The top destinations for British expats in the European Union are Spain ...continue reading "Brexit: What does leaving the EU mean for expats?"
The number of homes in Spain sold to British buyers has slumped since the Brexit vote and the fall in the value of the pound.
Sales in the third quarter of this year declined 16% after steadily increasing since 2011. Last year the strong pound led British buyers to purchase almost 10,000 Spanish properties, up 42% on 2014, giving them a 21% share of the number of homes acquired by international buyers.
No other nationality buys as much property in Spain as the British, and in recent years they have made a significant contribution to the recovery of the Spanish property market.
About 28% of holiday homes on the Costa del Sol are sold to Britons and 26% on the Costa Blanca. They also dominate the sales of holiday homes in Murcia, the Canary Islands and the Balearics.
...continue reading "Brexit vote dents British demand for Spanish property"
Is a weak pound and the uncertainty accompanying the Brexit vote having or likely to have an impact on the British demand for property in Spain?
It is also expected that the buying pond for British owners wishing to sell and return to the UK may also evaporate somewhat in the short term.
However this is not a view shared by those on the ground. Gary Oliver, sales director of Remax property agents, thinks not.
“We do expect some buyers may hold off to see what the coming weeks and months will bring but with little long term impact,” he says.
...continue reading "Brexit has not affected property sales so far, say Costa del Sol real estate experts"