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You can’t deny it, Brexit has caused a significant amount of turmoil, confusion, and worry for the people of Britain. Whether it be fears over immigration or trading between countries, the decision to leave the European Union has sparked fear and worry amongst millions.
It’s also led to a significant amount of speculation and doubt amongst those who own Spanish property. Many people are asking the questions, “just how much will the vote to leave the EU effect me, my house and my prospects regarding continuing to live abroad?”
Despite this, statements have recently been made by officials in Spain to say that brits with properties in the country needn’t worry. But just how much can we trust this?
What are pledges being made?
The Spanish Foreign Minister Alfonso Dastis has spoken up in an attempt to reassure Brits with Spanish property. He stresses things will remain largely the same once Brexit takes effect. He made a statement saying that homeowners would face “no disruption”. This is largely down to a desire to continue to nurture the countries close relationship with the UK in terms of economic and social exchanges.
What is the current situation with Brits looking to move to Spain?
Spain is still the most popular choice for Brits looking for a summer holiday getaway to a sunny European country. Recent figures have revealed that the country accounts for the largest number of British citizens living abroad in the EU, at just under 390,000. Brits endeavour to purchase at different times. Some placing a Spanish property purchase on their long-term retirement plan. On the other hand, couples and families with children seek holiday homes they can use throughout the year.
What could Brexit mean for Brits with Spanish property?
There is a lot of speculation that member states who are angered by Brexit, will put pressure on British expats to leave. Luckily those with Spanish property are protected by the EU’s right of free movement. This means that EU members are unable to bar or expel citizens of other EU states.
There are also concerns that Brits abroad may be barred from taking advantage of healthcare and other benefits, but this may not materialise, especially given the fact that the UK plays host to as many as three million EU nationals.
Whether the outcome of Brexit is good or bad for those who own European property. It’s important that everyone remains vigilant and stays prepared as Brexit continues to unfold. Anyone who owns Spanish property and is seeking advice regarding purchasing, selling, or dealing with negative equity can get in touch with our team of specialist advisors.