Updated Friday, November 26, 2021 – 08:28
Brexit and Covid-19 put a stop to the sale of homes in Spain for English retirees. In 2010 they represented 35% of operations, now it is the Germans who take the lead
Several bathers enjoying the beaches of Benidorm.EVA MANEZREUTERS Where do foreigners buy a house in Spain? The Germans end British hegemony in the ‘brick The Brexit surpasses the pandemic in affecting the sale of homes by the British
In Spain there are about 360,000 British registered citizens. For many years our country has been the second favorite residence of UK retirees in search of good weather, better cuisine and a higher quality of life thanks to the strength of their sterling pensions. However, this situation has changed and has a difficult solution. The cause? The Brexit and the Covid-19.
Both situations have limited the future plans of many families in the UK. They no longer invest as much in brick in Spain as they used to and those who had, residents for decades, are putting their homes up for sale. For now, according to experts, it is only a “drip”, but the leak can go further.
How long can British reside in Spain after Brexit?
The United Kingdom’s departure from the European Union also ended the free movement of its citizens through Europe in 2021. Since then, the maximum time that they can remain in Spain continuously has been limited to 90 days and when they return to the United Kingdom they will have to spend other 90 days before being able to return to Spanish territory again.
Can the English apply for a visa in Spain?
Yes, the first exception to stay longer would be to apply for a visa. Since 2021, British retirees or non-working people in the country can apply for a non-lucrative visa, as can citizens of other countries that do not belong to the European Union. Thus, they may be in the country for more than six months continuously. They are required to possess sufficient financial means and be the holder of private health insurance.
What other options can they make to spend more time on Spanish soil?
Since 2013, the investor visa, better known as the Golden Visa, has been in force, which allows you to live in Spain for two years as long as you have a real estate asset that exceeds 500,000 euros. Once the term of the permit is over, it can be renewed more easily than a traditional visa.
How long should they visit Spain per year if they have the ‘Golden Visa’?
Compared to other European destinations that require a six-month residence, in Spain this document only requires visiting 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 assets.
How has the loss of value of the pound sterling against the euro also affected?
The entry into operation of Brexit has meant a loss of purchasing power for British residents outside the United Kingdom. The pound sterling against the euro is estimated to have fallen by as much as 27% over the past two decades. Before an English pension of 1,000 pounds was equivalent to 1,636 euros, but now it does not reach 1,200 euros.
Which destinations have noticed the most the sale of houses by the British?
Preferably the sale of houses and real estate in the residential areas of the Costa Blanca in Alicante, Costa del Sol in Malaga and the Canary Islands.
From which countries do the largest home buyers in Spain come now?
The downward trend in interest in the British market for home purchases in Spain was confirmed in the third quarter of 2021. According to official data from the College of Registrars, the German market with 10.77% outperformed UK residents who added 10%. A change in trend that takes on more force when compared to the 2010 figures in which the British community accounted for 35% of home purchases by foreigners in Spain.
So far in 2021, after the Germans and the British, the interest of new residents such as the French (7.82%) and also the Moroccans (6.55%) also stands out.
According to the criteria of
The Trust Project Learn more