The global pandemic has had a huge impact on the world. Some of the effects have been surprising but should not necessarily have been unexpected.
Many more people are now re-evaluating their lives and considering what is important to them. There has been a sharp and growing realisation that life is precious and that the quality of life you and your loved ones lead matters. We have seen various countries with good living standards and favourable climates such as Barbados offering massive incentives such as tax free living for people to move as the realisation is that work can be flexible and where you do it from is more of a consideration than many other factors.
Nowhere is this more evident than in the property market. In the UK estate agents have been reporting a surge in both enquiries and prices for coastal properties and larger properties outside of town centres. This has been driven in part by the massive change in working practices with much more working from home and location no longer being a factor. As people assess their situation, they come to the realisation that it is more important to have a home and life you can enjoy than to have your life choices solely dictated by the physical area of your work. The same is true in other territories such as the US where at one point over 1,000 people a day were moving to Florida realising they could work for a Manhattan company, at Manhattan rates but live in the Sunshine State.
So, what is a good quality of life? Looking at the Britannica definition this is “the degree to which an individual is healthy, comfortable and able to participate in or enjoy life events”. Unpacking this statement in terms of what a quality living location should provide there must be adequate health care, a healthy diet, a favourable climate, and the ability to take part in activities one enjoys. For residents of the United Kingdom another factor would be proximity to the UK, this allows for easy and inexpensive visits to and from family, old friends and acquaintance.
Looking at the Numbeo quality of life rankings by country the UK ranks 19 out of the 82 countries listed and has a Quality-of-Life index score of 161.20. Portugal is just above the UK at number 18. The only one that meets the criteria of closeness, warm climate and a better score is Spain at number 16 with a score of 167.05.
What the figures above highlight is something that has been known for many years now. As a place to live Spain has numerous advantages. A favourable climate, a cost of living some 18% lower than that of the UK, a shorter average commute and the property prices are significantly lower than the UK for comparable offerings.
Both the Costa Blanca and the Costa del Sol in Spain boast thriving and vibrant communities formed of both expats and locals. As such they are a favourite location for buyers looking at places they are likely to enjoy social and sporting activities all of which add to the great quality of life.
In short if the time has come to inspect life and what you want out of it, Spain is a good bet for a place to purchase a property and settle down.
