Recession hits retirees living abroad

Britons looking to retire abroad to traditional European destinations such as Spain and Portugal have been warned to think twice about their decision by the Government.

The global recession and plummeting interest rates have hit many retired Britons in the UK but combined with the deterioration of the Pound against the Euro many expats like Terry and Heather Sharkey found their monthly income greatly diminished and therefore their standard of living in Spain significantly affected. Upon deciding to return to the UK, the couple invested in brand new home at Crest Nicholson’s Maple Tye development in Stowmarket, Suffolk.

With the Spanish property market starting to falter and prices dropping rapidly, Terry and Heather decided to re-invest their money back in UK property market sooner rather than later. Terry, 68, explains: “The economic climate was a major factor in buying our new house back in the UK. The downturn had seriously affected my pension and we didn’t feel that we had the lifestyle that we had wanted or the security that we needed in Spain.”

Maple Tye is a popular development comprising a brand new collection of one and two bedroom apartments, two and three bedroom cottages and three and four bedroom family houses just a short walk from the centre of Stowmarket. Terry and Heather had many friends living in the area and therefore were keen to return. A friend had recommended the development therefore they decided to take a look.

Terry explained their decision to buy a home at the scheme: “A friend recommended Maple Tye and it was an easy choice to buy a home here because we really liked the community feel, not to mention the high specification of the houses.”

All homes at Maple Tye are finished to a high-standard and a ready to move straight in to. Kitchens feature fully-fitted units complete with a range of smart Bosch stainless steel appliances including oven, hob and extractor hood along with an integrated fridge/freezer. Well designed bathrooms include contemporary white sanitaryware complete with chrome Hansgrohe accessories.

“After a year in Spain we knew we wanted a new property because we didn’t want to be worrying about DIY and having to fit a new kitchen or bathroom. We’ve had no problems and are both happy to be back” Terry continued.

Just one mile from the centre of the ancient market town of Stowmarket, properties at Maple Tye provide all the essentials of modern living; surrounded by some of Suffolk’s most beautiful countryside and close to Stowmarket Station, commuters to the Capital can reach London Liverpool Street in just 75 minutes, whilst Norwich is just 35 minutes away.

Annette Cole, Sales and Marketing director for Crest Nicholson (Eastern) commented: “Mr and Mrs Sharkey’s story is fascinating, especially for those of us who dream of retiring to the sun one day. It is clear that despite the current economic climate and adjusting prices, the couple still feel the UK property market is a safer investment and the way forward in securing their future. The homes at Maple Tye are ideal for retiring couples like Terry and Heather as they truly are low maintenance and highly energy efficient, meaning lower bills.”

Prices for one bedroom apartments start from £89,995, two bedroom apartments from £117,000 and four bedroom detached houses from £187,000. For further information about buying a home at Maple Tye, log on to Crestnicholson.com/cedarspark.