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.”
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.