Property owners concerns over the Brexit decision

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BREXIT: A perplexing situation for property owners in Spain.

THE date is getting closer, yes you guessed it, Brexit. Never too far from political debate, a Brexit is a concern to many home-owning expats and potential investors in the Spanish property market. Spanish property owners are now asking some important questions on the practical elements of what a Brexit would mean. For example, is it worth becoming a Spanish national? 

Commercial director of Judicare Group, a large legal property group, Peter Esders has said if the exit does go ahead on June 23 then the likelihood is a treaty will be put in place to protect expats which will maintain the status quo although this cannot be guaranteed. Judicare has had inquiries from clients asking if it is worth getting Spanish nationality in advance of buying a property just in case Britain exits Europe.

Mr Esders said: “Cameron has struck a deal with the other EU leaders for changes to the British membership of Europe. On the other hand there is a call to exit Europe. Whilst the deal that Cameron has struck has been widely reported, what doesn’t seem to have been talked about in great detail is the effect of a full exit.” 

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People buying and owning property within Europe have several concerns and these predominantly revolve around the ability to buy property. 

Presently within the EU we have the right to buy property without having to apply for permission from the government of said country. That should not change under the Cameron deal. 

On the other hand if there is a full exit from Europe then in theory this could become a necessary feature. In non-membership countries it can be usual for buyers to seek permission from the government before a purchase which feasibly could be the case for the UK in the wake of a Brexit.  

2 COMMENTS

  1. Yes it ‘could’ be but then Spain ‘could’ also not create restrictions on the British so they don’t damage property sales and income from taxes on property sales any more than the Spanish system already has!

    To be honest if the recent and current practices of the Spanish and local governments in Spain have’t already put people off buying property here then I doubt a Brexit will make it any worse or any more worrying. If it where me I would worry more about loosing my investment here ‘money or bricks and mortar’ through Spanish practices and how they interpret their regulations and punish the investor rather than the official who screwed up.

  2. More scaremongering. English people owned property in Spain before the EU and will continue to do so after. British people also own property in Australia, the USA, Canada and many other countries not in the EU. The Brexit will not make a scrap of difference to it. I don’t know what is wrong with people’s memories but the UK survived pretty well for many thousands of years as a world leader in many fields BEFORE the advent of the EU and will continue to do so without it.

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