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Why is Spain the UK’s Favourite Place to Buy Abroad?

Without doubt, the mild winter months and the uplifting sunshine available just about 365 days of the year is a big reason why people in the UK choose to live in Spain: After all, in the UK we spend most of our time struggling to function with long and sharp winters as well as too many grey and grisly wet days – even in summer!  Another reason is the ease of access. Regular and reasonably cheap flights make it easy to visit family and friends (or for them to visit you) which gives those who make the break a kind of secure feeling; in that we are not reaching too far from “home” and so all of the people we care about. Of course, the fact that Brit’s have been taking package holidays to Spain since the fifties also gives this destination a “home from home” and so familiar feel.

Home from Home

Co-founder of the Horizon Holiday Group, Vladimir Raitz, was the brainchild behind the first package holidays to Spain in the fifities: Changes to the Convention on International Civil Aviation in 1954 was liberalistic toward Spain, thus pushing the drive for charter planes, and so tourism, to here. These first package holidays gave people in the UK their initial introduction to affordable travel options to Spain. Since then, there have been some up and downs but today low cost and regular flights continue to make Spain the UK’s most popular destination.

The Costa Blanca

The first regular flights from Alicante were to Madrid and Barcelona in the late sixties. By the early seventies passenger traffic to and from Alicante Airport had touched the million mark. In 2017 this number was almost fourteen million. With many flights regularly available the price and the general beauty of the area has made Alicante and the Costa Blanca region somewhat of a tourist hotspot and so a popular area to buy in Spain. Javea (Xàbia) and the surrounding towns such as Denia and Benissa are certainly among the most popular places to buy in this region.

Javea –  Xàbia

Javea is known to the Spanish as Xàbia and is located on the most eastern point of the Mediterranean coast. In recent years we have seen a surge in property purchase in the area, a trend that looks like to continue in the foreseeable future according to Maria Sanders, marketing executive of property portal

The popular tourist destination of Ibiza is just ninety kilometres east of Javea and can easily be reached by boat. So close, on any one of the many clear days the people of Javea town enjoy, the island can be seen clearly. Orange and lemon trees as well as ancient olives also give the region a plush and fertile feel – With long sandy beaches as well as a green and beautiful landscape this place has everything to offer.

Without doubt, Spain remains one of the UK’s most popular places to buy a property, especially Javea on the Costa Blanca. Today the price of property remains low in comparison to that in the UK and so continues to be considered a good place to invest. Throw into that the great weather and low cost of living it’s no wonder the Spanish property market looks set to move onwards and upwards. Why miss out?

Are More People Buying Abroad Because of Brexit?

According to certain reports the UK house market is being somewhat overshadowed by the arrival of Brexit. The experts are predicting that if the deal does not go well house prices in the UK might fall up to twenty, even twenty-five percent. To the contrary, others are predicting house prices will rise.

It has to be said, the definition of prediction is “what someone THINKS will happen” and it’s important to remember this the basic truth – What will happen is not always what the experts think with happen and history tells us, the experts (unfortunately and sometimes fortunately) are not always right. For example, in 2018 UK house prices were predicted to raise just 1% maximum. In fact statistics are showing around a three percent raise. Many developers were forecasting gloom and doom but to many peoples surprise, house sales have been very buoyant in many areas of Spain. We spoke to Mike Kirby from Valuvillas, a property agency in Javea on the Costa Blanca who said, “this year enquiries have dramatically increased, especially from UK residents so I think people have just got fed up with waiting and decided to bite the bullet and buy in Spain”

European Hotspots

The same is happening all across Europe. Experts are predicting and people are reacting and this has resulted in certain property hotspots. Indeed, property sales in some countries (like France for example) are at an all time high. In Spain and Portugal house prices have risen over the past few years and are predicted to keep rising. What does this mean? Bottom line, it means that people are buying which seems to indicate that the general consensus of the public and investors is that prices will rise after Brexit – Despite concerns.

When Will Brexit Come Into Force?

Right now there have been zero changes and the UK remains a fully ‘paid up’ member of the European Union. Until the Brexit negotiations are finalised everything remains a prediction. To date this has not happened and the discussions seem set to continue through 2019 and quite probably beyond. Right now people in the UK are in a strong enough position to buy property abroad – If UK house prices do fall due to Brexit (as some predict), they might not be so well positioned. To which, those who can are making their move now.

What Happens When Brexit Arrives?

When Brexit comes into force the UK will no longer be part of the European Union. This is one definitive fact, and possibly the only of the few things that are definitive right now. After this, buying a house in the EU will the same as it is for all those who do not reside on that country and do not belong to the EU. However, while it will be possible to buy a property, rights to residency are unknown at this time.

Spain and Portugal are very receptive toward foreign buyers (non EU) and already have ‘Golden Visa’ programmes that should make UK buyers feel more optimistic. With Spain and Portugal being the top ‘sellers’ with UK buyers it certainly does seem they are feeling encouraged and confident buying in these countries. UK buyers do represent a notable percentage of foreign buyers within Europe and it seems likely most countries will continue to encourage that. Are more people buying abroad because of Brexit? Yes, the consistent rise in sales since the Brexit vote does seem to indicate more people are buying abroad now in response to the up and coming Brexit directive.

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