More and more choose to retire abroad

An ever-growing number of British pensioners are choosing to retire abroad in the hope of obtaining a better standard of living.

According o the Institute of Public Policy Research, over one million Britons are currently drawing their pensions abroad, three out of four of them in Spain. By 2050, it's anticipated that the figure will more than triple to 3.3 million.

Gated communities are becoming more prevalent in countries like Spain, France and Portugal, offering a high level of security, medical care and lifestyle activities for senior sunshine retirees.

Research published by online mortgage company, Mform, shows that 13 per cent of Britons looking to buy a new property overseas plan to do so without borrowing money by downsizing and taking advantage of the recent property price hikes.