Brexit hits Spanish Property Sales

Whether you are in favour of Britain leaving the EU or prefer leaving things just the way they are between Europe and the UK, everyone must agree that the lack of honesty, integrity and professionalism shown by those who are charged with arranging the transition from both the EU and UK Governments has caused years of stress and uncertainty for those who these officials are mandated to protect. EU citizens living and working in the UK, including hundreds of thousands Spanish nationals, are in similar positions to Brits living, working or retiring within Europe, uncertain of rights, systems, futures and as the farce continues to roll on millions are now worried about property prices. causing stagnation in the market and fears of another collapse. Politicians have never been the most honest people in any community, second only to Lawyers in the tables for ”Least Honourable Career Choice” and probably Top of the charts for people you would not want to leave responsible for your elderly parents, sick relative or young children for any extended period. However, we keep electing these people to control our money, laws, communities and relationships with other nations when so few of them have shown any ability to think beyond their next fraudulent expenses claim. Regardless of the benefits or problems caused by the UK referendum, to still be arguing about its validity without having a well thought out plan for the implementation of an exit that all concerned could understand after 3 years is both irresponsible and displays the lack of concern for the 500 million people who pay the salaries and huge financial packages of the European political “elite” including those in the United Kingdom.

BRITISH VENDORS WORRIED

British vendors in Spain are worried that the Pound will fall drastically so reducing the money they can take back to Britain when they sell, buyers are worried that investing in Spain will see low returns if tourism is reduced in favour of cheaper resorts in countries outside of Europe once the free flow is gone for British citizens, and UK buyers are concerned that the pound will go either direction and see their investment rise or fall by a third or half overnight as currency rates change. When buying a home is as sure a bet as going to the Casino, most people act like a deer dazed by the headlights of oncoming traffic just waiting for the Big Bang. None of this is good for the property industry, buyers, vendors or investors, however, for the 95% of property transactions in Spain which are non-speculative, there is in fact very little to be concerned about.

NOTHING TO WORRY ABOUT

In the long term, and most property is purchased as a long term consideration, the signs for Spain are good, with more taxes being collected, less corruption, greater investment in industries outside of tourism and agriculture, together with some of the worlds largest players investing Billions into the country, only those who panic buy or panic sell will be affected by the BREXIT farce. Spain has some really large and unique factors in its favour that will secure future property values and returns on investment long after the UK leaves the EU or decides to remain or becomes a dependency of the United States or Saudi Arabia - none of which should concern owners of property in Spain.

BRITISH TOURISM

Hundreds of thousands of properties are owned by British residents and non-residents - many of which are rented to British tourists through private advertising, word of mouth and even AirBnB style websites, creating an independent marketing force actively targeting UK visitors to spend their money here. No other country has so many individual property owners from the UK promoting tourism at no cost to the local government. British will want to come vacation in Spain and spend their hard-earned Pounds for decades to come regardless of Brexit.

BRITISH PROPERTY INVESTMENT

British people love the Spanish people, they don’t like Germany, Italy is expensive, France is full of French people, and Greece is in a bit of a mess, leaving only Portugal and Spain with the sun, sand and relative stability to buy a vacation home, reside or retire. Right now, there are profits to be made and bargains to be had taking advantage of the crazy way that Brexit has been mishandled and the fear it has caused, and that does not mean that property values are dropping or rising in any particular area. The deals now are available, buying from owners without the confidence to wait for Brexit to be over.