coastal location allows retirees to enjoy a Mediterranean lifestyle as well, characterized by beaches, pleasant weather, and a relaxed pace of life. World-class healthcare, Michelin-star restaurants, and a dynamic cultural scene make Barcelona one of the best places to retire in Spain from the USA. On average, the monthly cost of living for an individual retiree is $2,309, which includes $1,288 spent on rent.
7. Seville
Insider Monkey Score: 10
Seville, the southern Spanish capital, has deep roots in history and culture. Retirees will have a pleasant time here exploring architectural marvels such as the Alcazar, the Giralda Tower, and the historic Jewish Quarter. Local markets, cafes, and restaurants feature the most delectable and diverse cuisine such as tapas, seafood, and Andalusian dishes. The city is also a hub for the Flamenco music and dance. There are many scenic parks to relax and rejuvenate, such as Maria Luisa Park and Alamillo Park. On average, the monthly cost of living for an individual retiree is $1,693, which includes $689 spent on rent.
6. Malaga
Insider Monkey Score: 11
Malaga, Spain, is another Mediterranean paradise to retire to in Spain. The city enjoys warm, sunny summers and mild winters. The striking coastline along the Mediterranean Sea adds to the appeal of retiring here, offering retirees plenty to do under the sun. Wine bars and sidewalk cafes are spread throughout the city, shaded by large umbrellas. The historic center is a major draw, and so are the art museums such as the Picasso Museum and the Centre Pompidou. On average, the monthly cost of living for an individual in Malaga is $1,874, which includes an estimated $1,060 spent on rent.
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Disclosure: None. 18 Best Places to Retire in Spain is originally published on Insider Monkey.