Why do not retirees from United Kingdom do not buy houses in Spain?

In Spain there are about 360,000 British registered. For many years our country has been the second favorite residence of the retirees of the United Kingdom i

Why do not retirees from United Kingdom do not buy houses in Spain?

In Spain there are about 360,000 British registered. For many years our country has been the second favorite residence of the retirees of the United Kingdom in search of good climate, better gastronomy and a higher quality standard thanks to the strength of their pensions in pounds sterling. However, this situation has changed and has difficult solution. The cause? The Brexit and the Covid-19.

Both situations have limited the future plans of many families in the United Kingdom. They no longer invest both brick in Spain and before and those who had, residents for decades, are putting their homes for sale. For now, according to experts, it is just a "drip", but the escape can go to more.

The March of the United Kingdom of the European Union also ended with the free movement of its citizens in Europe in 2021. Since then the maximum time that can remain in Spain continuously and when they return to the United Kingdom other 90 days before you can return back to Spanish territory.

Yes, the first exception to stay longer would be to apply for a visa. Since 2021 the retired British or non-workers in the country can request Non Lucrative Visa, as well as citizens of other countries that do not belong to the European Union. Thus, more than six months may be in the country continuously. They are required of possession of sufficient economic means and to be holding private health insurance.

Since 2013, investors visa is valid, better known as Golden Visa, which allows living in Spain for two years as long as it has a real estate assets that exceeds 500,000 euros. Once the period of the permission is finished, it can be renewed with a greater ease than a traditional visa.

Faced with other European destinations that a six-month residence is required, in Spain this document only requires visiting the Spanish soil once a year. Format that can allow greater flexibility of movements for the English colony. In this case, the access cut is 500,000 euros in equity.

The entry into operation of Brexit has meant a loss of purchasing power for British residents outside the United Kingdom. It is estimated that the pound sterling against the euro has fallen in the last two decades up to 27%. Before an English pension of 1,000 pounds supposed to change 1,636 euros, but now it does not reach 1,200 euros.

Preferably the sale of houses and buildings of the residential areas of the Costa Blanca in Alicante, Costa del Sol in Málaga and the Canary Islands.

The downward trend of the interest of the British market for the purchase of housing in Spain was confirmed in the third quarter of 2021. According to the official data of the College of Registrars, the German market with 10.77% surpassed residents of Kingdom United that totaled 10%. A change of trend that takes more strength if compared to the 2010 figures in which the British community represented 35% of purchases of housing by foreigners in Spain.

So far as 2021, after German and British, it also highlights the interest of new residents such as French (7.82%) and also of Moroccans (6.55%).

Updated Date: 26 November 2021, 02:39

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