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News: Spain set for a possible Boom in Property Sales from the UK after EU Vote

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Spain set for a possible Boom in Property Sales from the UK after EU Vote

As we edge closer to the June 23rd voting date to decide whether or not the UK is to 'Remain In' or 'Brexit from' the EU, there is much eager anticipation here in Spain of a boom in Spanish Property Sales if - and when - the vote (as hoped by the majority of British Ex-Pats living here) confirms the desire of the British Public to remain as a stalwart member of the European Union.

According to the latest opinion polls in the UK, a 'Stay' result is still 'odds-on' favourite, with the 'Remain' camp slightly ahead on 48% to 41% for the 'Brexits', although opinion polls can actually change quite rapidly. This positive feeling that the UK will - in fact - remain after the vote, however, is nevertheless matched by a slight rally and upturn in the currency exchange market, which has today risen to €1.3139 to the £1 sterling, after recently falling to the low and mid €1.20's for the £1 sterling.

The British Bookmakers are renown for usually getting their predictions right, and they are offering odds of 4 to 1 on (a bet of £10 wins £4) for the UK remaining; whilst offering odds of 1.7 against (a bet of £10 wins £17) for the UK to 'Brexit' the EU.

Anticipation of a favourable result of the British vote has already partially affected the Spanish Property Market by helping to produce a massive annual increase of almost 40% in applications for building permits this year, and the fact that Spain definitely remains the favourite holiday home destination for British people because property and the fabulous lifestyle here is still much more affordable than it is in the UK.

Most certainly, a 'Remain' vote on June 23rd will trigger a further surge of interest and confidence sufficiently for even more Brits to pursue their search for a fantastic value holiday home here in Sunny Spain!!



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