BUYING AND SELLING PROPERTY IN SPAIN AFTER BREXIT
IS IT SAFE AND WISE TO BUY A PROPERTY IN SPAIN AFTER BREXIT?
- 1 INTRODUCTION
- 2 CAN I STILL BUY A PROPERTY IN SPAIN AFTER BREXIT? WHAT HAS CHANGED?
- 3 WILL PROPERTY PRICES FALL IN SPAIN AFTER BREXIT?
- 4 HOW DO I APPLY FOR RESIDENCY IN SPAIN AFTER BREXIT?
- 5 I’M A BRITISH OWNER OF A PROPERTY IN SPAIN – WHAT HAPPENS NOW? WHAT ARE MY RIGHTS AS A BRITISH CITIZEN? HAVE MY CITIZENS RIGHTS CHANGED?
- 6 SELLING A PROPERTY IN SPAIN AFTER BREXIT & OUR MARKET FORECAST
- 7 SO THINKING OF BUYING OR SELLING A PROPERTY IN SPAIN AFTER BREXIT
So, Brexit is done and dusted, finally. How does it affect buying a house in Spain after Brexit?
Does it change my circumstances and rights to use that house? Does it change the purchase or sale of a house in Spain?
CAN I STILL BUY A PROPERTY IN SPAIN AFTER BREXIT? WHAT HAS CHANGED?
In a nutshell “Yes you can still buy” and “Brexit has made very little difference” except for 2 points: –
I, personally, have had to apply for residency because, with a Spanish wife and 2 teenage boys I spend over 90 days continuously in Spain (especially now during the covid19 pandemic) and, had I not applied (and been accepted) for residency, I would have had to return to the UK alone, without the family.
It is safe and, if you want to buy, then it is also wise to buy a property in Spain after Brexit.
I could here write oodles of unnecessary details but frankly, apart from the points above, that’s it – nothing much changed.
So, to recap, what is the current situation?
1) You spend less than 90 days in any 180 in Spain or other Schengen countries: –
2) You spend more than 90 days in any 180 in Spain or other Schengen countries: –
WILL PROPERTY PRICES FALL IN SPAIN AFTER BREXIT?
IS IT WISE AND SAFE TO BUY A PROPERTY IN SPAIN AFTER BREXIT?
Property prices in Spain have already dropped for Brexit and recently there has been a number of new developments starting up in various areas with strong pre sales data reported.
Prices obviously can fall but the general indications would suggest a period of stability in the market and growth once the pandemic comes under control.
It could be a wise time to make that choice and realise your lifetime dream.
WILL THE CORONA VIRUS AFFECT PRICES?
In the aftermath of Covid & Brexit it is unlikely but not unimaginable that investment and currency controls could be introduced to bolster the UK economy.
If that were to be the time window to benefit from existing legislation is now.
HOW DO I APPLY FOR RESIDENCY IN SPAIN AFTER BREXIT?
The TIE card or Spanish Foreigner’s Residence card – Still waiting for mine.
- without Spanish residency you will only be able to use your house for 90 days in any 180 – that means maximum stay of 3 months (then 3 months outside of all EU countries) thus changing the lifestyle of the “swallows” who head south for the winter sun
- with residency you can enjoy free unlimited access to your Spanish house and all the Schengen countries of the European Union
- getting Spanish residency does not necessarily mean you are liable for Spanish taxation but this is dependant on other criteria which we explain later in the blog
SO AM I STILL BRITISH, ENGLISH, SpPANISH, SPANGLISH OR WHAT???
A good friend of mine needed to be able to spend a continuous period in a Schengen country that applied these 90 day rules. He discovered that, having an Irish grandmother, he was eligible for an Irish passport.
Having obtained one, he was able to spend as much time as he liked in Schengen countries by using that passport.
Dual nationality was a boon then just as dual residency rights may well be in the future. Probably More legitimately!
SO HOW DO I GET SPANISH RESIDENCY AND DOES IT AFFECT MY RIGHTS AS A BRITISH CITIZEN?
and then: –
WHAT DO I NEED TO QUALIFY FOR SPANISH RESIDENCY?
WHAT ARE THE IMPLICATIONS OF TAKING UP SPANISH RESIDENCY?
1) you will need to pay any taxes on income to Spain rather than UK if any of the following apply: - a) if you have spouse or children living habitually in Spain b) if you spend more than 183 days per year in Spain c) have the core of your interests in Spain 2) you can continue to pay your tax to the UK government provided neither of the 3 points above apply to you 3) you will need to exchange your UK driving licence for a Spanish one
I’M A BRITISH OWNER OF A PROPERTY IN SPAIN – WHAT HAPPENS NOW? WHAT ARE MY RIGHTS AS A BRITISH CITIZEN? HAVE MY CITIZENS RIGHTS CHANGED?
Answers to the following frequently asked questions.
SELLING A PROPERTY IN SPAIN AFTER BREXIT & OUR MARKET FORECAST
More questions and answers: –
WILL PRICES FALL?
IS NOW A GOOD TIME TO BE THINKING ABOUT SELLING MY PROPERTY IN SPAIN?
WILL THE CORONA VIRUS AND BREXIT AFFECT CHANCES OF SELLING PROPERTY OR THE PRICE ACHIEVED?
SO THINKING OF BUYING OR SELLING A PROPERTY IN SPAIN AFTER BREXIT
LET THE TEAM AT SEARCH AND SURVEY SPAIN HELP YOU?
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