Clients from the UK are still buying in Spain despite Brexit and there is no reason why they shouldn’t.
Recent reports from major portals like Right move and Kyero suggest interest in moving to Spain has never been higher and year on year the numbers of transactions completed in Spain according to these fantastic guides are up 20%!
A few people have emailed and said that we have concerns about healthcare or other issues – the fear created by the tabloid press is causing this and there is no logical reason for it. At the recent A Place In The Sun exhibitions in London, Birmingham and most recently in Glasgow, the Comaskey Team literally talked with hundreds of people keen to buy now rather than wait until it gets worse in the UK. These people are genuine and in many cases have made many appointments for viewings. Comaskey is hearing the same news from our other collaborators and agents on the coast.
When you think about it really there is no real reason to be put off. What is the fact about the UK not being in the EU any longer that makes people worry about buying in Spain or retiring here? In my opinion, one word… “media”. Or another one … “scaremongering”.
Firstly, is the UK really going to be the place to stay after Brexit? Already we are seeing redundancies, headquarters moving, and doom and gloom. A client said that they will buy once the Brexit situation is resolved. That might be in ten years according to European foreign ministers this week – why would a retired, healthy, 63-year-old couple waste a full decade to find out nothing is changing?
If you believe that buying a property in Spain is not going to put your financial future at risk if there is a further downturn in the economy, then consider this; non-EU citizens have bought property in Spain for decades, and are still buying in droves.
We are seeing more and more Americans (thanks to Donald Trump) and there are several communities of Norwegians on the Costa Blanca. We also see the Icelandic (there are several in my son’s school), Swiss and other nationalities. It is not at all likely that there is going to be a special rule to make life difficult for the British just because of Brexit, (think of the Spanish in the UK, there is a necessity for an agreement between the two countries), and there are lots of very good reasons for buying in Spain.
I have a family member in her 70’s staying with me at the moment. We have discussed the high cost of living in the UK, compared to Spain. Council tax; as a single retired woman she pays 200 pounds per month, here it would be probably 200-300€ per year. I was shocked to hear that her TV licence is 200 pounds, here we do not pay one (ssh, don’t give them ideas), and there are many other examples. Plus it is almost the middle of November and it is still in the 20’s here with many people sunbathing and relaxing on the beaches. Life is for living.
The big concern of people seems to be healthcare. I cannot see anything changing with regard to the usual cover when you are on holiday if you have a holiday home here, and also travel insurance is generally very inexpensive anyway if you want more coverage. At the moment, for those who are retired, healthcare is free. This may continue, or it may not, but to be honest, even if it doesn’t, there is still the option to pay a voluntary payment per month for free healthcare (for those under 65 it is currently 60€ per month and for those over 157€ per month). So if the worst came to the worst, so you swap your council tax payment for a good medical system (much better than the UK) and I know which I would rather pay. I have had a few stays in Torrevieja hospital, each time in a modern ward, and my own private room and ensuite (on Spain´s National Health).
You will find that the general cost of living is much lower, the weather definitely better, and it is proven to be healthier here. Because of the iodine in the air here from the salt lakes, the World Health Organisation has declared Torrevieja and environs to be one of the healthiest places to live in the world, as many people with rheumatism and arthritis know.
With regard to tax, if someone makes the decision to move to Spain and spends more than 183 days per year (not necessarily consecutively) here, then by law, they are Resident and should have Residencia, should become a fiscal Resident and pay taxes on their worldwide income. That bit is not a choice, although some people still think they can choose to remain non-resident. They can but it will not be doing things the right way and legally.
Different people will pay a different tax. They have different family issues, some have a pension, investments, shares, rental property, all sorts of things. Really there is no reason why Spain is going to charge the British more for tax than for the Norwegians, Icelandics, Russians, Chinese and Swiss and perhaps not a penny more than the other members of the EU. Remember the UK and Europe will remain trading partners, close defensive partners and friends.
We will keep you informed as matters progress, so you need not have any concerns about the future here. Just remember that the media always want to try to make a story. Telling people that everything is great just do not sell red top newspapers! But when it really comes down to it, people were buying here originating from the UK before Brexit and they will continue to do so for many, many years, and will be pleased they did so. And we are here to help and happy to answer your questions.
One last point, when you buy, and this is important: use a registered estate agent with proper offices and a law firm to help you. Taking a shortcut here can cost you thousands, and this is not me scaremongering. If you have the desire to purchase a holiday home or move to here to improve your life, I believe you will. Life is too short not to fulfil dreams. When you buy, please use us, Spanish Solutions, or a trusted, legal, tax-paying firm like us, to assist you with the purchase. I will mention just one powerful reason (and there are others); debts in Spain go against the property, not the person…. So if a mortgage isn’t cleared properly, or a Suma debt or an electricity debt, the buyer will inherit it. Also, sleeping soundly at night knowing you’ve bought your property in Spain using professionals, makes it worth it.
The thousands of buyers that have used Spanish Solutions in the last 12 years have not needed to worry, as they have the reassurance that we are extremely professional and we know exactly what we are doing in making all the proper checks before a buyer completes. Take a look at our facebookhttps://www.facebook.com/Spainsolicitor and you can see the reviews there (feel free to add more reviews – 30 of 5 stars would be nice, we are at 20!).
So, what are you waiting for? Come out to Spain whilst the flights are super cheap, have a look around, and see what you think! A home that is going to provide you with many happy years could be here waiting for you… looking at all the lovely properties on http://www.comaskey.com is the first step in finding your new “hogar en España” … home in Spain.
Amanda Thomas