Spain remains a wonderful Country to buy that dream holiday home in the sun despite Britain’s decision to leave the European Union.
We appreciate that people may have concerns about the future, so we have set out the facts to set the record straight:
- As far as purchasing property in Spain or elsewhere in Europe is concerned, Britain is still a member of the EU. This is not something that has changed overnight. It is likely to take a minimum of two years before the UK officially leaves the EU, meaning British citizens still have the same rights as they did last week, last month, last year…so the right to buy a property has not been effected.
- Non-EU buyers benefit from very similar rights to EU buyers, so leaving the EU is quite unlikely to have a huge impact on British property owners in mainland Europe.
- Regarding the recent fall in value of the Pound against the Euro, this is probably just a short term fluctuation while markets adjust to the new situation. The UK Stock Market recovered to better than pre-Brexit levels within a few days of the result and the Pound is also steadily recovering against the Euro as confidence comes back into the markets.
- It is worth bearing in mind that in relative terms Spanish property is still 32% cheaper than their peak values of 2007, so there are still bargains to be had.
- Confidence is returning to the Spanish market property and we are now seeing a lot of new developments being built on the Costa del Sol with an increased level of buyers from many parts of the World.
- In summary, it is still safe and straightforward to buy a home in Spain and there are bargains available. Why not let us show you some on your next visit?