How could the purchase of a property in Spain be after the Brexit?
One of the many questions that many Britons ask themselves about Brexit is how will the purchase of a property in Spain after the Brexit be. It is important to bear in mind that the British, thanks to their purchasing power and economy, are foreigners who buy more properties in our country to have as a second home as well as for a holiday home.
This is something that not only affects them but also the Spanish real estate sector, but we must not be alarmed. According to Keiran Bowtell, public policy attaché of the British Embassy in Spain, despite the Brexit there will be no significant impact in relation to the purchase of Spain by British subjects.
The British are the leaders in the purchase of real estate in Spain
In our country there are around 300,000 Britons, being the main foreign buyers of homes, representing 15% of the total. The English have more than 100,000 homes in our country, a figure that remains more or less stable over the last decade.
According to Bowtell, what is clear is that the English country is negotiating a future framework with which to reduce uncertainty about the real estate market and not to happen again what happened in 2017, for example. The Brexit effect caused the British to buy fewer homes than in the previous year, below the 9,200 transactions, assuming a fall of 10% year-on-year.
The British will continue buying in Spain because their economy is strong, they have a very low unemployment rate and salaries are rising. It can be said that, at least for the time being, the Brexit effect is not having a strong impact within the Spanish real estate market, although we have to see how everything develops. Therefore, it is recommended to always have the advice of professionals in this field.