{"id":8909,"date":"2022-01-21T14:55:14","date_gmt":"2022-01-21T11:55:14","guid":{"rendered":"https:\/\/alegria-premium.com\/?p=8909"},"modified":"2022-01-21T15:06:19","modified_gmt":"2022-01-21T12:06:19","slug":"buying-property-in-spain-after-brexit","status":"publish","type":"post","link":"https:\/\/alegria-premium.com\/en\/articles\/buying-property-in-spain-after-brexit\/","title":{"rendered":"Buying Property in Spain After Brexit"},"content":{"rendered":"

On January 31, 2020, when the UK has officially withdrawn from the European Union, this event aroused numerous issues and doubts. Among other things, will brexit affect buying property in Spain? Can you buy a property in Spain after brexit? Will Brits continue to purchase real estate in EU countries, and particular Spain? What the difference for both parties to a transaction (sellers and buyers) will exist regarding new rules? How will the Spanish property market respond to Brexit since 2022? Let’s discuss that in our article.<\/p>\n

Brexit and Spain Property: The British are Leaders Among Foreign Buyers of Spanish Properties<\/h2>\n

Spain is one of the most preferred destinations for immigration for the Brits, and there are reasons for this: the quality and cost of living, a wonderful climate with an abundance of sunny days, a developed service sector \u2013 all this seems very attractive for British nationals. According to statistics 2020 from the Spanish Ministry of the Interior, there are about 370,000 Britons permanently residing in the country and this is the third largest national group of immigrants in Spain.<\/p>\n

In the meantime, a much larger number of Britons \u2013 according to various sources, from 800,000 to 1,000,000, own real estate in Spain. Demand for Spanish real estate among British buyers has grown up by 39% in January 2021 in comparison the same month in 2020, regarding to real estate company Taylor Wimpey Espa\u00f1a, supposing Brexit can\u2019t hardly stop British lovers of Spanish resorts.<\/p>\n

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Many of the British citizens who have chosen Spain for permanent residence selected the option of purchasing real estate in this country, including the elite one, which allows them to take advantage of the Golden Visa program.<\/p>\n

Spanish real estate<\/a> is in great demand among British buyers, firstly, due to an amazing price\/quality ratio compared to other European countries, and secondly, due to low mortgage rates.<\/p>\n

Even in the two main Spanish capitals \u2013 Madrid and Barcelona \u2013 the most expensive cities in Spain, the cost of real estate is an order of magnitude lower than in such European cities as Paris or Berlin.<\/p>\n

While Madrid and Barcelona are the most desirable immigration destinations for Brits, coastal areas like the Costa del Sol and Costa Blanca continue to be enormously popular.<\/p>\n

Both these areas beckon the inhabitants of Foggy Albion, first of all, for their sunny Mediterranean climate (the local winter isn\u2019t much colder than the British summer). Also, the closeness the sea and well-maintained beaches, safety and relax, fine gastronomy and an abundance of entertainment for every taste and budget. Furthermore, real estate prices here are lower than in Madrid (3.700 \u20ac\/m2) and Barcelona (3.932 \u20ac\/m2).<\/p>\n

The province of Alicante is allocated especially, with its magnificent Costa Blanca area. The property cost here is very affordable \u20131,697 \u20ac per sq.m. on average (idealista.com as for December 2021), and the climate conditions, infrastructure, local meals and great sunny beaches are unrivaled.<\/p>\n

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Will brexit affect buying property in Spain?<\/h2>\n

Regarding to the data of the College of Registrars, in 2017 the number of transactions for the purchase of real estate in Spain fell by 9.4%. In 2018, it increased, but in the 3rd quarter of 2019, a drop was recorded once more. In 2020, it fell again by 12.2%. Official data for the whole of 2021 are still unknown.<\/p>\n

By the way, COVID restrictions 2020 has more influence on the Spanish property market than Brexit:<\/p>\n