By Laura Kemp • Published: 06 Oct 2021 • 17:10
Brits are selling their houses in Spain because of Brexit. Photo credit: Shutterstock
According to sources, Brits are selling their houses in Spain because of Brexit. Retirees who chose Spain as their new home are apparently leaving the Costa del Sol “en masse” because of the stricter immigration rules imposed by Brexit and the higher cost of health care expenses.
This information does not coincide exactly with what is shown by various sources in the Spanish real estate sector, which point to a “trickle” trend in home sales.
According to official data from the College of Registrars, the British, who have traditionally led very prominently in the purchase of houses in Spain, continued in first position in the second quarter of 2021. However, it registered a record low with just 9.5 per cent of total purchases, and Germans catching up at 9 per cent.
The European Union has undoubtedly accelerated the collapse. In fact, the British accounted for almost 35 per cent of home purchases in Spain by foreigners in 2010, with an advantage that year of more than 25 percentage points over the French and Germans.
Ferran Font, Director of Studies at piso.com, said: “Brexit is undoubtedly a factor that affects the sale of homes in Spain, but above all because it is perceived that the British are stopping buying homes in Spain.”
He emphasises that “since 2020, also coinciding with the coronavirus pandemic, the representativeness of the British in buying and selling in Spain has plummeted to a minimum, while the French remain and the Germans even rebound.”
This supposed avalanche is not perceived by Emiliano Bermudez, deputy director-general of the real estate agency donPiso. He says of a “dripping trend of house sales by the British since last Easter, but not en masse.”
However, Bermudez does see “a very pronounced collapse in the purchase by the British, who historically, and by far, have been the foreigners who have bought the most housing in Spain.”
In his opinion, “this consequence derived from Brexit will affect the real estate sector of the Mediterranean arc, coastal provinces of Andalucia and the Canary Islands.”
Javier Castellano, Communications Director of the Gilmar real estate agency, an agency which is popular in Madrid, on the Costa del Sol (Malaga) and in other parts of Andalucia such as Cadiz, denies that houses are being sold en masse by British residents: “We are selling a lot of new construction, especially in municipalities like Estepona,” he stressed.
He adds: “There may be some British retirees who return to their country for sentimental reasons, but they do not leave en masse. Surely the London taxi driver who dreams of retiring in Marbella, where the weather is fantastic, is going to do the same no matter whether Britain leaves the EU.”
Gilmar’s spokesman, however, does admit that there are changes in home buyers on the Costa del Sol, “with significant growth by the Dutch, Danes, Swedes and also by the Russians.”
Sources from the College of Registrars claim that, in the absence of data for the third quarter of 2021 which will be released in November, it is clearly confirmed that the British are buying less housing in Spain, and that is a trend that is dragged for years.
“Brexit will surely be noticed, but to speak now of mass sales without our official data is to speak of hearsay,” they underline.
Thank you for taking the time to read this article, do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you don't already have one. Review our Privacy Policy for more information about our privacy practices.
Originally from UK, Laura is based in Axarquia and is a writer for the Euro Weekly News covering news and features. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com.
“Retirees who chose Spain as their new home ”
People who choose a new home have to register after 183 days, even EU citizens, they are illegal, undocumented immigrants and tax evaders after that limit. Spain wants you to pay your taxes in Spain if you live there most of the year, what 183 days IS.
What’s not to like? Prices for houses are down a lot and we EU citizens can make great deals.
Bye bye. Don’t let the door hit you on your way out….:-)
The majority of Brits selling up and leaving Spain are the ones who have been living here ‘illegally’, ie; non residents and who don’t pay taxes in Spain. So good riddance, your days of living under the radar have gone for good. Hah.
Please explain what I now need to do to buy a property and live full time in Spain. I am a retired UK citizen and appear to be prevented from a life in Spain by the 90 day limit rule. Will I need to apply for Spanish citizenship and revoke my UK citizenship? Will I need a special visa to spend the whole year in Spain?
Comments are closed.
By signing up, you will create a Euro Weekly News account if you don’t already have one. Review our Privacy Policy for more information about our privacy practices.
Download our media pack in either English or Spanish.