UK voted worst place to live in Europe for quality of life whilst Spain is the second best place to live

May 22, 2012 – 9:41 am

The UK has been voted the worst place to live in Europe for quality of life, according to uSwitch. The high cost of living, later retirement age and lack of holidays have pushed the UK into bottom place, behind Poland, Germany, Ireland and Sweden.

Top of the list for the third year running is France, second place goes to Spain while Italy falls into third.

Although the average net income in the UK is one of the highest in Europe, everyday living costs are far greater with the price of unleaded petrol, alcohol and cigarettes way above the European average.

The study was conducted by looking at 16 different factors, including income and the cost of essential goods along, with lifestyle factors such as hours of sunshine, life expectancy, working hours and holiday entitlement.

Today just 5% of us are happy living in the UK, while 12% admit to wanting to emigrate. When asked what the worst thing about living in the UK was, 59% said it was Britain’s broken society, while 49% blamed the cost of living and 47% cited crime and violence.

Ann Robinson, spokesperson for uSwitch.com, says: “We may still be enjoying the fourth-highest household income in Europe, but the high cost of living means that we’re living to work. When coupled with many of the issues facing households in the UK today it’s not surprising that one in ten of us have contemplated starting a new life abroad.

“For those of us who decide to stay put and ride out the storm, there will be no choice but to batten down the hatches. Cutting back where possible to help combat our high living costs will go some way to improving our quality of life.”

Rank Countries VAT Working hours per week Number of holiday days per year Retirement age Cost of fuel (per litre) Food prices (GBP)
1 France 19.6% 38.0 36 60 £1.31 £120.78
2 Spain 18% 38.6 39 62.3 £1.15 £124.54
3 Italy 20% 37.8 31 60.1 £1.33 £125.22
4 Holland 19% 30.6 31 63.5 £1.43 £122.51
5 Germany 19% 35.7 29 62.2 £1.33 £123.88
6 Denmark 25% 33.5 36 62.3 £1.40 £130.09
7 Poland 23% 40.6 38 59.3 £1.10 £137.72
8 Sweden 23% 36.5 38 61.4 £1.35 £126.78
9 Ireland 21% 35.0 29 64.1 £1.28 £112.62
10 UK 20% 36.4 28 63 £1.33 £145.30
By Angela | Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Weather | Tagged , , , , , , , , , , , , , , , , , , , , , , , , | Comments (0)

British emigrants in Spain receiving sickness benefits

January 13, 2012 – 6:04 am

Some Spanish and Tenerife residents receiving over £90 a week in benefits from UK

At least 10,000 British emigrants are receiving sickness benefits of up to £94 a week while living abroad, according to figures published yesterday. The combined total could cost the taxpayer close to £50million a year.

Over the next three years, major changes are being introduced to incapacity benefit, including a tougher medical test for claimants and the re-testing of existing recipients. But officials have admitted that about 4,000 older recipients of the benefit living in Spain, Jamaica and elsewhere will be able to continue drawing the payment until they reach retirement age.

Source: Telegraph.co.uk

By Angela | Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do | Tagged , , , , , , , , , , | Comments (0)

Spain is Brits’ favourite

September 5, 2010 – 11:11 am
Spain and Canary Islands Brits favourite spots

Spain and Canary Islands. Brits favourite spots

If you are looking to up sticks and spend your golden years somewhere warmer, check out Standard Life’s new list of the world’s top five retirement hotspots – but before you jump on that plane, be warned that a life abroad may leave you less well off than staying in Blighty thanks to pension woes.

Spain is the country that most Brits would like to retire to, due to it’s warm climate, outdoors lifestyle and the proximity and ease of getting back to the UK.  There is a crucial point to consider before heading off for sunnier climes – namely money and whether you will actually be able to afford the retirement you are dreaming of.

Andrew Tully, Senior Pensions Policy Manager, Standard Life said, “Retiring abroad is a dream for many people but without careful planning and advice, things can potentially go wrong very quickly.”

If you move abroad permanently, any increases in your UK state pension will only apply if you are living in an EU country (including Gibraltar and Switzerland), or a country with a reciprocal social security agreement with the UK. So, while your friends back home in ol’ Blighty may be enjoying double the level of state pension that you are getting after 20 years.

If you choose to move outside these countries, the amount of UK state pension you will receive each year is frozen at the amount initially paid when first claimed – or if you emigrated more than one year after payment began, at the rate in force when emigrating). Popular retirement countries outside these reciprocal agreements include Australia, Canada, New Zealand and South Africa.

Mr Tully added, “One significant consideration before you move is to think about your state pension and what, if any, reciprocal agreement is in place.  If there isn’t a reciprocal agreement in place, then you need to be very careful your retirement income is sufficient to cover your living costs over a long period of time.  Over a 20 year retirement, your basic state UK pension could halve in real terms if a reciprocal arrangement is not in place.”

If you are considering retiring abroad in the future, but are wondering if your retirement savings will be sufficient, Standard Life has launched www.getarealitycheck.co.uk, where you can check if your plans are on track.

Top tips for retiring abroad

Seek independent financial advice before making plans about future pension provision or transferring your pension overseas.

Check what reciprocal basic state pension agreements are in place with the destination country, if any (check with the Department for Work and Pensions).

Inform your social security office, HM Revenue and Customs, and the Department for Work and Pensions when you move and provide your contact details abroad.

You can get a forecast of your state pension by completing a BR19 form or go to www.thepensionservice.gov.uk.

If already overseas, complete form CA3638 or call The International Pensions Centre on 0191 218 7777.

Check your state pension age (SPA). For women, the SPA is rising from 60-65 between 2010 and 2020, with further rises to 68 currently expected to take place by 2048, although the coalition government may accelerate these changes.

Find out about welfare rights abroad.  Some UK benefits are not payable outside the UK, others apply only in the EU or in countries which have agreements with the UK.

Tell your bank, building society and any other financial institution that you have a policy or agreement with them and are moving abroad.

Contact your local council to let them know when you are leaving and leave a forwarding address.

Find out more about healthcare costs in the country you want to move to.

Inform your GP and dentist you are moving, and consider private healthcare.

By Angela | Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do | Tagged , , , , , , , , | Comments (0)

Canarian property prices improving according to TINSA

June 14, 2010 – 4:56 pm

Canarian property prices beginning to recover?

Canarian property prices beginning to recover?

Spanish property prices are still falling, but less with every passing month, according to the monthly house price index published by Tinsa, one of Spain’s leading appraisal companies

Average Spanish property prices fell by 4.4% over 12 months to the end of May, show the latest figures from Tinsa. Prices actually fell a fraction compared to last month, even if they rose compared to the same month last year.Should the Tinsa figures be believed, the rate of decline in Spanish property prices has been slowing since June 2009, when it peaked at -10.1%. If the trend towards smaller declines keeps up, average property prices will be stable, or even growing slightly before the end of the year.

Prices have fallen the least over 12 months in coastal areas and the Islands, areas traditionally popular with foreign buyers looking for holiday and retirement homes. Prices are down just 4.1% on the coast, and 2.4% in The Canaries and The Balearics

On a peak to present basis (since prices peaked in December 2007), prices are down 16.5% nationally, 21.4% on the Mediterranean coast, and 12.8% in the Canaries and the Balearics. So anyone buying a property on the coast today should be getting a discount of 21% on average compared to 2007.

Tinsa’s figures are based on their own valuations, not actual transaction prices. Most of these valuations have been paid for by banks, and  they might not give a true picture of property prices .

May Index
National: 1,906
Mediterranean coast: 2,035
Balearics & Canaries: 1,641

Peak Index (December 2007)
National: 2,284
Mediterranean coast: 2,590
Balearics & Canaries: 1,881

By Angela | Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Uncategorized, Weather | Tagged , , , , , , , , , , , , , , | Comments (0)

No place like home?

December 21, 2009 – 4:30 pm
The strong euro has changes plans for those living and wishing to live in Tenerife and Spain

The strong euro has changes plans for those living and wishing to live in Tenerife and Spain

It seems there really is no place like home. New research has discovered that UK expats are returning home in their droves as the weak pound has sent the cost of living in the Eurozone soaring.Over the last year, there has been a huge rise in the number of expats living in Europe looking to return home to the UK.

Research  for home-movers, has seen an uplift in demand for removal quotes from those expats wanting to relocate back to the UK – a big turnaround from the exodus of Brits in recent years to enjoy warmer climes and cheaper property prices elsewhere. The number of people requesting quotes to move to the UK has increased by 37 per cent, while there has been an 18 per cent decline in the number of people moving from the UK to the continent in the space of a year

Spain has  seen an exodus in the past year, with a 39 per cent increase in the number of quotes to move to the UK. Traditionally the most popular haven for British expats seeking to retire in the sun, Spain has suffered from a devastating property crash, leaving many owners with depleted equity and high living costs due to UK pensions being paid in pounds not euros.

Many expats have had their dreams shattered by the current economic crisis and are finally realising that they can no longer afford to live in Europe with the weak pound. For those who kept their options open by retaining a property in the UK the situation is not so desperate but for many who sold up completely and are now unable to sell their European home, their only option is to rent back in the UK.

We have seen a sharp decline in the number of people moving out to the continent in the past twelve months as a result of the weakening pound and stretched finances in the UK. This has resulted in many would-be expats putting their aspirations of retirement in the sun on hold until the markets recover.

By Angela | Posted in Economy, General, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Uncategorized, Weather | Tagged , , , , , , , , , , , , , | Comments (0)