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British buyer numbers in Spain set to fall if UK has European referendum
| Published: | 31 Mar at 9 AM |
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As the UK considers an exit from the EU, there is the possibility that the number of properties bought by Brits could plummet.
According to a recent YouGov survey, one in three Brits think that property bought overseas is a risky investment if the UK left the EU.
Finance Expert Jordan Tilley said that although recently the strength of the Euro has been sliding increasing against the Pound Sterling, this has not caused a buying frenzy of British property purchasers in Europe. He added that there is still much caution amongst British people in regards to buying property in the Eurozone and that in order for confidence to grow there needs to be a better understanding of the European housing market.
According to Mr. Tilley, properties worth €180,000 would now cost £128,000 compared to £150,000 a year ago due to the current record low weak Euro. The possibility of a Brexit referendum after May’s general election and Greece’s continuing debt negotiation talks is causing many potential British buyers to seek a full understanding of the risks involved before buying their dream property in the sun.
According to a recent YouGov survey, one in three Brits think that property bought overseas is a risky investment if the UK left the EU.
Finance Expert Jordan Tilley said that although recently the strength of the Euro has been sliding increasing against the Pound Sterling, this has not caused a buying frenzy of British property purchasers in Europe. He added that there is still much caution amongst British people in regards to buying property in the Eurozone and that in order for confidence to grow there needs to be a better understanding of the European housing market.
According to Mr. Tilley, properties worth €180,000 would now cost £128,000 compared to £150,000 a year ago due to the current record low weak Euro. The possibility of a Brexit referendum after May’s general election and Greece’s continuing debt negotiation talks is causing many potential British buyers to seek a full understanding of the risks involved before buying their dream property in the sun.
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