The real problem of the promoters in Spain is not so much the impact of Brexit on the number of homes sold to British, but the change of preferences in that market. After the small slump registered in 2017, following the referendum that approved the departure of the United Kingdom from the European Union, the truth is that the purchase of homes by British citizens in our country has recovered the levels in which it was in the stage prior to Brexit....continue reading "The British return to buy house in Spain, but second hand"
Brexit is bad news for the recovering Spanish property market with a real estate conference in Marbella hearing that it is already having an impact with a fall in British buyers.
Interest from British buyers in locations like the Costa del Sol where they have been the biggest group of foreign buyers for many years, began dwindling in the run up to the European Union referendum in June and since.
Property expert Mark Stucklin told the conference, organised by Spanish appraisal company Tinsa, that British buyers made up 36% of foreign market in the Malaga province last year, more than double the next biggest group from Sweden and 50% of the top six markets combined.
He believes that when reliable figures are made available they will show a big decline in British purchases, perhaps 50% or more in the six months after Brexit. Stucklin said that he also spoke to other property industry professionals at the conference, including lawyers and estate agents and most of them said that Brexit is having a significant negative impact on their business.
...continue reading "British buyers down in Spanish coastal areas due to Brexit"