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Potential British expats queuing to purchase overseas property before it’s too late
| Published: | 28 Feb at 6 PM |
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Although Brexit is now as close as is possible to a done deal, would-be British expatriates are rushing to purchase property in Europe before the door finally closes.
In spite of the continuing risk of a no-deal exit at the end of this year and the uncertainty of future rights, Brits are rushing to buy bolt holes in mainland European Union member states. Unsteady or unfavourable exchange rates notwithstanding, the importance of getting out from under a disaster in the making is causing an unexpected exodus. European realtors and developers aren’t missing the chance of a lifetime, with the recent France Show at Olympia seeing huge queues and a sense of urgency.
Media reports claim interviews with potential buyers all told the same story, with some 90 per cent saying they were looking for permanent rather than holiday homes. It’s not just France which will benefit from the increased uptake, as Spanish realtors are now seeing a strong surge in activity in the housing market. Even although Britons won’t lose their rights to buy property in Europe, the threat of an uncertain future as regards visas and healthcare isn’t deterring those who’re determined to leave on a permanent basis.
Even the tricky question of tighter custom controls isn’t deterring those planning to start new or transfer existing businesses, with one determined female would-be expat explaining she’ll run her gourmet food business for six straight months in London and do the same for the remainder of each year in her new home in Valencia’s Patacona beachside district. She’s now researching Spanish residency in order to meet the application deadline of six months after the transition period ends. According to a British realtor in the area, many British SMEs are following the same expatriate route for the same reasons.
In spite of the continuing risk of a no-deal exit at the end of this year and the uncertainty of future rights, Brits are rushing to buy bolt holes in mainland European Union member states. Unsteady or unfavourable exchange rates notwithstanding, the importance of getting out from under a disaster in the making is causing an unexpected exodus. European realtors and developers aren’t missing the chance of a lifetime, with the recent France Show at Olympia seeing huge queues and a sense of urgency.
Media reports claim interviews with potential buyers all told the same story, with some 90 per cent saying they were looking for permanent rather than holiday homes. It’s not just France which will benefit from the increased uptake, as Spanish realtors are now seeing a strong surge in activity in the housing market. Even although Britons won’t lose their rights to buy property in Europe, the threat of an uncertain future as regards visas and healthcare isn’t deterring those who’re determined to leave on a permanent basis.
Even the tricky question of tighter custom controls isn’t deterring those planning to start new or transfer existing businesses, with one determined female would-be expat explaining she’ll run her gourmet food business for six straight months in London and do the same for the remainder of each year in her new home in Valencia’s Patacona beachside district. She’s now researching Spanish residency in order to meet the application deadline of six months after the transition period ends. According to a British realtor in the area, many British SMEs are following the same expatriate route for the same reasons.
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