Worried about brexit?

Do you want to put

your savings in safety?

Worried about brexit?

Do you want to put your savings in safety?

Worried about brexit? Do you want to put your savings in safety?


There appears to be a lot of talk about the risks associated with buying and selling property in Spain throughout the media, especially since Brexit. However, most of the things being said are not true and are being based on decisions made out of panic.


Therefore, we thought it would only be right to give our professional opinion on the situation with our 11 reasons to buy and sell property in Spain.


Our 11 Reasons To Buy & Sell Property In Spain


The flux in the Pound to Euro has brought exciting opportunities for sellers and buyers alike.
If you are a Brit selling, you will have seen the value of your property increase by 20% since Brexit.
If you are a Brit buying, you will find some Brits have reduced their prices by 20%. So, for Brit buyers, there is no increase in price.
In the UK market, there is a 3% uplift on stamp duty if you are buying to rent, whereas in Spain there is no uplift.
Spanish banks like Banca March and Sabadell (part of TSB), offer mortgages that are not as stringent as the UK.
You don’t need a buy-to-let mortgage when purchasing property to rent in Spain.
All buying and selling costs in Spain are considerably lower than the U.K.
The Spanish Government has said they do not want to loose the 500,000 British people that currently live in Spain, despite Brexit and will put steps in place to protect Brits.
In Gran Canaria there is a strong English community
The Canary Islands are in Europe at 100%
Thanks to Spanish and European aid, strong economic growth is underway (more than 5% per  year)


Foreigners living in Spain are more active


Foreigners living in Spain recorded 56.195 operations, 14.7% more than in 2017.
Non-resident foreigners bought 46.717 properties, an increase of 3.8% year-on-year.

Most active regions – The Biggest activity of foreigners vs Spaniards?


According to the “Colegio de Registradores de la Propiedad”, the Autonomous Communities with a greater weight of foreigners’ transactions vs Spaniards in the third quarter 2018 are

The Balearic Islands with 27.9% of all transactions,
The Canary Islands with 25.3% of all transactions,
The Valencian Community with 25% of all transactions,
Murcia with 18.9% of all transactions, – (Our preferred region – Number 4 out of 17 Autonomous Communities)
and Andalusia with 12.4% of all transactions.

Non EU people have no problem buying property in Spain


The Swiss, Norwegians, Americans and citizens of many countries outside the EU, have all been buying property in Spain without problems of any kind for years. It will be just the same for Brits post Brexit but probably easier.


I believe it is most unlikely that Spain will single UK citizens out for especially unfriendly treatment not least of all because of the number of Spaniards living in the UK that would be vulnerable to reciprocal unfriendliness. The fact is that, despite Brexit, it is in everyone’s interests to cooperate.


So here is the list of what everyone is scared about:


Number one is the list itself: uncertainty


What will happen? We don’t know! That is very scary. Not a very clever reason to be scared I think you’ll agree but nonetheless the most potent and ironically the most real!


Healthcare


At the moment you are covered if you’re on holiday and if you have retired. So if healthcare arrangements change this could be a factor for anyone thinking of spending their dotage in Spain and in cases where frequent visits to hospitals may be needed. I expect most people will go back to the UK for their final years anyway or if they had some debilitating illness. In my opion reciprical healthcare arrangements will remain unchanged. A reciprocal agreement is in everyone’s interests.


Pensions


If you are drawing a pension you can draw it in the UK and transfer it over. So you carry an exchange rate risk and have to pay more in bank charges. This is probably a relatively minor risk for most people bearing in mind the other factors involved. I suppose if things are really tight and you are selling up and moving over forever this could be a factor. For expats with private pensions there will be QROPS, which are much more tax efficient than for UK residents and these are available now.


Extra Property Taxes


Although this is possibly the most scary factor I can’t think the Spanish would tax the Brits above the Swiss and Norwegians. I accept of course that a lot of mad stuff does go on in Spain but I think this one is unlikely.


The Right to Work


This is probably the most likely to change as it looks like the UK wants to restrict the EU citizen’s right to work in the UK. I am tempted to joke that this would be quite scary if there were any jobs in Spain and say having the right to work in Spain is a bit like having the right to grow oranges in Scotland but, seriously, this could have an effect on younger people’s decision to buy and build a home in Spain depending on how the rules change.


By the way if you already live here you are protected by the Vienna Convention of 1969, which says that the termination of a treaty “does not affect any right, obligation or legal situation of the parties created through the execution of the treaty prior to its termination. In other words you carry on as before.


Considering Buying Property In Spain?


If you are considering to buy property in Spain, you will need to make sure you follow the correct processes and procedures. To help you do everything right, we have put together a handy guide to buying property in Spain, so do make sure you take a read: Our Guide To Buying A Property In Spain. Remember to also see our Brexit Opportunities page for special offers and deals on Spanish properties.


If you have any questions, or want more information, give our friendly team a call today on (0034) 634 04 41 53  or  (0034)  928 49 70 35  or drop us an email at info@canarylife.es.

 

There appears to be a lot of talk about the risks associated with buying and selling property in Spain throughout the media, especially since Brexit. However, most of the things being said are not true and are being based on decisions made out of panic.

 

Therefore, we thought it would only be right to give our professional opinion on the situation with our 11 reasons to buy and sell property in Spain.

 

Our 11 Reasons To Buy & Sell Property In Spain


The flux in the Pound to Euro has brought exciting opportunities for sellers and buyers alike.
If you are a Brit selling, you will have seen the value of your property increase by 20% since Brexit.
If you are a Brit buying, you will find some Brits have reduced their prices by 20%. So, for Brit buyers, there is no increase in price.
In the UK market, there is a 3% uplift on stamp duty if you are buying to rent, whereas in Spain there is no uplift.
Spanish banks like Banca March and Sabadell (part of TSB), offer mortgages that are not as stringent as the UK.
You don’t need a buy-to-let mortgage when purchasing property to rent in Spain.
All buying and selling costs in Spain are considerably lower than the U.K.
The Spanish Government has said they do not want to loose the 500,000 British people that currently live in Spain, despite Brexit and will put steps in place to protect Brits.
In Gran Canaria there is a strong English community
The Canary Islands are in Europe at 100%
Thanks to Spanish and European aid, strong economic growth is underway (more than 5% per  year)

 

Foreigners living in Spain are more active


Foreigners living in Spain recorded 56.195 operations, 14.7% more than in 2017.
Non-resident foreigners bought 46.717 properties, an increase of 3.8% year-on-year.

Most active regions – The Biggest activity of foreigners vs Spaniards?


According to the “Colegio de Registradores de la Propiedad”, the Autonomous Communities with a greater weight of foreigners’ transactions vs Spaniards in the third quarter 2018 are

The Balearic Islands with 27.9% of all transactions,
The Canary Islands with 25.3% of all transactions,
The Valencian Community with 25% of all transactions,
Murcia with 18.9% of all transactions, – (Our preferred region – Number 4 out of 17 Autonomous Communities)
and Andalusia with 12.4% of all transactions.

Non EU people have no problem buying property in Spain


The Swiss, Norwegians, Americans and citizens of many countries outside the EU, have all been buying property in Spain without problems of any kind for years. It will be just the same for Brits post Brexit but probably easier.

 

I believe it is most unlikely that Spain will single UK citizens out for especially unfriendly treatment not least of all because of the number of Spaniards living in the UK that would be vulnerable to reciprocal unfriendliness. The fact is that, despite Brexit, it is in everyone’s interests to cooperate.

 

So here is the list of what everyone is scared about:

 

Number one is the list itself: uncertainty


What will happen? We don’t know! That is very scary. Not a very clever reason to be scared I think you’ll agree but nonetheless the most potent and ironically the most real!

 

Healthcare


At the moment you are covered if you’re on holiday and if you have retired. So if healthcare arrangements change this could be a factor for anyone thinking of spending their dotage in Spain and in cases where frequent visits to hospitals may be needed. I expect most people will go back to the UK for their final years anyway or if they had some debilitating illness. In my opion reciprical healthcare arrangements will remain unchanged. A reciprocal agreement is in everyone’s interests.

 

Pensions


If you are drawing a pension you can draw it in the UK and transfer it over. So you carry an exchange rate risk and have to pay more in bank charges. This is probably a relatively minor risk for most people bearing in mind the other factors involved. I suppose if things are really tight and you are selling up and moving over forever this could be a factor. For expats with private pensions there will be QROPS, which are much more tax efficient than for UK residents and these are available now.

 

Extra Property Taxes


Although this is possibly the most scary factor I can’t think the Spanish would tax the Brits above the Swiss and Norwegians. I accept of course that a lot of mad stuff does go on in Spain but I think this one is unlikely.

 

The Right to Work


This is probably the most likely to change as it looks like the UK wants to restrict the EU citizen’s right to work in the UK. I am tempted to joke that this would be quite scary if there were any jobs in Spain and say having the right to work in Spain is a bit like having the right to grow oranges in Scotland but, seriously, this could have an effect on younger people’s decision to buy and build a home in Spain depending on how the rules change.

 

By the way if you already live here you are protected by the Vienna Convention of 1969, which says that the termination of a treaty “does not affect any right, obligation or legal situation of the parties created through the execution of the treaty prior to its termination. In other words you carry on as before.


Considering Buying Property In Spain?


If you are considering to buy property in Spain, you will need to make sure you follow the correct processes and procedures. To help you do everything right, we have put together a handy guide to buying property in Spain, so do make sure you take a read: Our Guide To Buying A Property In Spain. Remember to also see our Brexit Opportunities page for special offers and deals on Spanish properties.

 

If you have any questions, or want more information, give our friendly team a call today on (0034) 634 04 41 53  or  (0034)  928 49 70 35  or drop us an email at info@canarylife.es.

 

There appears to be a lot of talk about the risks associated with buying and selling property in Spain throughout the media, especially since Brexit. However, most of the things being said are not true and are being based on decisions made out of panic.

 

Therefore, we thought it would only be right to give our professional opinion on the situation with our 11 reasons to buy and sell property in Spain.

 

Our 11 Reasons To Buy & Sell Property In Spain


The flux in the Pound to Euro has brought exciting opportunities for sellers and buyers alike.
If you are a Brit selling, you will have seen the value of your property increase by 20% since Brexit.
If you are a Brit buying, you will find some Brits have reduced their prices by 20%. So, for Brit buyers, there is no increase in price.
In the UK market, there is a 3% uplift on stamp duty if you are buying to rent, whereas in Spain there is no uplift.
Spanish banks like Banca March and Sabadell (part of TSB), offer mortgages that are not as stringent as the UK.
You don’t need a buy-to-let mortgage when purchasing property to rent in Spain.
All buying and selling costs in Spain are considerably lower than the U.K.
The Spanish Government has said they do not want to loose the 500,000 British people that currently live in Spain, despite Brexit and will put steps in place to protect Brits.
In Gran Canaria there is a strong English community
The Canary Islands are in Europe at 100%
Thanks to Spanish and European aid, strong economic growth is underway (more than 5% per  year)

 

Foreigners living in Spain are more active


Foreigners living in Spain recorded 56.195 operations, 14.7% more than in 2017.
Non-resident foreigners bought 46.717 properties, an increase of 3.8% year-on-year.

Most active regions – The Biggest activity of foreigners vs Spaniards?


According to the “Colegio de Registradores de la Propiedad”, the Autonomous Communities with a greater weight of foreigners’ transactions vs Spaniards in the third quarter 2018 are

The Balearic Islands with 27.9% of all transactions,
The Canary Islands with 25.3% of all transactions,
The Valencian Community with 25% of all transactions,
Murcia with 18.9% of all transactions, – (Our preferred region – Number 4 out of 17 Autonomous Communities)
and Andalusia with 12.4% of all transactions.

Non EU people have no problem buying property in Spain


The Swiss, Norwegians, Americans and citizens of many countries outside the EU, have all been buying property in Spain without problems of any kind for years. It will be just the same for Brits post Brexit but probably easier.

 

I believe it is most unlikely that Spain will single UK citizens out for especially unfriendly treatment not least of all because of the number of Spaniards living in the UK that would be vulnerable to reciprocal unfriendliness. The fact is that, despite Brexit, it is in everyone’s interests to cooperate.

 

So here is the list of what everyone is scared about:

 

Number one is the list itself: uncertainty


What will happen? We don’t know! That is very scary. Not a very clever reason to be scared I think you’ll agree but nonetheless the most potent and ironically the most real!

 

Healthcare


At the moment you are covered if you’re on holiday and if you have retired. So if healthcare arrangements change this could be a factor for anyone thinking of spending their dotage in Spain and in cases where frequent visits to hospitals may be needed. I expect most people will go back to the UK for their final years anyway or if they had some debilitating illness. In my opion reciprical healthcare arrangements will remain unchanged. A reciprocal agreement is in everyone’s interests.

 

Pensions


If you are drawing a pension you can draw it in the UK and transfer it over. So you carry an exchange rate risk and have to pay more in bank charges. This is probably a relatively minor risk for most people bearing in mind the other factors involved. I suppose if things are really tight and you are selling up and moving over forever this could be a factor. For expats with private pensions there will be QROPS, which are much more tax efficient than for UK residents and these are available now.

 

Extra Property Taxes


Although this is possibly the most scary factor I can’t think the Spanish would tax the Brits above the Swiss and Norwegians. I accept of course that a lot of mad stuff does go on in Spain but I think this one is unlikely.

 

The Right to Work


This is probably the most likely to change as it looks like the UK wants to restrict the EU citizen’s right to work in the UK. I am tempted to joke that this would be quite scary if there were any jobs in Spain and say having the right to work in Spain is a bit like having the right to grow oranges in Scotland but, seriously, this could have an effect on younger people’s decision to buy and build a home in Spain depending on how the rules change.

 

By the way if you already live here you are protected by the Vienna Convention of 1969, which says that the termination of a treaty “does not affect any right, obligation or legal situation of the parties created through the execution of the treaty prior to its termination. In other words you carry on as before.


Considering Buying Property In Spain?


If you are considering to buy property in Spain, you will need to make sure you follow the correct processes and procedures. To help you do everything right, we have put together a handy guide to buying property in Spain, so do make sure you take a read: Our Guide To Buying A Property In Spain. Remember to also see our Brexit Opportunities page for special offers and deals on Spanish properties.

 

If you have any questions, or want more information, give our friendly team a call today on (0034) 634 04 41 53  or  (0034)  928 49 70 35  or drop us an email at info@canarylife.es.

¡Venda o alquile su inmueble!

Pida un inmueble

Suscribir
Suscribir
Suscribir

Descubre por primero las últimas propiedades en venta

Meloneras | Calle Mar Blanco 6, C.C . Meloneras Playa Planta Tercera n.312, 35100  | Gran Canaria 

(+34) 603 13 20 44

ATENCIÓN Este sitio utiliza cookies. Al navegar por el sitio estará accediendo a su uso. Obtenga más información sobre el uso de cookies.

AceptarCómo configurar