Re: Is Brexit causing an British exodus from Spain?
 

In Spain, Non-EU nonresidents have a substantially higher tax burden than EU citizen nonresident. That's a factor for many Brits who own property but never became resident.

Another factor in the Balearics and probably elsewhere is the new licence requirement for tourist lets (e.g., AirBnb). Many Brits bought apartments to use a few weeks per year, while letting them out for the rest of the year to pay the mortgage. But they never registered, licenced, or paid income tax on the proceeds. Now, they can't do that anymore, or face €40k fines, and apartments can't be licenced for tourism unless the entire building is strictly tourist lets.

So, yes, there's a bit of British exodus... from Mallorca at least. But European buyers are picking up a few bargains in the process.

Re: Is Brexit causing an British exodus from Spain?
 

Yes and although this is from 2018 probably even more so today https://www.idealista.com/en/news/pr...ain-2017-large

The British, the only ones who have gone down

By nationality, us British are losing relative weight although there’s still a big difference from other nationalities. The Brexit effect has caused Brits to buy fewer houses than in 2016, with fewer than 9,200 transactions, and a 10% drop compared with the previous year, when they set a record.

This decline in transactions by the British has been offset by the other nationalities, all of which have grown. The French recorded nearly 5,300 purchases and increased their weight to 8.6% of total foreign purchases. They are followed by the Germans (7.7%), with around 4,750 purchases; Belgians (6.4%), with 3,900 operations; and then Swedes (6.3%), Italians (5.7%) and Romanians (5.3%).

"These nationalities are exactly the same as the ones that have been occupying the top positions in recent years, with a remarkable consistency in the demand for housing in Spain in terms of nationalities," the registrar's report points out. "Everything seems to indicate that there may be a certain degree of recovery or, in any case, that levels with the British demand will be upheld, which could contribute positively to the favourable real estate cycle in which housing demand is found."

Properties by the sea, the preferred choice for foreigners

In all the autonomous communities on the Mediterranean coast and both archipelagos, the number of house purchases by non-Spaniards has increased. The Canary Islands (31.3%), the Balearic Islands (31.2%) and the Valencian Community (26%) were the main places they invested in 2017. Of these, the Canary Islands was the most popular, where the relative weight increased. That’s followed by Murcia (18.7%), Andalusia (13.8%) and Catalonia (12.9%).

"All these places have a high degree of coastal tourist attraction, which fits perfectly with the structure of nationalities demanding housing in Spain over the last few years," according to the registry.

In the provinces of Alicante (40.76%) and Santa Cruz de Tenerife (40.72%), the weight of foreign purchases is almost equal to that of Spanish nationals. They are followed by the Balearic Islands (31.2%), Girona (30.7%), Malaga (29.6%), Las Palmas (22.3%), Murcia (18.7%), Almeria (16.8%), Tarragona (14.4%) and Castellón (14%).

Re: Is Brexit causing an British exodus from Spain?
 

Will never happen, why Schengen.

As a Schengen zone country Spain could not unilateral disregard the 90 day rule as provided you entered and left via Spain it would create a back door for the whole of the rest of the EU.

It would require unanimous agreement between all EU member states and also likely reciprocation by UK and I think we can guess how that would go down!

Re: Is Brexit causing an British exodus from Spain?
 

There was a massive influx of Brits relocating to Spain in the early 2000s when there was a massive marketing push by companies such as MASA and many others who were running property sales exhibitions every weekend in the UK and incentivised trips to view Spanish building sites (!) which encouraged (and conned in some cases) 1000s of Brits to take the plunge. This was pre every home having the net and so many so knew very little and believed everything they were told about life in Spain.

People are far wiser now with access to more information and many things have changed including Brexit, value of the pound, on costs of buying here (it was 4% when I came) AirBnB options etc etc so Brits do not arrive in the vast boom numbers of that previous era.

Re: Is Brexit causing an British exodus from Spain?
 

It will affect their ability to retire. Or have you not understood what free movement meant?

Re: Is Brexit causing an British exodus from Spain?
 

I didn't mean to suggest that 90 day rule be ignored, but can't Spain issue visas anymore? :confused:

Re: Is Brexit causing an British exodus from Spain?
 

How?

Bit more paperwork may be?

Re: Is Brexit causing an British exodus from Spain?
 

With all of the additional burdens (e.g., falling value of sterling, higher taxation, higher base requirements for non-EU citizens, more paperwork - visas aren't granted simply on the basis of an extra sheet to fill out, there's all kinds of fiscal requirements as well - etc) it's logical to presume that for many Brits, it will simply become untenable. There will always be some who can swing it. Just fewer.

But as illustrated, there's plenty of Europeans with more than sufficient income to take their place. And without the additional burdens.

Re: Is Brexit causing an British exodus from Spain?
 

Surely the Exodus as it's being called started if anything post 2008 due to the financial crash leading to huge fall in property values in Spain and at same time huge devaluation of the pound. Some moved back then putting their properties on the market but unable to sell. Some may have moved back or tried to ride it out untill they could sell. After around 2014 things improved firstly exchange rate improved and then properties started selling slowly at reduced price. People started re looking at moving to Spain etc. Of course that was followed by Brexit saga creating uncertainty again and some backsliding of value of Sterling but nowhere near the scale of 2008/9. Some people will be going back now as bitten back then but they have eventually managed to sell others may well do it just because of Brexit and others may well simply be reaching an age where they were always going to return. There are so many factors in reality. There will be life for Brits in Spain after Brexit but personal situations etc will mean it will be different dependent on ones situation .

Re: Is Brexit causing an British exodus from Spain?
 

I can only assume your understanding of what will happen after Brexit is limited. No , it will not be a bit more paperwork. After Brexit any UK national will need the visa requirements of a 3rd country citizen. They will need an income of over 25.000 Euros a year per individual. They may also need health insurance as at the moment the S1 cover is only available until then end of 2020 and needs the approval of the spanish Government. Further they will require a Spanish driving licence as from THIS fFriday anyone who has not registered with DGT will need to do a spanish driving test ( in Spanish Language). Plus if they leave spain for more than a set period they will lose their residency. So I think you will find it is a bit more than just an extra sheet of paper.!!

Re: Is Brexit causing an British exodus from Spain?
 

I'd be more than astonished if the Spanish authorities showed that much good sense.

Re: Is Brexit causing an British exodus from Spain?
 

Over the past 10+ years the Sterling to Euro Fx rate has generally been around what it is now - the irrational exhuberance of the 18 months or so prior to the referendum is not typical of the decade - so only those who moved to Spain in 2015/16 will be finding a real negative in their pension incomes, those who moved before this period will just have enjoyed a boost during the 18 months and will now be back to where they were before.

I see others have mentioned the impact of uncertainty on the FX (and indeed on other economic indicators) - this is obviously the key issue, the remainiacs extending the duration of uncertainty in the UK by trying to subvert democracy have caused real damage to the UK and its citizens.


https://cimg4.ibsrv.net/gimg/british...61dfed364c.jpg

Re: Is Brexit causing an British exodus from Spain?
 

Retirement visas are available for third country nationals. Assuming the Spanish government doesn’t put any extra measures in place any future British retiree will need to provide evidence of income, i.e. pension, and accommodation. This is what is required now for those wishing to use FOM as self sufficient persons. Healthcare arrangements post-Brexit have yet to be decided but the UK is seeking a reciprocal agreement with the EU but failing that bilateral deals with individual countries. Driving licences are likely to be dealt with on a similar basis. So yes, for those in receipt of a reasonable pension and looking to buy a property in Spain, it will boil down to some extra paperwork.

Re: Is Brexit causing an British exodus from Spain?
 

BritInParis

25,000 euro per person per year. So, is that a normal amount for a pensioner from the UK?
It os a little over 2000 a month to live on and that would do nicely in most places in Spain, right?

Re: Is Brexit causing an British exodus from Spain?
 

According to data the median pension income in the UK is around £285 a week.