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News: IS IT WORTH BUYING A PROPERTY IN SPAIN POST BREXIT?

25 Jul 2017 Back
IS IT WORTH BUYING A PROPERTY IN SPAIN POST BREXIT?

As 'Brexit' is finally beginning to take on a sense of reality, with constant Government meetings and subtle negotiations now actually happening, many British potential buyers of Spanish property are starting to ask themselves whether it is possible that 'Brexit' will prevent them from buying property in Spain.

The answer is that many UK buyers, who committed to purchasing a Spanish property before the referendum of 2016, simply went on to complete their purchase - and the reality of 'Brexit' itself has not stopped potential UK buyers from looking, even with a reduced budget. As far as Spain is concerned, with its great access from British airports; all-year round sun; beautiful beaches; friendly culture; fiestas and tasty cuisine, it remains very much a top destination for British buyers.

Property prices across Spain are rising slowly but still competitive, and a 'buyers' market' situation prevails. Don't be afraid to make an offer on a Spanish property to offset the lower exchange rate. When it comes to the crucial moment in the price negotiation process between sellers and buyers many estate agents advise that in some cases it's possible to successfully negotiate a discount on the initial price, but bear in mind properties in Spain are sold furnished and this may also reflect in the offer that it made.

It is always advised to carefully calculate your budget to take into account the purchase price, taxes and costs. Depending on the region you buy in, property tax varies. In the Costa Blanca region, it is 10% on second-hand properties and does vary up and down Spain.

Basically, 'Brexit' is making little difference to British Buyers. Since the 2016 vote we ourselves have seen a rise in British buyers with many people now relocating on a more permanent basis.

The order of the day is 'Business as Usual'!!



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