Brexit

British set their eye on Spanish property post Brexit

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The number of Britons seeking a second home in Spain soared in the first week of January as more families cast their sights to the European country amid the lockdown property experts said, post Brexit.

The real estate company Taylor Wimpey Espana found that interest in Spanish properties rose by 39 per cent during the first week of 2021 when compared to the first week the year before despite post-Brexit travel restrictions. It also showed that German interest was also rising.

They also reported a surge of buyers using virtual tours across many site including Mallorca. Even post Brexit when restrictions mean holiday home owners will only be able to spend 3 months in Spain without a visa.

Even with all these restrictions in place it isn’t stopping peoples hopes and dreams of travel and warm Spanish sun being available to them again soon. Owning a holiday home on Mallorca is the perfect antidote to the stresses and strains of life.

Here there are so many beautiful places to reside and the climate means you can enjoy more of the things you love whether that is golf, cycling, hiking, walking or sailing. Dining alfresco is the norm and the wonderful array of beachside restaurants and bars means you will never tire of choosing a new place to dine.

The capital, Palma is a feast for the senses with excellent shopping facilities, art galleries and museums to tour. Mallorca simply has such a wide selection of wonderful things to do, it really is a slice of heaven in the Mediterranean.

Whether you are looking for a 2 bedroom apartment overlooking a marina or a villa up on a hill, there’s a superb selection available here. Many people love the idea of retiring to Spain but enjoying every aspect of it might mean investing in a holiday home before then. Enjoy the journey and have fun searching for your new home in the sun. Our sister company Lifestyle Properties is on hand to help you if you need advice on some of the best places to buy.

Buying & selling property in Mallorca post Brexit

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Brexit has dominated the headlines over the last few years and now that it is finally done, things aren’t drastically different. The Withdrawal Agreement signed by the British allows for a transition period until 31st December 2020.

The legalities

If you live in Spain for three months or more a year you should get your documents in order. That means becoming a resident with an NIE and Spanish drivers licence. This will entitle you to free healthcare here in Spain.
The process of buying and selling property in Spain will not change for the British. It’s already the same process for non-EU nationals like the Swiss, Norwegians and Americans, so there’s no reason to expect it to be any different.

We don’t yet know whether Brexit will affect British demand for buying property in Mallorca, but it shouldn’t. The British were buying here long before they were in the EU and if anything, buying a home here is now more straightforward due to legislation passed in 2019.

Why buy here?

The Spanish government encourages other nationalities to invest here and The Golden Visa is a prime example of that. Over the last decade the Spanish property market has seen a steady increase in prices, standards and quality. Last year the price of property in Spain generally was up 3.6% in the 12 months to December 2019 according to valuation firm Tinsa. These statistics are a national average and the price of property in Spain does vary from region to region.

The real thing to watch is the value of the GBP. Choosing the right time to buy when you will get the most for your money is wise. Speak to one of our property specialists who can introduce you to currency specialists who can lock in an excellent rate for you on the exchange.

If you are thinking of buying or selling your property in Mallorca, talk to us today. Our team have many years’ experience in dealing with EU and non EU property transactions so they can guide you through a stress free process.