Youghal a ‘hot spot’ for US retirees

Forget about Hawaii or Florida, the buzzword among American retirees is Ireland, either Youghal, Co Cork, or Co Clare — either of which when it comes to affordable homes is hotter than anywhere Stateside.

Youghal a ‘hot spot’ for US retirees

According to US News & World Report, an influential, Washington-based magazine, the East Cork seaside town is one of five regions in Europe where older Americans should consider settling down.

In an article, entitled 5 Retirement Havens in Europe for Less than $100,000, writer Kathleen Peddicord says some Americans would opt for Europe if they could find an affordable retirement home.

“In the current climate of crisis, economies, markets, and values are down as they have not been in decades in some of Europe’s most appealing places to spend time and retire,” she writes.

Then she lists “five of the Old World’s most tempting retirement havens” where you could own a retirement home of your own for less than $100,000 (€78,000).

Another US publication, AARP The Magazine, which has about 47m readers, also has Ireland in its sight, specifically Co Clare.

Of the 15 most favoured destinations worldwide, the magazines places Clare at No 6, ahead of Thailand, Greece, Portugal or Mexico, among others.

Peddicord goes into a bit more detail, with her house hunting and among her bargain-bunch are:

Euro Bargain 1: The medieval town of Penne in Abruzzo, Italy is only 30 minutes from the Adriatic Sea and an international airport. Here you could buy a two-bed apartment of about 1,000sq ft for €50,000.

Euro Bargain 2: The French town of Estagel is 30 minutes from the Mediterranean Sea outside Perpignan. On offer is a two-bedroom, 1,200sq ft, loft-style apartment, ready to move into for €68,000.

Euro Bargain 3: The town of Youghal is on the border between Co Cork and Co Waterford, Ireland. On the strand of this picturesque seaside town, you can buy a modern one-bedroom apartment for €49,000 that would put you within walking distance of the beach.

Euro Bargain 4: In Spain, the number of properties available right now for less than $100,000, including in this country’s most appealing corners, is great. One quaint option is a one-bedroom apartment in Jerez de la Frontera near Cadiz. The list price is €69,000.

Euro Bargain 5: In the coastal town of Santa Maria in Lagos, Portugal, you could buy a furnished, two-bedroom apartment in a modern building for €75,000 within walking distance of the ocean.

However, not everyone is cut out for life in the tropics, says Peddicord, the founder of the Live and Invest Overseas publishing group and whose book, How To Retire Overseas, was recently released by Penguin Books.

That may be just as well, as the one thing Youghal doesn’t have that the other four European havens enjoy in abundance is sunshine.

Both Cadiz in Spain and Lagos in Portugal enjoy about 300 days of sunshine a year, and are hotter even than California.

Perpignan in France and Abruzzo in Italy are not far behind with 260 sunny days annually.

In Youghal, part of the Irish Riviera, the sun shines for fewer than 70 days a year, and even less in Clare.

But that may just be what American retirees like: The Goldilocks factor where the climate is neither too hot nor too cold, but just right.

FOR MORE: THE CHEAPEST PLACES TO RETIRE

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