One thing we are able to guarantee is that the sun will still shine when you come to the Costa del Sol, the lifestyle is still thriving and many people are still buying properties here on the coast.
Whether you are thinking of enjoying the coast playing golf in the January sunshine, eating and drinking by the pool or sea, life here on the coast will not change.
Whether Brexit is a no deal or not, no one knows yet, one thing we can be sure of is not a lot will change, so why worry about it?
FACT: Bunch of Unfounded Claims from the media that continually makes us worried – 2 years of lies fed to the people!
Over the past decades, many outside EU countries have regularly bought here on the coast and throughout the EU, they never had the privileges of being part of the EU making things a lot easier for those within the EU. Whether it is related to healthcare, taxes, buying properties, renting and everything related for an outside the EU citizen to buy here was never a concern for them because it was possible with minimal problems or penalties. The reason I mention this is because these are the major concerns for those who are concerned what if we leave the EU…
“The” Brexit will be no different for those looking now or later to buy a property abroad, the only concern which will affect those buying abroad will be related to the currency exchange, what rate will it be now, later and after? However, this concern can also be resolved quite easily by talking to us and identifying different solutions for your needs. All you have to do is give us a call to discuss them with us.
The “VISA” concerns?
Whether you are in Spain, France or the UK, how many people live and work from outside the EU? Has this ever been a problem for them? No! The number of American, Australians and other non-EU countries who own a property here in Spain do not need a Visa to visit their homes, as long they do not extend the 180 days per year.
The systems will change; of course, however, the difference will be that a little more paperwork and preparation will be needed, that’s all. The systems to get hold of a tourist/work visa will be set and simple to get. However, we have been assured that millions already living outside and within the UK, that nothing will change for them and for those in the future if this deal does not change when it was first approved a few months ago.
Buying a property concern?
The EU four freedoms for Goods, Capital, Employment & Services is not part of buying a property abroad, so buying a property abroad will not be affected.
Visiting Spain for holidays:
If no deal, Travel Insurance will be needed – these can cost a maximum of £80 per year for a whole family, and many banks now offer these services included in your accounts and/or Credit Card.
Relocating to Spain:
EHIC will continue if a deal has been approved and nothing will change, if No Deal happens; Health Insurance may be needed until a new EHIC strategy has been finalised.
I want to become a resident of Spain?
Mentioned above, how many non-EU citizens live, work and holiday within the EU? Millions do and there are no problems for this. If you intend to stay less than 180 days every year; you are allowed complete free access up to 90 days within the 180 days of free travel to and from Spain. For more than 180 days per year will depend on your personal circumstances.
Working in Spain, you will need a work Visa as the worst-case scenario and if you are retiring in Spain proof of income may be something they ask for. However, looking at the low standard of living here in Spain this should not be very high. France asks for 10,000€ per year per person or 15,000€ per couple.
Alternatives that some of you may not know:
“Golden Visas” have been around for many years for all non-EU citizens, Spain will grant a 10-year renewable Visas to anyone investing 500,000€+ within Spain loan free.
Irish passports? Did you know that millions of UK residents can apply for an Irish passport quite easily?
What we think!
Buying a property in Spain and Brexit should not be a concern, nothing will change except for maybe a little more paperwork to fill in. Spain will not make it hard as they know their GDP is dependent on UK traffic for tourism and investments. Where we believe the major obstacle is with the currency fluctuations, we all remember still today rates of 1.5 to the pound, where many managed to buy cheaply in sterling, we currently stand today at 1.12 interbank (4th December) – many solutions exist to use the currency in your favour, having a currency expert in house who worked directly for overseas buyers buying and selling properties for over 3 years, we can discuss options with you that may be suitable.
Will it ever go back to 1.2? 1.4? Or will it crash to parity? The question should be put elsewhere, can I afford today to buy a property at the current rate? If you can, fix the rate today and stop worrying if it may fall to parity or even a few points as this can change every day.
On the other side, many UK vendors are selling taking advantage of the low rate repatriating their funds back to the UK and making a profit when they probably bought when the rate was around the 1.4. This means if you are lucky enough to find a property where the vendor is from the UK, you may have amazing deals on offer today.
The only thing we believe, is that, if you can afford it now, in the current market we are in, there shouldn’t be any reasons why Brexit should make you wait. Property prices here have been increasing steadily since 2016 and the market is still growing, the more you wait the more new properties are increasing in price especially on the new modern developments – when a year ago we were able to offer our clients modern properties from 150,000€ now we struggle under the 250,000€ mark in just 12 months.
We are not here to push or create urgency, however, we are here to help you make an educated decision with facts rather than unfounded news that have been fed to all of us for the last 2 years!