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So it finally happened! Humpty Dumpty definitely fell off the wall with a massive impact as he hit the ground!! This - of course - a result of the extremely unexpected vote of the British people to leave the EU last Thursday 23rd June.

How, we ask ourselves, is this decision going to affect the Property Market in Spain? Whilst it is not the result that the majority of the Ex Pats living in Spain and other Member States wanted, nevertheless I do not think that very much will change in the near future.

Certainly, whilst uncertainty for the future is still raw, whilst the pound remains at its lowest against the euro for several years, British Holidaymakers will find that their spending money does not buy as much as it did a year ago, and the cost of their holiday increases accordingly. That will NOT stop those British Holidaymakers from coming here and - eventually - the pound Sterling will strengthen again, once the furore has died down.

The same applies to those Brits who wish to buy their holiday homes or retirement villas in Spain - which will always remain a desirable destination, owing to its laid-back quality of life; its sunny and temperate climate and comparatively low cost of living.

Property prices - in real terms - here in Spain today are still up to 50% cheaper than they were 10 years ago!! Just think what a wonderful opportunity that provides for a solid investment in bricks and mortar. It is a fact that anyone can buy a two - bedroomed apartment (with access to a communal swimming pool) for LESS than they would have to pay for a garage to park their car in London!!

Data here in Spain shows that between April 2015 and March 2016, a total of 419,396 homes were sold in Spain - an increase of 13.4%, compared to the previous 12 months. It has officially been estimated that 140,000 homes per year will be needed to be built in Spain up until 2025 to meet the need of the Market. By then, it is expected that property prices will have returned (RISEN) to 2007 levels.

In theory, therefore, it is possible for anyone buying a property in Spain today, to have DOUBLED the value of their property by 2025!!

How's that for putting Humpty Dumpty together again!!

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Re-open for business

Newstart Estates will be opening again on Monday 11th May. Please note that visits are by pre-arranged appointments only and all visitors will have to wear masks and gloves. We will be observing social distancing very carefully and we will provide gloves and hand sanitizer for all visitors....

11 May 2020
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