Spanish city is a magnet for British expats as movers can enjoy mortgage rates '2% lower' than in UK
Most Britons prefer to live in a country with economic stability
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Spain is home to diverse cultures and creeds, attracting millions of British holidaymakers every year.
Many choose to make Spain their home as the country ticks several boxes for those wishing to start afresh. Choosing the right city is imperative, however.
Younger adults typically look for a country with economic stability and job security when choosing where to relocate.
Retirees, on the other hand, are more likely to opt for a place with a warm climate and a slower pace of life.
Most Britons prefer to live in a country with economic stability
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While Spain ticks many of these boxes, some cities and towns in Spain are more popular than others.
According to experts at Compare My Move, the following cities are the most popular among British movers:
Barcelona - 10.9 per cent of British expats
Madrid - 10.4 per cent of British expats
Alicante - 6.9 per cent of British expats
Malaga - 6.8 per cent of British expats
Valencia - 4.6 per cent of British expats
Experts at Compare My Move explained: “As well as the expat-heavy places, the most popular places to move to in Spain are Barcelona and Madrid, two of the country’s biggest cities and cultural hubs in Europe.
“Barcelona tops Madrid by 0.5 per cent to be the most popular city for British movers to Spain despite Madrid being the larger city and country’s capital.
“Alicante and Malaga also make the top four with around the same percentage of movers.
“These places have a large expat community and being in the south of Spain get some of the best weather in Spain, adding to their popularity.”
According to the data, more than 55 per cent of Britons who left the UK moved to Europe in the last year.
Spain, France, Italy, Ireland and Germany were the most popular destinations for emigrating UK nationals.
The United States carried the Northern American continent to second place, with Canada contributing to the high percentage of movers.
Just over five per cent of Britons are moving to the Middle East, making it the fourth most popular place to move to.
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Data shows Europe is the most popular continent among British expats
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Dave Sayce, the founder and managing director of Compare My Move, said: “We expect Spain to stay a popular destination for British movers throughout 2024, possibly even growing in popularity due to the stagnant mortgage rates in the UK and the mortgage interest rates in Spain being around two per cent lower than the UK.
“While the USA will still be very popular due to the cultural similarities between the UK and the States, the uncertainty of the election outcome could see fewer people planning a move there for fear of any change in immigration laws.
“I’d also expect the United Arab Emirates and Dubai to do well this year, continuing their increase in popularity.
“Throughout the top 10 places to move abroad, I think the number of movers will increase as more and more people look to living abroad as an option.”