retirement

Buying property abroad for retirement

Spanish villages

Spain's housing crash has led to fire-sale prices along the coast, so Peddicord urges caution. "Many of these coastal areas are ghost towns full of new, empty condo developments," she says, expecting prices to drop further.

Instead, Peddicord recommends Spanish villages such as Martos in southern Spain, which offer cheap historical properties and rich cultural offerings. "Living in a Spanish village is like being in one big fiesta," she says. While costs are comparable to those in France, buying property in villages is cheaper, with fixer-upper town houses selling for less than $20,000, and turnkey town houses in the low $100,000s.

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