This post was last updated on July 27, 2024.
Are you tired of the daily grind and dreaming of a life of leisure? Retirement is the ultimate goal, but where should you spend your golden years?
Look no further than the sun-kissed cities of Spain!
With its endless beaches, delicious food, and stunning architecture, Spain offers retirees the perfect mix of relaxation and adventure. After years of hard work, retirement should be a time to relax and enjoy life.
To make the most of your retirement in Spain, it’s essential to have a solid financial plan.
Brickell Financial Group can benefit you in many ways, including creating a personalized financial plan for a comfortable retirement, ongoing support and monitoring of your financial plan, and various financial services beyond retirement planning. Their expertise can help you navigate the complexities of investing, managing risks, and making critical financial decisions, providing peace of mind knowing your finances are in good hands.
Let’s explore some of the best places to retire in Spain and start living your best life!
1. Valencia: A Perfect Destination to Retire in Spain
Valencia, Spain’s third-largest city, is an ideal place to retire in Spain, offering a lower cost of living compared to other European cities. It has a slow pace of life and is very family-oriented. People here enjoy basking in the sun and taking their siestas (naps) at a very punctual time. Stores and restaurants alike shut down for this “siesta time,” from 4 pm to 7 pm, so make sure you get your lunch in before that.
The weather in Valencia is stunning most of the year, with beautiful beaches on the western Mediterranean Sea. The best period to visit Valencia is in late Spring or early Autumn. Since Spain is the second largest country in Europe, the climate can vary depending on your region.
Valencia has excellent air and rail connections, making moving around and visiting other cities easy. This allows you to easily escape to some of the other best cities in Spain during the long hot, and dry summer months of the southern Mediterranean region. Getting around within the city is very convenient as well. Metrovalencia is Valencia’s advanced urban railway system that is quick, easy, and highly reliable, making owning a car optional.
One of the things I most look for in the city where I live is its walkability and public transit. According to Walkscore, Valencia has a perfect score of 100, making it a walker’s paradise. The Jardín del Turia was initially supposed to be a road running straight through the heart of Valencia to reduce traffic congestion.
Instead, after pushback from the locals, the road was turned into a beautiful park, which makes Valencia so special. One of my favorite things about living in Spain was running and watching skateboarders doing tricks off the skateboard ramps, people playing with their dogs, and feeling the inspirational vibes of fitness enthusiasts dedicating this space to bettering themselves.
Arguably, Valencia’s biggest draw is its rich culture and entertainment. It’s surrounded by culture with science and art museums. They also hold great festivals here, like the festival of Las Fallas, held in March, and La Tomatina, held in August. Both are great fun, allowing you to take in some Spanish city traditions.
They even have local golf courses for you golfers. Valencia is home to El Saler, one of the top-rated golf courses in Spain. Its moderate climate makes it a great city to live in and golf in.
If you want to learn more about Valencia’s wine and cuisine, visit our blog on the Culinary Delights of Valencia: A Gastronomic Journey.
Cost of Living and Healthcare When You Retire in Spain
Now let’s talk numbers. According to Numbeo, a cost of living database, the cost of living in Valencia is 9.1% lower than in Madrid. A one-bedroom apartment will cost around $824 and $530 outside the city center. This means that retirees can enjoy a comfortable lifestyle at a much lower cost.
What about healthcare?
Spain has one of the best healthcare systems. At one point, the World Health Organization (WHO) ranked it seventh in the world. A 2018 ranking from the Euro Consumer Index ranked it 19th, mainly due to its reliance on private healthcare. And Valencia has been crowned the healthiest city in the world according to Money.co.uk. No surprise, considering the aforementioned healthy lifestyle (despite the heavy drinking wine culture) Valencia offers its residents.
It has public and private health insurance for you to choose from. The public healthcare system is available to all of its residents. Spain spends about 11.17% of its GDP on healthcare, which is why it is ranked amongst the best in the world. This is a massive plus for Americans looking to escape a healthcare system that ranks dead last amongst industrialized countries, even though it is one of the most expensive.
You can read more about Valencia’s healthcare on our other blog Retiring in Valencia: An Overview of Spain’s Healthcare System for U.S. Expats.
2. Costa del Sol: Ideal for a Sunny Retirement in Spain
The Costa del Sol, including popular towns like Marbella and Estepona, is another fantastic place to retire in Spain. Over 300,000 foreigners migrate to Costa del Sol, according to the census. The sheer number of retirees who have made this their home shows how desirable this place is.
The region has a warm Mediterranean climate, with an average of 320 days of sunshine annually. Costa del Sol is a perfect location for those who want to enjoy a warm and sunny ideal retirement destination.
Rent for a one-bedroom apartment costs $925.00 plus per month, depending on your specific location. Marbella is one of the pricier cities in Spain. Foreigners are willing to dish out more due to the region’s Mediterranean natural beauty, world-class amenities, and vibrant ex-pat community.
3. Mallorca Island: A Tranquil Retreat to Retire in Spain
Mallorca is a beautiful island in the Mediterranean Sea, known for its stunning coastline, turquoise waters, and scenic mountains. This is great for a more tranquil laid, back lifestyle with delicious fresh food.
A mid range restaurant is $28 per person.
The island has a population of around 900,000, with a significant expat community of approximately 200,000 people.
Mallorca offers an excellent quality of life, making it one of the best places to live in Spain, with a low crime rate and a high standard of living. The island also has a robust healthcare system, with public and private hospitals available to residents.
A one-bedroom costs from $760.00 to $940.00, according to Numbeo.
4. Seville: Rich Culture and Warm Traditions for Retirees in Spain
Seville is the fourth-largest city in Spain and is known for its mix of Jewish, Christian, and Moorish history and architecture. Seville is part of the autonomous community of Andalusia.
It is world-renowned for its Spaniard traditions, such as Flamenco and bullfighting. Living in Seville as a retiree offers a vibrant and culturally rich lifestyle. The city’s charming historic center, lively tapas scene, and year-round festivals make it an exciting place to retire in Spain.
Explore architectural wonders like the Alcázar and Giralda, wander through picturesque neighborhoods, and savor delicious cuisine. Enjoy leisurely walks along the Guadalquivir River, indulge in flamenco performances, and embrace the relaxed pace of life in this enchanting city. Seville perfectly balances h Spaniard traditions such as Flamenco and bullfighting.
The city has a population of around 700,000 and is home to many expat communities, mainly American and British expats.
Like many of the cities referred to in this article, Seville has a warm Mediterranean climate, with an average temperature of 66°f.
The city also has a low cost of living, making it an affordable retirement destination.
According to Numbeo, rent in Seville is 37.4% lower than in Madrid.Around $517.00 to $723.00 for a monthly bedroom and about $10 for an average meal.
5. Madrid: The Cultural Capital for Retirees in Spain
Madrid is Spain’s capital and home to over 6.6 million people. The city is known for its world-class museums, beautiful parks, and lively nightlife.
Madrid also has a high standard of living, with a strong economy and a low crime rate.
The city is also home to many expat communities, making it easy for retirees to integrate into the capital and local community. This means a large English-speaking community is waiting to welcome you as you retire in Spain.
6. Andalusia: A Blend of History and Natural Beauty for Retiring in Spain
Andalusia is a region in southern Spain known for its beautiful beaches, stunning countryside, and rich culture.
The region has many popular tourist destinations, including Malaga City, Granada, and Cordoba. It is filled with English-speaking ex-pats. Nonetheless, it is worth learning to speak Spanish to get the best experience of living in Spain.
If you like the quiet life, you have one of my and Ernest Hemingway’s favorite towns, Ronda. This quaint town is perfect for getting away from the big cities to enjoy one of Spain’s oldest bullfighting rings. Cross El Puente Nuevo (The New Bridge) was built in 1751 after the original bridge fell apart, killing fifty people. Ronda is truly one of the best places to retire in Spain, offering a serene and culturally rich environment away from the hustle and bustle.
It also served as a prison during the civil war between 1936 and 1939. And walk around to enjoy beautiful architecture that dates back to the Celtics and Phoenicians, with heavy Berber and Roman influences. This town has changed hands with many cultures, so you will be immersed in culture and history when visiting Ronda.
Unlike many cities on Spain’s North Atlantic coast, Andalucia has a lower cost of living than other European countries, making it an affordable retirement destination for those wishing to retire in Spain.
For example, Malaga, which sits on the southeastern coast of Spain, offers a materially more affordable cost of living than other coastal areas like the Balearic islands and San Sebastian and is much lower than popular U.S. retirement destinations.
According to Numbeo, Rent Prices in Malaga are 66.2% lower than in Miami, FL.
One strategy to consider is renting out your primary home in the United States on Airbnb, which will more than cover your rent abroad and many nights of wine and fine dining.
This is one of many financial hacks in which an outside-the-box thinking CFP® professional can help you retire three to five years sooner!
Andalusia has a high-quality healthcare system, with the region’s hospitals ranking among the best in Spain.
7. Canary Islands: A Tropical Paradise for Retirees in Spain
The Canary Islands are a group of seven islands located off the coast of Morocco.
The islands are a popular retirement destination due to their warm climate, stunning landscapes, and relaxed lifestyle.
The Canary Islands have a lower living cost than other European countries, making it an affordable retirement destination. According to Numbeo, Rent Prices in the Canary Islands are 54.7% lower than in Miami, FL. Restaurant Prices in the Canary Islands are 55.5% lower than in Miami, FL.
The Canary Islands have a high-quality healthcare system, with the University Hospital of the Canary Islands ranking as one of the best hospitals in Spain.
8. Costa Blanca: Beautiful Beaches and Affordable Living for Retirees in Spain
The Costa Blanca is a region on the eastern coast of Spain known for its beautiful beaches, picturesque towns, and excellent climate. The region has popular retirement destinations, including Alicante, Benidorm, and Torrevieja.
Costa Blanca has a lower cost of living than other European countries, making it an affordable retirement destination for those looking to retire in Spain. According to Numbeo, Rent Prices in Alicante are 73.8% lower than in Miami, FL.
The University Hospital of San Juan in Alicante is a leading hospital in the region, offering high-quality healthcare services to residents with public and private hospitals available to residents.
Costa Blanca also contains many high-quality senior living options compared to other countries like the United States, which actually suffers from underinvested senior housing. Although you may feel it is too early in your retirement to be thinking of senior housing, the reality is that as you grow older, the less likely you will want to relocate as you build a community of friends and grow accustomed to a particular lifestyle.
Therefore it is essential that you also take into account these longer-term objectives in your retirement planning.
9. Barcelona: A Vibrant City with a Beachside Charm for Retirees in Spain
Barcelona is one of the big Spanish cities. It is the perfect location for those who love city life and a little beach life.
For those tired of the car-dependent lifestyle you are forced into in many of the best cities in the United States, Barcelona plans to be a pedestrian-only city center within the next decade. It is a well-rounded city, by far one of my favorites.
Many people speak English here, so it will be easy to find your footing.
Everything is within walking distance from the famous daily central market, where you can taste, see, and experience the Spanish culture and rich cuisine to the historic center.
The international airport is only an hour’s drive, 13km outside the city center. Their excellent transportation system makes it easy to be by the beachside within 30 minutes from the city center.
This place is truly a marvel with many green spaces, concert halls, art galleries, botanical gardens, and a million other things to do. But what truly blew my mind was that I could experience the city, mountains, and beach all in one city!
Barcelona is not only one of the best places to retire in Spain but also offers an exceptional experience for living in Spain.
The city has tons of expats that fill it with diversity. Almost everyone is bi- or trilingual; everyone I met was friendly and helpful.
Now Barcelona, one of the largest cities, is more costly. A one-bedroom goes from $900 plus, depending on your lifestyle. But if you ask me, it’s completely worth it. All the characteristics described above make Barcelona one of Spain’s best places to retire.
Retire in Spain and Embrace a New Lifestyle
In conclusion, Spain is an excellent place to consider if you want to retire overseas, with various options to suit different preferences and all lifestyles.
From the warm and sunny Costa del Sol to the cultural hub of Madrid, retirees can enjoy a high standard of living, affordable cost of living, and excellent healthcare facilities. Spain has something for everyone, whether looking for a relaxed beach lifestyle, snow, or a vibrant city atmosphere.
Could you picture yourself living in Spain whole or part-time?
If so, take the first step in scheduling a call with a financial planner to help you break down the costs of living of your ideal retirement lifestyle. Then determine how much sooner you could achieve your ideal retirement should you relocate to amongst the best places to retire. Enjoy the subtropical climate that thoughtful retirement planning brings you. Instead of the commute to work and long working years that poor retirement planning brings you.